Form 4: Orange County Bancorp Executive Reports Stock Transactions
SEC Form 4 Filing
Gregory Sousa, EVP and Deputy CLO of Orange County Bancorp, reports the disposition of 410 shares of common stock to cover tax obligations related to vesting restricted stock units, while still holding a significant number of shares directly and indirectly.
Summary
- On March 10, 2025, Gregory Sousa, EVP and Deputy CLO of Orange County Bancorp, engaged in a transaction involving the company's common stock.
- Sousa disposed of 410 shares at a price of $23.95 to cover tax obligations related to vesting restricted stock units.
- Following the transaction, Sousa directly owns 7,669 shares of common stock and indirectly owns 4,655 shares through a 401(k).
- The reported transactions also reflect a two-for-one forward stock split that occurred on January 10, 2025.
- Sousa also holds 3,601 shares of phantom stock related to the Performance-Based SERP.
Sentiment
Score: 6
Explanation: The sentiment is neutral. It's a routine filing showing an executive selling shares to cover taxes, which is a normal part of equity compensation.
Positives
- Sousa maintains a significant ownership stake in Orange County Bancorp, with 7,669 shares held directly and 4,655 shares held indirectly through a 401(k).
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates that an executive is managing their equity compensation, which is a common practice.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it represents a small percentage of the outstanding shares.
Key Dates
| Date | Description |
|---|---|
| 03/11/2024 | Commencement date for vesting of restricted stock units at a rate of 1/3 per year. |
| 01/10/2025 | Two-for-one forward stock split of the Issuer's common stock. |
| 03/10/2025 | Date of the reported stock transaction where 410 shares were disposed of. |
| 03/21/2025 | Commencement date for vesting of restricted stock units at a rate of 1/3 per year. |
| 03/12/2025 | Date of signature for the Form 4 filing. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.