Orange County Bancorp director granted phantom stock
Schiller Jon reported acquisition or exercise transactions in this Form 4 filing.
Rhea-AI Filing Summary
Schiller Jon reported acquisition or exercise transactions in this Form 4 filing.
Orange County Bancorp director Jon Schiller received a new phantom stock award tied to 622 shares of common stock. The award, dated April 1, 2026, is referenced at a price of $32.32 per share and is economically equivalent to common stock, becoming payable upon his separation from service as a director.
Following this grant, Schiller holds 5,433 phantom stock units and 12,473 shares of common stock, both reported as directly owned. Footnotes note additional restricted stock units that vest 100% on February 19, 2027 and are settled in common stock upon his separation from service.
Positive
- None.
Negative
- None.
Insider Trade Summary
Grant/Award: 0 shares
Grant/Award
2 txns
Insider
Schiller Jon
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock | 0 | $32.32 | $0.00 |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Phantom Stock — 5,433 contracts (Direct);
Common Stock — 12,473 shares (Direct)
Footnotes (2)
- F1. 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.
- F2. 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 award underlying shares: 622 shares
Reference price per share: $32.32 per share
Total phantom stock after grant: 5,433 units
+2 more
5 metrics
Phantom award underlying shares
622 shares
Underlying common stock equivalent for April 1, 2026 phantom stock grant
Reference price per share
$32.32 per share
Transaction price per share for phantom stock grant on April 1, 2026
Total phantom stock after grant
5,433 units
Total phantom stock units held following April 1, 2026 grant
Common stock held
12,473 shares
Directly owned common shares after reported transactions
RSU vesting date
February 19, 2027
Restricted stock units vest 100% on this date
Key Terms
Phantom Stock, restricted stock units, economic equivalent
3 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"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did OBT director Jon Schiller report on this Form 4?
Jon Schiller reported a grant of phantom stock economically equivalent to 622 shares of Orange County Bancorp common stock at a reference price of $32.32 per share. This phantom stock becomes payable when he separates from service as a director.
How many phantom stock units does OBT director Jon Schiller now hold?
After the April 1, 2026 grant, Jon Schiller holds 5,433 phantom stock units. Each unit is the economic equivalent of one share of common stock and is payable upon his separation from service as a director of Orange County Bancorp.
What are the key terms of Jon Schiller’s phantom stock award at OBT?
Each phantom stock unit is the economic equivalent of one share of common stock and becomes payable upon Schiller’s separation of service as a director. The April 1, 2026 grant reflects 622 underlying shares at $32.32 per share in the filing.
When do Jon Schiller’s restricted stock units in OBT vest and settle?
Footnotes state that Schiller’s restricted stock units vest 100% on February 19, 2027. They are settled in shares of Orange County Bancorp common stock upon his separation from service, adding to his equity-based compensation profile at that future date.
AI-generated analysis. How Rhea-AI works. Not financial advice.
