4/A: Orange County Bancorp Director Kevin J. Keane Reports Stock Transactions
Insider Trading Report
Director Kevin J. Keane of Orange County Bancorp, Inc. reported transactions involving common stock and phantom stock, including acquisitions and disposals.
Summary
- Kevin J. Keane, a director at Orange County Bancorp, Inc., filed an amended report detailing changes in his beneficial ownership of the company's securities.
- The report includes transactions in common stock and phantom stock.
- Keane directly owns 9,751 shares of common stock, which includes restricted stock units that vest upon separation from service.
- He also indirectly owns 3,700 shares through a partnership and 416 shares through a 401(k).
- Additionally, Keane acquired 20 phantom stock units, each equivalent to one share of common stock, which become payable upon his separation of service as a director.
- He also disposed of 5,257 phantom stock units.
- Some restricted stock units that vested on August 8, 2024, were deferred into the company's Stock-Based Deferral Plan.
Sentiment
Score: 5
Explanation: The document is a routine disclosure of insider transactions, which is neither positive nor negative in itself. It is a neutral event.
Industry Context
This filing is a routine disclosure of insider transactions, which is common for publicly traded companies. It provides transparency into the trading activities of company directors.
Comparison to Industry Standards
- The reporting of insider transactions is a standard practice for all publicly listed companies in the US, as mandated by the SEC.
- Similar filings are made by directors and officers of comparable financial institutions such as Community Bank System Inc. and New York Community Bancorp, Inc.
- These filings are crucial for maintaining market transparency and preventing insider trading.
Stakeholder Impact
- The report provides transparency to shareholders regarding the trading activities of a company director.
- It helps maintain confidence in the fairness of the market.
Key Dates
| Date | Description |
|---|---|
| 08/08/2024 | Restricted stock units vested and were deferred into the Stock-Based Deferral Plan. |
| 09/16/2024 | Date of the earliest transaction reported, including the acquisition of phantom stock. |
| 09/18/2024 | Date of the original filing, which this document amends. |
| 01/28/2025 | Date of signature for the report. |
| 03/21/2025 | Date when some restricted stock units vest. |
Keywords
Orange County Bancorp, stock transactions, beneficial ownership, phantom stock, restricted stock units, director, insider trading
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