Form 4: Orange County Bancorp EVP Michael Lesler Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Michael Lesler, EVP and CFO of Orange County Bancorp, reports the disposition of 135 shares of common stock to cover tax obligations related to vesting restricted stock units, as well as other holdings.
Summary
- On March 11, 2024, Michael Lesler, the EVP and Chief Financial Officer of Orange County Bancorp, reported changes in his beneficial ownership of the company's stock.
- He disposed of 135 shares of common stock at a price of $45.20 per share to satisfy tax obligations related to vesting restricted stock units.
- Following the reported transaction, Lesler directly owns 1,875 shares of common stock.
- Lesler also directly owns 222 shares of common stock.
- Lesler indirectly owns 1,000 shares of common stock through an IRA.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, indicating a neutral sentiment.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, and is typical for publicly traded companies.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it reflects an executive's stock transactions related to compensation.
Key Dates
| Date | Description |
|---|---|
| 03/11/2024 | Date of transaction: Disposition of shares and vesting of restricted stock units. |
| 03/13/2024 | Date of signature on the Form 4 filing. |
| 12/23/2023 | Commencement date for vesting of some restricted stock units at a rate of 1/3 per year. |
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