Form 4: Orange County Bancorp EVP Gregory Sousa Sells Shares
SEC Form 4 Filing
Gregory Sousa, EVP and Deputy CLO of Orange County Bancorp, Inc., sold a portion of his common stock holdings on May 15, 2024.
Summary
- Gregory Sousa, an EVP and Deputy CLO at Orange County Bancorp, Inc., sold shares of common stock on May 15, 2024.
- He sold 210 shares at $49.50 and 429 shares at $49.00.
- Following these transactions, Sousa directly owns 4,918 shares of common stock.
- He also indirectly owns 1,530 shares through a 401(k).
- The filing also mentions restricted stock units vesting over time and phantom stock interests under a Performance-Based SERP.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing reporting stock sales by an executive, which is neutral in sentiment.
Industry Context
Form 4 filings are standard disclosures required by the SEC when company insiders (officers, directors, or those holding more than 10% of the company's shares) buy or sell the company's securities.
Stakeholder Impact
- The stock sale by an executive could be perceived negatively by shareholders if they interpret it as a lack of confidence in the company, although it could also be for personal financial reasons.
Key Dates
| Date | Description |
|---|---|
| 05/15/2024 | Date of stock sale transactions |
| 05/17/2024 | Date of signature on the Form 4 filing |
| 09/21/2022 | Commencement date for vesting of some restricted stock units |
| 02/15/2023 | Commencement date for vesting of some restricted stock units |
| 03/11/2024 | Commencement date for vesting of some restricted stock units |
| 03/21/2025 | Commencement date for vesting of some restricted stock units |
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