Orange County Bancorp (OBT) director awarded phantom stock tied to shares
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Orange County Bancorp, Inc. director Gregory F. Holcombe received a grant of phantom stock tied to the company’s common shares. On April 1, 2026, he acquired phantom stock economically equivalent to 701 shares of common stock at a reference value of $32.32 per unit, increasing his phantom stock holdings to 24,847 units.
Each phantom stock unit is the economic equivalent of one share of common stock and becomes payable after his separation from service as a director. Following this grant, he also holds 68,824 shares of common stock directly and additional common shares indirectly through a foundation and three trusts, reflecting a sizable, largely long-term equity-based position rather than an open-market trade.
Positive
- None.
Negative
- None.
Insider Trade Summary
6 transactions reported
Mixed
6 txns
Insider
HOLCOMBE GREGORY F
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock | 0 | $32.32 | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Phantom Stock — 24,847 shares (Direct);
Common Stock — 68,824 shares (Direct);
Common Stock — 14,920 shares (Indirect, By Foundation)
Footnotes (1)
- 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. 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
Phantom stock underlying shares: 701 shares
Phantom stock reference price: $32.32 per unit
Phantom stock units after grant: 24,847 units
+5 more
8 metrics
Phantom stock underlying shares
701 shares
Economic equivalent of common stock in April 1, 2026 grant
Phantom stock reference price
$32.32 per unit
Grant value per phantom stock unit on April 1, 2026
Phantom stock units after grant
24,847 units
Total phantom stock holdings following April 1, 2026 acquisition
Direct common stock holding
68,824 shares
Directly owned Orange County Bancorp common stock after reported transactions
Foundation indirect holding
14,920 shares
Common stock held indirectly by foundation
Trust 1 indirect holding
12,054 shares
Common stock held indirectly by Trust 1
Trust 2 indirect holding
34,720 shares
Common stock held indirectly by Trust 2
Trust 3 indirect holding
34,720 shares
Common stock held indirectly by Trust 3
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
"Includes 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 of the reporting person"
economic equivalent financial
"Each share of phantom stock is the economic equivalent of one share of common stock"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did Gregory F. Holcombe report in this Form 4 for OBT?
Gregory F. Holcombe reported receiving a grant of phantom stock linked to Orange County Bancorp (OBT) common shares. The award represents the economic equivalent of 701 shares, adding to his existing equity-based holdings as a director, with payment deferred until separation from service.
How many phantom stock units does the OBT director hold after this grant?
After the grant, the director holds 24,847 phantom stock units. Each unit is economically equivalent to one share of common stock and becomes payable when he separates from service as a director, aligning his compensation with the long-term performance of Orange County Bancorp.
What is the reference price for the OBT phantom stock grant?
The phantom stock grant references a value of $32.32 per unit. This price is used to determine the economic value of the grant, which is tied one-for-one to Orange County Bancorp common stock and settled in cash or stock upon separation from service, as described.
Does this OBT Form 4 show any open-market stock sales or purchases?
This Form 4 does not show open-market buys or sells. It reflects a grant of phantom stock, a compensation-related award, plus updates to direct and indirect common stock holdings. These awards generally signal ongoing alignment with shareholders rather than trading activity.
What do the OBT Form 4 footnotes say about phantom stock and RSUs?
The footnotes explain that phantom stock units each equal one common share economically and pay out upon separation from service. They also note that certain restricted stock units vest fully either on the grant date or on February 19, 2027, with settlement in common stock at separation.