Form 4: Orange County Bancorp Director Sells Shares and Acquires Phantom Stock

A director of Orange County Bancorp, Richard B. Rowley, sold 450 shares of common stock and acquired 458 phantom stock units on August 8, 2024.

Summary

• Richard B. Rowley, a director at Orange County Bancorp, sold 450 shares of common stock on August 8, 2024.
• On the same day, Mr. Rowley acquired 458 units of phantom stock.
• The phantom stock units are economically equivalent to common stock and will be payable upon his separation from service as a director.
• The sale of common stock was a result of restricted stock units vesting and being deferred into the company's Stock-Based Deferral Plan.
• Mr. Rowley's total holdings after the transaction include 268,685 shares of common stock and 8,167 phantom stock units.

Sentiment

Score: 5

Explanation: The document is a routine filing of a director's stock transactions, which is neither positive nor negative for the company's overall performance.

Industry Context

This is a routine filing related to a director's stock transactions and is common for publicly traded companies.

Comparison to Industry Standards

• Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, such as directors, in publicly traded companies.
• The transactions reported are typical for directors who receive stock-based compensation and participate in deferral plans.
• The use of phantom stock is a common method for aligning director interests with shareholder value.

Stakeholder Impact

• The transactions have a minimal impact on shareholders as they are related to a director's compensation and deferral plan.

Key Dates

Keywords

Orange County Bancorp, Director, Stock Sale, Phantom Stock, Restricted Stock Units, Stock-Based Deferral Plan, Beneficial Ownership, Form 4