Form 4: Orange County Bancorp EVP Michael Coulter Reports Stock Disposal
SEC Form 4 Filing
Michael Coulter, EVP and CLO of Orange County Bancorp, Inc., reported the disposal of 240 shares of common stock to cover tax obligations.
Summary
- On September 23, 2024, Michael J Coulter, EVP and CLO of Orange County Bancorp, Inc., disposed of 240 shares of common stock.
- The transaction was a disposal (D) of shares at a price of $58.5.
- Following the transaction, Coulter directly owns 4,961 shares of common stock.
- Coulter also indirectly owns shares through a 401(k).
- The filing also mentions restricted stock units vesting at different dates.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports a transaction. The disposal of shares for tax purposes is a routine event.
Industry Context
Form 4 filings are standard disclosures required by the SEC to ensure transparency in trading activities by company insiders. This filing indicates a transaction by an executive officer of Orange County Bancorp.
Stakeholder Impact
- The transaction has a minimal impact on stakeholders as it is a routine disposal of shares by an executive.
Key Dates
| Date | Description |
|---|---|
| 09/21/2022 | Commencement date for vesting of restricted stock units at a rate of 1/3 per year. |
| 02/15/2023 | Commencement date for vesting of restricted stock units at a rate of 1/3 per year. |
| 09/23/2024 | Date of the stock disposal transaction. |
| 09/25/2024 | Date of signature for the report. |
| 03/21/2025 | Commencement date for vesting of restricted stock units at a rate of 1/3 per year. |
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