Orange County Bancorp (NYSE: OBT) director adds phantom stock units in new Form 4
Rhea-AI Filing Summary
Kennedy Marianna R reported acquisition or exercise transactions in this Form 4 filing.
Orange County Bancorp director Marianna R. Kennedy reported updated equity holdings. She holds 1,466 shares of common stock directly after the reported transactions. She also received a phantom stock award that is economically equivalent to 51 shares of common stock, bringing her phantom stock balance to 10,141 units.
Footnotes explain that her restricted stock units vest either immediately on the grant date or on February 19, 2027, and are settled in common shares when she separates from service. Each phantom stock unit is the economic equivalent of one common share and becomes payable upon her separation as a director.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Kennedy Marianna R
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock | 0 | $35.35 | $0.00 |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Phantom Stock — 10,141 shares (Direct);
Common Stock — 1,466 shares (Direct)
Footnotes (3)
- F1. Includes restricted stock units which vest 100% as of the date of grant and are settled in shares of Issuer common stock upon separation from service of the reporting person.
- F2. 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.
- F3. 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 held: 1,466 shares
Phantom stock balance: 10,141 units
New phantom stock grant equivalent: 51 shares
+2 more
5 metrics
Common stock held
1,466 shares
Total common shares directly owned after transactions
Phantom stock balance
10,141 units
Total phantom stock units after grant
New phantom stock grant equivalent
51 shares
Underlying common stock equivalent for new award
Reference price per phantom unit
$35.35 per unit
Price associated with the phantom stock grant
RSU vesting date
February 19, 2027
Future 100% vesting date for certain RSUs
Key Terms
Phantom Stock, restricted stock units, vest 100%, separation from service, +1 more
5 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% as of the date of grant"
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.
vest 100% financial
"restricted stock units which vest 100% on February 19, 2027"
separation from service financial
"settled in shares of Issuer common stock upon separation from service"
grant, award, or other acquisition financial
"transaction_code_description: Grant, award, or other acquisition"
FAQ
What did Orange County Bancorp (OBT) director Marianna R. Kennedy report in this Form 4?
She reported her current equity holdings, including 1,466 shares of common stock and 10,141 phantom stock units. The filing also shows a new phantom stock award economically equivalent to 51 common shares, granted as director compensation.
What is the size of Marianna R. Kennedy’s new phantom stock award at Orange County Bancorp (OBT)?
The new phantom stock award is tied to 51 underlying common shares at a reference price of $35.35 per unit. This grant increases her total phantom stock balance to 10,141 units, each economically equivalent to one common share upon payout.
How do Marianna R. Kennedy’s phantom stock units in Orange County Bancorp (OBT) work?
Each phantom stock unit is the economic equivalent of one Orange County Bancorp common share and becomes payable when she separates from service as a director. This structure provides equity-linked compensation without immediate issuance of actual common shares.
What do the restricted stock unit footnotes mean in the Orange County Bancorp (OBT) Form 4?
Footnotes state some restricted stock units vest 100% on the grant date, while others vest 100% on February 19, 2027. All such units are settled in common stock only upon Marianna R. Kennedy’s separation from service with the company.
AI-generated analysis. How Rhea-AI works. Not financial advice.
