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

Louis Heimbach, a director at Orange County Bancorp, reported the acquisition of phantom stock and holdings of common stock, including those held indirectly through an IRA.

Summary

• On March 18, 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, which includes restricted stock units vesting at grant and on August 8, 2024, settled upon separation from service.
• He also indirectly owns 3,224 shares through an IRA.
• The report also indicates the acquisition of phantom stock, with each share equivalent to one share of common stock, payable upon separation of service as a director.
• 2,063 shares of phantom stock were acquired at $47.1.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting changes in beneficial ownership. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates a director's continued investment in the company.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the holdings of a company director.
• It assures stakeholders that the director has a vested interest in the company's success.

Key Dates