Form 4: Orange County Bancorp EVP Gregory Sousa Reports Acquisition of Common Stock and Phantom Stock

EVP and CCBO of Orange County Bancorp, Gregory Sousa, reports acquiring common stock and phantom stock, with transactions including direct and indirect ownership.

Summary

• Gregory Sousa, EVP and CCBO of Orange County Bancorp, filed a Form 4 detailing changes in beneficial ownership.
• The report indicates Sousa acquired common stock and phantom stock.
• Sousa directly owns 3,190 shares of common stock, which includes restricted stock vesting over time.
• He also indirectly owns 1,530 shares through a 401(k).
• Additionally, Sousa acquired phantom stock, representing deemed investments in connection with the Performance-Based SERP, with 6 shares acquired at $47.1.
• The phantom stock may be settled in company shares upon distribution, based on Sousa's prior election.

Sentiment

Score: 5

Explanation: This is a routine regulatory filing. The sentiment is neutral as it simply reports transactions.

Future Outlook

The phantom stock interests under the Performance-Based SERP may be settled in shares of Company stock upon distribution to the reporting person, based on their prior election.

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to track executive compensation and ownership changes.

Stakeholder Impact

• The filing provides transparency to shareholders regarding executive compensation and ownership.

Key Dates