Form 4: Orange County Bancorp Executive Ruhl Reports Stock Disposal for Tax Obligations
SEC Form 4
Joseph A. Ruhl, a Regional President at Orange County Bancorp, disposed of 502 shares of common stock to cover tax obligations related to vesting restricted stock units.
Summary
- On February 18, 2025, Joseph A. Ruhl, a Regional President at Orange County Bancorp, disposed of 502 shares of common stock.
- The transaction was executed to satisfy tax obligations related to the vesting of restricted stock units.
- The shares were disposed of at a price of $26.63 per share.
- Following the transaction, Ruhl directly owns 28,426 shares of Orange County Bancorp.
- The reported holdings include restricted stock units vesting annually, commencing on February 15, 2023, March 11, 2024 and March 21, 2025.
- The share amounts reflect a two-for-one forward stock split that occurred on January 10, 2025.
Sentiment
Score: 5
Explanation: The sentiment is neutral as it reports a routine transaction related to tax obligations. It doesn't indicate positive or negative performance for the company.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to monitor potential alignment of interests between management and shareholders.
Stakeholder Impact
- The transaction is unlikely to have a significant impact on stakeholders as it is a standard procedure for covering tax obligations related to stock-based compensation.
Key Dates
| Date | Description |
|---|---|
| February 15, 2023 | Commencement date for vesting of restricted stock units at a rate of 1/3 per year. |
| March 11, 2024 | Commencement date for vesting of restricted stock units at a rate of 1/3 per year. |
| January 10, 2025 | Two-for-one forward stock split of the Issuer's common stock. |
| March 21, 2025 | Commencement date for vesting of restricted stock units at a rate of 1/3 per year. |
| February 18, 2025 | Date of the transaction where 502 shares were disposed of. |
| February 20, 2025 | Date of signature for the Form 4 filing. |
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