Form 4: Orange County Bancorp Director Rouis Acquires Phantom Stock

Director Jonathan F. Rouis acquired phantom stock and holds restricted stock units in Orange County Bancorp, Inc.

Summary

• On April 1, 2024, Jonathan F. Rouis, a director of Orange County Bancorp, Inc., acquired phantom stock.
• Rouis also holds restricted stock units that vest at different dates and are settled in shares of the issuer's common stock upon separation from service.
• The phantom stock is the economic equivalent of one share of common stock and becomes payable upon the reporting person's separation of service as a director.
• Rouis also indirectly owns 200 shares of common stock through his spouse.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing insider transactions, which carries a neutral sentiment.

Industry Context

This filing is a routine disclosure of insider transactions, which is common in the financial industry to ensure transparency and compliance with securities regulations.

Comparison to Industry Standards

• Form 4 filings are standard practice for directors and officers of publicly traded companies, ensuring transparency in their trading activities.
• The acquisition of phantom stock is a common form of executive compensation in the banking industry, aligning the interests of management with those of shareholders.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the transactions of a company director.
• The acquisition of phantom stock aligns the director's interests with those of the shareholders.

Key Dates