Director Marianna R. Kennedy adds phantom stock at Orange County Bancorp (OBT)
Rhea-AI Filing Summary
Kennedy Marianna R reported acquisition or exercise transactions in this Form 4 filing.
Orange County Bancorp director Marianna R. Kennedy reported updated holdings, including a new phantom stock grant. She now directly holds 1,466 shares of common stock and 10,292 phantom stock units. The phantom stock award is economically equivalent to common shares and becomes payable when her board service ends.
The filing notes related restricted stock units that either vest immediately on the grant date or will vest 100% on February 19, 2027, with settlement in common shares upon her separation from service. These awards are structured as compensation rather than open-market stock purchases or sales.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Kennedy Marianna R
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock | 0 | $37.46 | $0.00 |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Phantom Stock — 10,292 shares (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
Common stock held: 1,466 shares
Phantom stock units held: 10,292 units
Phantom stock reference price: $37.46 per unit
+2 more
5 metrics
Common stock held
1,466 shares
Direct ownership after reported transactions
Phantom stock units held
10,292 units
Economic equivalent of common shares, payable at separation
Phantom stock reference price
$37.46 per unit
Price per phantom stock unit for the grant-acquisition entry
Underlying common shares for phantom award
151 shares
Common stock underlying the reported phantom stock grant
RSU vesting date
February 19, 2027
Restricted stock units vest 100% on this date
Key Terms
phantom stock, restricted stock units, settled in shares, grant, award, or other acquisition, +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.
grant, award, or other acquisition financial
"transaction_code_description: Grant, award, or other acquisition"
separation from service financial
"becomes payable upon the reporting person's separation of service as a director"
FAQ
What insider transaction did Orange County Bancorp (OBT) report for Marianna R. Kennedy?
Orange County Bancorp director Marianna R. Kennedy reported a compensation-related grant of phantom stock, increasing her phantom stock holdings to 10,292 units and her direct common stock holdings to 1,466 shares, with no open-market stock purchases or sales disclosed.
What is the size of Marianna R. Kennedy’s phantom stock position in OBT?
Marianna R. Kennedy holds 10,292 phantom stock units tied to Orange County Bancorp. Each phantom stock unit is economically equivalent to one common share and becomes payable when she separates from service as a director, aligning compensation with shareholder value over time.
How does the phantom stock for Orange County Bancorp (OBT) directors work?
Each share of phantom stock is the economic equivalent of one OBT common share and becomes payable upon a director’s separation from service. This structure provides equity-linked compensation without immediate share issuance, deferring settlement into the future when service ends.
What restricted stock units are disclosed for Marianna R. Kennedy at Orange County Bancorp (OBT)?
The filing states that some restricted stock units vest 100% on the grant date, while another block vests 100% on February 19, 2027. Both sets are settled in OBT common shares upon her separation from service as a director, deferring delivery of shares.
AI-generated analysis. How Rhea-AI works. Not financial advice.
