Form 4: Orange County Bancorp Director Reports Acquisition of Phantom Stock
SEC Form 4 Filing
Director Richard B. Rowley reports acquisition of phantom stock and holdings of common stock in Orange County Bancorp.
Summary
- On March 15, 2024, Richard B. Rowley, a director of Orange County Bancorp, Inc., acquired phantom stock.
- The phantom stock is the economic equivalent of one share of common stock and becomes payable upon the director's separation of service.
- The director also holds 268,584 shares of common stock, including restricted stock units that vest upon separation from service or on August 8, 2024.
- The price of the phantom stock was $47.1 per share, with 33 shares acquired.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, indicating a neutral sentiment.
Industry Context
This filing is a routine disclosure of a director's stock ownership and transactions, which is common in publicly traded companies. It provides transparency to investors regarding the holdings of company insiders.
Stakeholder Impact
- The filing provides transparency to shareholders regarding the director's holdings in the company.
Key Dates
| Date | Description |
|---|---|
| 03/15/2024 | Date of transaction: Acquisition of phantom stock. |
| 08/08/2024 | Restricted stock units vest 100%. |
| 03/18/2024 | Date of signature for the report. |
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