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

Gregory Sousa, EVP and Deputy CLO of Orange County Bancorp, reports acquiring phantom stock and common stock through various transactions, including deemed investments and 401(k) holdings.

Summary

• Gregory Sousa, an EVP and Deputy CLO at Orange County Bancorp, filed a Form 4 detailing changes in beneficial ownership.
• The report indicates Sousa acquired phantom stock and common stock.
• On June 15, 2024, Sousa acquired phantom stock with a value of $6, based on a share price of $44.62.
• Sousa directly owns 4,918 shares of common stock, including restricted stock units vesting over time.
• He also indirectly owns 1,530 shares through a 401(k).
• Some transactions are not required to be reported under Section 16 of the Securities Exchange Act of 1934.

Sentiment

Score: 5

Explanation: The document is a neutral regulatory filing. It doesn't inherently convey positive or negative sentiment, but rather reports factual transactions.

Positives

• The reporting person increased their holdings in the company.

Industry Context

This filing is a routine disclosure of stock ownership changes by a company executive, as required by the SEC. It provides transparency to investors regarding the holdings of company insiders.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the stock ownership of a key executive.

Key Dates