Form 4: Orange County Bancorp Director Kevin J. Keane Reports Stock Transactions
SEC Form 4 Filing
Director Kevin J. Keane of Orange County Bancorp, Inc. reported the disposition of 450 common stock shares and the acquisition of 458 phantom stock units on August 8, 2024.
Summary
- Kevin J. Keane, a director at Orange County Bancorp, Inc., filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
- On August 8, 2024, Mr. Keane disposed of 450 shares of common stock.
- He also acquired 458 phantom stock units, which are economically equivalent to common stock shares and will be payable upon his separation from service as a director.
- The report also indicates that Mr. Keane holds 9,751 shares of common stock directly, 3,700 shares indirectly through a partnership, and 416 shares indirectly through a 401(k).
- Additionally, he holds 5,237 phantom stock units directly.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing and does not contain any information that would indicate a positive or negative sentiment. It is a neutral disclosure of stock transactions.
Industry Context
This filing is a routine disclosure of stock transactions by a company insider, which is a common practice in the financial industry to ensure transparency and compliance with securities regulations.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies in the United States, ensuring transparency of insider trading.
- The transactions reported are typical for directors who often receive stock-based compensation as part of their overall remuneration.
- The use of phantom stock is a common method for aligning the interests of directors with the long-term performance of the company.
Stakeholder Impact
- The stock transactions reported in this filing may be of interest to shareholders as they provide insight into the trading activity of company insiders.
- The information is relevant for investors monitoring insider ownership and potential alignment of interests.
Key Dates
| Date | Description |
|---|---|
| 08/08/2024 | Date of the reported stock transactions, including the disposition of 450 common stock shares and the acquisition of 458 phantom stock units. |
| 01/28/2025 | Date of signature for the Form 4 filing. |
| 03/21/2025 | Date when restricted stock units vest 100%. |
Keywords
Form 4, Beneficial Ownership, Stock Transactions, Orange County Bancorp, Director, Phantom Stock, Common Stock
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