4/A: Orange County Bancorp Director Reports Changes in Beneficial Ownership

Richard B. Rowley, a director at Orange County Bancorp, filed an amended report detailing changes in his beneficial ownership of the company's stock, including phantom stock and restricted stock units.

Summary

• Richard B. Rowley, a director of Orange County Bancorp, Inc., filed an amended Form 4 on January 28, 2025, to report changes in his beneficial ownership of the company's securities.
• The report details transactions related to phantom stock and restricted stock units.
• As of the latest report, Rowley directly owns 268,685 shares of Orange County Bancorp common stock.
• He also holds 8,598 shares of phantom stock, which are economically equivalent to common stock and payable upon separation of service as a director.
• The phantom stock was acquired on December 16, 2024, at a price of $59.24 per share.
• The report includes restricted stock units that vest at different dates and are settled in shares of common stock upon separation from service.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral. It simply reports changes in beneficial ownership.

Future Outlook

The report does not contain specific forward-looking statements, but it details the vesting schedule of restricted stock units and the payout terms for phantom stock upon the director's separation from service.

Industry Context

This filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their holdings and transactions in the company's stock. It is common for directors and officers to hold restricted stock units and phantom stock as part of their compensation packages.

Comparison to Industry Standards

• Director stock ownership is a common practice in the banking industry to align management's interests with shareholders.
• Comparable companies such as Rhinebeck Bancorp, Inc. and Catskill Hudson Bancorp also have similar insider ownership structures.
• The vesting schedules and terms of restricted stock units are generally in line with industry standards for executive compensation.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the director's stake in the company.
• It assures stakeholders that the director's interests are aligned with theirs.

Key Dates