Form 4: Orange County Bancorp SVP Stephen Rooney Disposes of Shares to Cover Tax Obligations
SEC Form 4 Filing
Stephen Rooney, SVP and Chief Credit Officer of Orange County Bancorp, Inc., disposed of 360 shares of common stock on November 8, 2024, to cover tax obligations.
Summary
- On November 8, 2024, Stephen Rooney, the SVP and Chief Credit Officer of Orange County Bancorp, Inc., disposed of 360 shares of common stock.
- The transaction was executed at a price of $62.09 per share.
- The disposal was related to covering tax obligations.
- Following the transaction, Rooney beneficially owns 3,875 shares of Orange County Bancorp, Inc.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing related to an insider transaction. It doesn't inherently convey positive or negative sentiment.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to monitor potential shifts in sentiment or alignment of interests.
Stakeholder Impact
- The disposal of shares by an executive could be perceived negatively by some shareholders, but the stated reason of covering tax obligations mitigates this concern.
Key Dates
| Date | Description |
|---|---|
| 11/08/2023 | Commencement date for vesting of restricted stock units at a rate of 1/3 per year. |
| 03/11/2024 | Commencement date for vesting of restricted stock units at a rate of 1/3 per year. |
| 11/08/2024 | Date of transaction: Disposal of 360 shares of common stock. |
| 03/21/2025 | Commencement date for vesting of restricted stock units at a rate of 1/3 per year. |
| 11/12/2024 | Date of signature for the Form 4 filing. |
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