Orange County Bancorp director receives phantom stock
Orange County Bancorp, Inc. director Marianna R. Kennedy received an equity-based award in the form of phantom stock on April 1, 2026.
Rhea-AI Filing Summary
Orange County Bancorp, Inc. director Marianna R. Kennedy received an equity-based award in the form of phantom stock on April 1, 2026. The grant is classified as a grant/award acquisition and is economically equivalent to 175 shares of common stock.
Each share of phantom stock is the economic equivalent of one share of common stock and becomes payable when she separates from service as a director. Following the transaction, she holds 10,089 phantom stock units and 1,466 shares of common stock directly, along with restricted stock units that vest as described in the footnotes.
Positive
- None.
Negative
- None.
Insider Trade Summary
Grant/Award: 0 shares
Grant/Award
2 txns
Insider
Kennedy Marianna R
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock | 0 | $32.32 | $0.00 |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Phantom Stock — 10,089 contracts (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
Underlying common shares for phantom grant: 175 shares
Phantom stock units after transaction: 10,089 units
Common stock held after transaction: 1,466 shares
+1 more
4 metrics
Underlying common shares for phantom grant
175 shares
Economic equivalent of common stock for April 1, 2026 award
Phantom stock units after transaction
10,089 units
Total phantom stock held following April 1, 2026 grant
Common stock held after transaction
1,466 shares
Direct ownership of Orange County Bancorp common stock
Vesting date for certain RSUs
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% 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.
economic equivalent financial
"Each share of phantom stock is the economic equivalent of one share of common stock"
separation from service financial
"becomes payable upon the reporting person's separation of service as a director"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did OBT director Marianna R. Kennedy report in this Form 4?
Marianna R. Kennedy reported receiving a grant of phantom stock, an equity-based award tied to Orange County Bancorp common stock. The phantom stock is economically equivalent to common shares and is payable when she separates from service as a director, reflecting routine director compensation.
How many phantom stock units does Marianna R. Kennedy hold after this OBT transaction?
After the April 1, 2026 transaction, Marianna R. Kennedy holds 10,089 phantom stock units. Each unit is the economic equivalent of one share of Orange County Bancorp common stock and becomes payable upon her separation from service as a director, according to the disclosed terms.
What is phantom stock in the context of Orange County Bancorp (OBT)?
For Orange County Bancorp, each share of phantom stock is the economic equivalent of one share of common stock. It does not represent actual shares now but becomes payable in shares or cash when the director separates from service, aligning director compensation with shareholder value.
Does this OBT Form 4 show any open-market buying or selling by Marianna R. Kennedy?
The Form 4 reflects a grant or award acquisition of phantom stock, not an open-market purchase or sale. It describes compensation-related equity awards whose value tracks Orange County Bancorp common stock, rather than discretionary trading in the company’s shares.
AI-generated analysis. How Rhea-AI works. Not financial advice.
