Form 4: Orange County Bancorp Director Reports Acquisition of Phantom Stock

Louis Heimbach, a director of Orange County Bancorp, reported the acquisition of phantom stock and holdings of common stock, according to a Form 4 filing with the SEC.

Summary

• On March 21, 2024, Louis Heimbach, a director of Orange County Bancorp, filed a Form 4 with the SEC.
• The filing reports changes in beneficial ownership of the company's securities.
• Heimbach directly owns 57,389 shares of common stock, including restricted stock units that vest upon separation from service or on August 8, 2024.
• He also indirectly owns 3,224 shares through an IRA.
• Additionally, Heimbach acquired 550 shares of phantom stock on March 21, 2024, which are payable upon separation of service as a director.
• Following the reported transactions, Heimbach beneficially owns 2,614 derivative securities.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting changes in beneficial ownership, so the sentiment is neutral.

Future Outlook

The document does not contain any specific forward-looking statements or guidance.

Industry Context

This filing is a routine disclosure of a company insider's transactions in the company's securities, which is a common practice in the financial industry to ensure transparency and prevent insider trading.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the holdings of a company director.

Key Dates