Form 4: Orange County Bancorp Director Rowley Reports Acquisition of Phantom Stock
SEC Form 4 Filing
Director Richard B. Rowley reports acquiring phantom stock and holding a significant amount of common stock in Orange County Bancorp.
Summary
- On January 2, 2025, Richard B. Rowley, a director of Orange County Bancorp, Inc., acquired 405 shares of phantom stock.
- Rowley directly owns 269,135 shares of common stock.
- He also holds 8,542 shares of phantom stock after the reported transaction.
- The phantom stock becomes payable upon Rowley's separation of service as a director.
- Each share of phantom stock is the economic equivalent of one share of common stock.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing a transaction by a company director. It doesn't inherently convey positive or negative sentiment.
Industry Context
Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders, such as directors and officers, ensuring fair market practices.
Stakeholder Impact
- The filing provides transparency to shareholders regarding the holdings and transactions of company insiders.
Key Dates
| Date | Description |
|---|---|
| 08/08/2024 | Restricted stock units vested 100%. |
| 01/02/2025 | Date of transaction: acquisition of phantom stock. |
| 01/03/2025 | Date of signature for the report. |
| 03/21/2025 | Restricted stock units vest 100%. |
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