Form 4: Orange County Bancorp Director Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Director Louis Heimbach reports changes in beneficial ownership of Orange County Bancorp stock, including acquisitions of phantom stock and holdings in an IRA.
Summary
- On April 1, 2024, Louis Heimbach, a director of Orange County Bancorp, Inc., reported changes in his beneficial ownership of the company's stock.
- Heimbach directly owns 57,389 shares of common stock, which includes restricted stock units that vest upon separation from service, with some vesting on August 8, 2024.
- He also indirectly owns 3,224 shares through an IRA.
- Additionally, he acquired phantom stock equivalent to 393 shares of common stock at a price of $47.74 per share, payable upon separation of service as a director.
- Following these transactions, he holds 3,007 derivative securities.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, so the sentiment is neutral.
Industry Context
This filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their trading activities and ownership positions in the company.
Stakeholder Impact
- Provides transparency to shareholders regarding insider transactions.
Key Dates
| Date | Description |
|---|---|
| 04/01/2024 | Date of earliest transaction (acquisition of phantom stock). |
| 04/03/2024 | Date of signature for the Form 4 filing. |
| 08/08/2024 | Date when some restricted stock units vest. |
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