Form 4: Orange County Bancorp Executive Vice President Gregory Sousa Reports Stock Disposal

Gregory Sousa, EVP and Deputy CLO of Orange County Bancorp, reported the disposal of 240 shares of common stock at $58.50 per share on September 23, 2024, according to a Form 4 filing.

Summary

• On September 23, 2024, Gregory Sousa, an Executive Vice President and Deputy Chief Lending Officer at Orange County Bancorp, Inc., disposed of 240 shares of common stock at a price of $58.50 per share.
• Following the transaction, Sousa directly owns 4,678 shares of common stock.
• Sousa also indirectly owns 2,172 shares through a 401(k).
• The filing also mentions restricted stock units vesting at different dates and a Performance-Based SERP (Supplemental Executive Retirement Plan) with phantom stock interests.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing a stock transaction. It doesn't inherently convey 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 stock disposal by an executive, which could be for various personal financial reasons and doesn't necessarily reflect a negative outlook on the company.

Stakeholder Impact

• The stock disposal may have a minor impact on shareholders, depending on the overall market perception of insider transactions.
• The vesting of restricted stock units impacts the executive's compensation and alignment with company performance.

Key Dates