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Director at Orange County Bancorp (NASDAQ: OBT) gets phantom stock grant

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

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 Schiller Jon
Role Director
Type Security Shares Price Value
Grant/Award Phantom Stock 0 $32.32 --
holding Common Stock -- -- --
Holdings After Transaction: Phantom Stock — 5,433 shares (Direct); Common Stock — 12,473 shares (Direct)
Footnotes (1)
  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.
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
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"
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Schiller Jon
(Last)(First)(Middle)
212 DOLSON AVENUE
(Street)
MIDDLETOWN NEW YORK 10940
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
Orange County Bancorp, Inc. /DE/ [ OBT ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
04/01/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeVAmount(A) or (D)Price
Common Stock12,473(1)D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year)3A. Deemed Execution Date, if any (Month/Day/Year)4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year)7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Phantom Stock(2)04/01/2026A$622 (2) (2)Common Stock622$32.325,433D
Explanation of Responses:
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.
2. 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.
/s/ Jennifer Staub, pursuant to power of attorney04/02/2026
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

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.

How many Orange County Bancorp (OBT) common shares does Jon Schiller own?

The filing shows Jon Schiller directly owning 12,473 shares of Orange County Bancorp common stock after the reported transactions. This figure reflects his direct holdings, separate from phantom stock and restricted stock unit awards disclosed in the same report.

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.