[Form 4] Orange County Bancorp, Inc. /DE/ Insider Trading Activity
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Lesler Michael reported acquisition or exercise transactions in this Form 4 filing.
Orange County Bancorp, Inc. executive vice president and chief financial officer Michael Lesler reported updated equity holdings, including a new award of phantom stock tied to the company’s Performance-Based SERP. The phantom stock grant, recorded at $35.35 per unit with 13.0000 underlying common shares, brings his total phantom stock interests to 2,532 units.
Lesler also reported indirect holdings of 2,000 shares of common stock in an IRA and 1,623 shares in a 401(k), along with 16,216 shares held directly. Some of these positions include restricted stock units that vest in thirds beginning on March 21, 2025, March 20, 2026, and March 19, 2027. Phantom stock interests under the Performance-Based SERP may be settled in company shares upon distribution, based on his prior election.
Positive
- None.
Negative
- None.
Insider Trade Summary
4 transactions reported
Mixed
4 txns
Insider
Lesler Michael
Role
EVP, Chief Financial Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock | 0 | $35.35 | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Phantom Stock — 2,532 shares (Direct, null);
Common Stock — 16,216 shares (Direct, null);
Common Stock — 1,623 shares (Indirect, By 401(k))
Footnotes (1)
- Includes restricted stock units which vest at a rate of 1/3 per year commencing on March 21, 2025. Includes restricted stock units which vest at a rate of 1/3 per year commencing on March 20, 2026. Restricted stock units which vest at a rate of 1/3 per year commencing on March 19, 2027. Reflects transactions not required to be reported pursuant to Section 16 of the Securities Exchange Act of 1934, as amended. Represents deemed investments in connection with the Performance-Based SERP. Phantom stock interests under the Performance-Based SERP may be settled in shares of Company stock upon distribution to the reporting person, based on their prior election.
Key Figures
Phantom stock price: $35.35 per unit
Underlying common shares: 13 shares
Total phantom stock interests: 2,532 units
+3 more
6 metrics
Phantom stock price
$35.35 per unit
Recorded grant value for phantom stock
Underlying common shares
13 shares
Common stock underlying new phantom stock interests
Total phantom stock interests
2,532 units
Phantom stock balance after the grant
Direct common stock
16,216 shares
Direct holdings of Orange County Bancorp common stock
IRA common stock
2,000 shares
Indirect holdings via IRA
401(k) common stock
1,623 shares
Indirect holdings via 401(k) plan
Key Terms
Phantom stock, Performance-Based SERP, restricted stock units, Section 16 of the Securities Exchange Act of 1934
4 terms
Phantom stock financial
"Represents deemed investments in connection with the Performance-Based SERP. Phantom stock interests..."
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.
Performance-Based SERP financial
"Represents deemed investments in connection with the Performance-Based SERP. Phantom stock interests..."
restricted stock units financial
"Includes restricted stock units which vest at a rate of 1/3 per year..."
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.
Section 16 of the Securities Exchange Act of 1934 regulatory
"Reflects transactions not required to be reported pursuant to Section 16 of the Securities Exchange Act of 1934..."
A provision of federal securities law that requires company insiders—directors, officers and large shareholders—to publicly report their stock holdings and trades and to surrender any “short-swing” profits from purchases and sales within a six-month window. It acts like a rule that forces leaders to announce their trades and prevents quick buy-sell windfalls, giving investors transparency into insider activity and reducing opportunities for unfair gain.
