Form 4: Orange County Bancorp Director Rowley Reports Acquisition of Phantom Stock
SEC Form 4 Filing
Director Richard B. Rowley reports acquiring phantom stock in Orange County Bancorp, Inc.
Summary
- Richard B. Rowley, a director of Orange County Bancorp, Inc., filed a Form 4 indicating changes in beneficial ownership.
- The report details the acquisition of phantom stock on October 1, 2024.
- Rowley directly owns 269,135 shares of common stock.
- He also acquired 363 shares of phantom stock at a price of $58.51 per share, bringing his total holdings to 8,103 shares.
- The phantom stock becomes payable upon Rowley's separation of service as a director.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing, indicating a neutral sentiment.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Stakeholder Impact
- The acquisition of phantom stock by a director may signal confidence in the company's future performance to shareholders.
Key Dates
| Date | Description |
|---|---|
| 10/01/2024 | Date of earliest transaction (acquisition of phantom stock) |
| 10/01/2024 | Acquisition of phantom stock |
| 10/02/2024 | Date of signature for the Form 4 filing |
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