Form 4: Orange County Bancorp Officer Reports Stock Disposal for Tax Obligations
SEC Form 4 Filing
Joseph A. Ruhl, a Regional President at Orange County Bancorp, disposed of 229 shares of common stock to cover tax obligations related to vesting restricted stock units.
Summary
- On March 11, 2024, Joseph A. Ruhl, a Regional President at Orange County Bancorp, disposed of 229 shares of common stock.
- The transaction was executed to satisfy tax obligations related to the vesting of restricted stock units.
- The price per share was $45.2.
- Following the transaction, Ruhl beneficially owns 12,849 shares of Orange County Bancorp.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing a stock disposal for tax purposes, which is neither particularly positive nor negative.
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 practice of covering tax obligations related to equity compensation.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a small disposal of shares by an officer to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| February 15, 2022 | Commencement date for 1/3 per year vesting of restricted stock. |
| September 21, 2022 | Commencement date for 1/3 per year vesting of restricted stock units. |
| February 15, 2023 | Commencement date for 1/3 per year vesting of restricted stock units. |
| March 11, 2024 | Date of stock disposal transaction. |
| March 11, 2024 | Commencement date for 1/3 per year vesting of restricted stock units. |
| March 13, 2024 | Date of signature for the report. |
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