Orange County Bancorp (OBT) director updates holdings with new phantom stock grant
Filing Impact
Filing Sentiment
Form Type
4/A
Rhea-AI Filing Summary
Tirado Olga Luz reported acquisition or exercise transactions in this Form 4 filing.
Orange County Bancorp director Olga Luz Tirado reported updated equity holdings, including a grant of phantom stock as director compensation. She now directly holds 2,963 shares of common stock, which include restricted stock units that vest 100% on February 19, 2027 and are settled in common shares upon her separation from service. Tirado also holds 284 shares of phantom stock, each economically equivalent to one share of common stock and payable when her service as a director ends.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Tirado Olga Luz
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock | 0 | $35.35 | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Phantom Stock — 284 shares (Direct, null);
Common Stock — 2,963 shares (Direct, null)
Footnotes (1)
- Includes restricted stock units which vest 100% on February 19, 2027, and are settled in shares of Issuer common stock upon separation from service of the reporting person. Each share of phantom stock is the economic equivalent of one share of common stock and becomes payable upon the reporting person's separation of service as a director.
Key Figures
Common stock holdings: 2,963 shares
Phantom stock units: 284 units
Phantom stock reference price: $35.3500 per unit
+2 more
5 metrics
Common stock holdings
2,963 shares
Shares of common stock held directly after transactions
Phantom stock units
284 units
Phantom stock economically equivalent to common shares after transaction
Phantom stock reference price
$35.3500 per unit
Transaction price per phantom stock unit
Underlying common shares
2 shares
Underlying common stock associated with reported phantom stock entry
RSU vesting date
February 19, 2027
Restricted stock units vest 100% on this date
Key Terms
Phantom Stock, restricted stock units, economic equivalent, separation from service
4 terms
Phantom Stock financial
"Each share of phantom stock is the economic equivalent of one share of common stock"
A phantom stock is a form of compensation that gives employees or executives the benefits of stock ownership, such as the increase in stock value, without actually giving them real shares. It acts like a promise to pay the employee the equivalent value of company stock later, often as a bonus or incentive. This allows companies to motivate and reward staff without diluting ownership or transferring actual shares.
restricted stock units financial
"Includes restricted stock units which vest 100% on February 19, 2027"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
economic equivalent financial
"Each share of phantom stock is the economic equivalent of one share of common stock"
separation from service financial
"settled in shares of Issuer common stock upon separation from service of the reporting person"
FAQ
What insider transaction did OBT director Olga Luz Tirado report?
Olga Luz Tirado reported an acquisition of phantom stock as director compensation. The filing also updates her direct holdings of Orange County Bancorp common stock and related equity awards, providing a snapshot of her current ownership position with the company.
What is the vesting schedule for Olga Luz Tirado’s restricted stock units at OBT?
Her restricted stock units vest 100% on February 19, 2027. After vesting, these units are settled in shares of Orange County Bancorp common stock upon her separation from service, aligning the award with her long-term role as a director.
What is phantom stock in the Orange County Bancorp (OBT) Form 4/A filing?
In this filing, phantom stock is described as economically equivalent to one share of common stock. Each phantom share becomes payable when Olga Luz Tirado’s service as a director ends, functioning as a cash-settled or share-settled deferred compensation unit.
How many phantom stock units tied to OBT common stock does Olga Luz Tirado hold?
Following the reported transaction, she holds 284 phantom stock units. Each unit mirrors the economic value of one Orange County Bancorp common share and becomes payable upon her separation from service as a director, providing deferred, performance-linked compensation.