4/A: Orange County Bancorp Director Richard B. Rowley Reports Stock Transactions

Director Richard B. Rowley of Orange County Bancorp, Inc. reported transactions involving common stock and phantom stock, including the vesting of restricted stock units and a transfer of phantom stock.

Summary

• Richard B. Rowley, a director at Orange County Bancorp, Inc., filed an amended report detailing changes in his beneficial ownership of the company's securities.
• The report includes transactions involving common stock and phantom stock.
• Rowley's holdings include 268,685 shares of common stock, which includes restricted stock units that vest upon separation from service.
• He also holds phantom stock, which is economically equivalent to common stock and becomes payable upon separation from service.
• A transaction on September 16, 2024, involved the acquisition of phantom stock and the disposal of 8,199 shares of common stock related to vested restricted stock units.
• The restricted stock units that vested on August 8, 2024, were deferred into the company's Stock-Based Deferral Plan.

Sentiment

Score: 7

Explanation: The document is a routine disclosure of stock transactions, which is neither positive nor negative in itself. The transactions are part of standard compensation practices and do not indicate any significant change in the company's outlook.

Industry Context

This filing is a routine disclosure of stock transactions by a company director, which is common in the financial industry to ensure transparency and compliance with regulations.

Comparison to Industry Standards

• The reporting of stock transactions by directors is a standard practice across publicly traded companies, including those in the financial sector.
• Companies like JPMorgan Chase & Co. (JPM) and Bank of America (BAC) also have similar filings when their directors or officers trade company stock.
• The use of restricted stock units and phantom stock as part of executive compensation is also a common practice in the industry, aligning the interests of management with those of shareholders.

Stakeholder Impact

• The transactions reported in this filing are unlikely to have a significant impact on shareholders, employees, customers, suppliers, or creditors.
• The disclosure provides transparency regarding the director's holdings, which is important for shareholder confidence.

Key Dates

Keywords

Orange County Bancorp, Richard B. Rowley, stock transactions, beneficial ownership, restricted stock units, phantom stock, director, stock-based deferral plan