Form 4: Orange County Bancorp EVP Michael Lesler Reports Stock Disposal

Michael Lesler, EVP and CFO of Orange County Bancorp, reports the disposal of 475 shares of common stock to cover tax obligations related to vesting restricted stock units.

Summary

• On March 21, 2025, Michael Lesler, the EVP and Chief Financial Officer of Orange County Bancorp, Inc., disposed of 475 shares of common stock at a price of $24.15 per share.
• This transaction was due to the withholding of shares to cover tax obligations related to vesting restricted stock units.
• Following the transaction, Lesler directly owns 12,845 shares of common stock.
• Lesler also indirectly owns 980 shares through a 401(k) and 2,000 shares through an IRA.
• He also holds 887 shares of phantom stock related to the Performance-Based SERP.

Sentiment

Score: 5

Explanation: This is a neutral filing related to standard executive compensation practices. It doesn't indicate positive or negative sentiment about the company's performance.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates a standard tax-related stock disposal, common among executives with equity compensation.

Comparison to Industry Standards

• Executive compensation packages often include restricted stock units (RSUs) that vest over time.
• The disposal of shares to cover tax obligations upon vesting is a common practice among executives at publicly traded companies.
• Comparable companies in the banking sector, such as Community Bank System Inc. and New York Community Bancorp, also see similar Form 4 filings from their executives.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine disposal of shares for tax purposes.

Key Dates

Keywords

Orange County Bancorp, Michael Lesler, Stock Disposal, Form 4, Executive Compensation, Restricted Stock Units, Beneficial Ownership, SERP, OBT