Orange County Bancorp director granted phantom units
OBT director Jon Schiller received a phantom stock award tied to 28 shares and now holds 6,026 phantom units plus 12,473 common shares, including time-vested RSUs.
Rhea-AI Filing Summary
Orange County Bancorp, Inc. (OBT) director Jon Schiller reported an acquisition of phantom stock on September 15, 2026. The award consists of phantom stock units economically equivalent to 28 shares of common stock at a reference value of $38.78 per unit, bringing his direct phantom stock balance to 6,026 units. He also directly holds 12,473 shares of common stock, which include restricted stock units that vest 100% on February 19, 2027 and are settled in shares upon his separation from service. No Rule 10b5-1 trading plan is reported for these transactions.
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 F2 | -- | $38.78 | -- |
| holding | Common Stock F1 | -- | -- | -- |
Holdings After Transaction:
Phantom Stock — 6,026 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 stock underlying shares: 28 shares
Phantom stock reference value: $38.78 per unit
Total phantom stock after transaction: 6,026 units
+2 more
5 metrics
Phantom stock underlying shares
28 shares
Underlying common stock equivalent for the September 15, 2026 phantom stock grant
Phantom stock reference value
$38.78 per unit
Per-unit value associated with the phantom stock grant on September 15, 2026
Total phantom stock after transaction
6,026 units
Direct phantom stock holdings of Jon Schiller following the reported grant
Common stock holdings after transaction
12,473 shares
Direct common stock position, including RSUs, as of September 15, 2026
RSU vesting date
February 19, 2027
Date when included restricted stock units vest 100%
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"
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"
separation from service financial
"settled in shares of Issuer common stock upon separation from service"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did OBT director Jon Schiller report on September 15, 2026?
He reported a grant of phantom stock, economically equivalent to 28 shares of Orange County Bancorp common stock, at a reference value of $38.78 per unit, characterized as a grant, award, or other acquisition.
How many phantom stock units in OBT does Jon Schiller hold after this Form 4?
After the reported transaction, Jon Schiller directly holds 6,026 phantom stock units, each being the economic equivalent of one share of Orange County Bancorp common stock and payable upon his separation of service as a director.
Were Jon Schiller’s OBT transactions made under a Rule 10b5-1 trading plan?
No. The filing indicates that no Rule 10b5-1 plan is affirmed for these transactions, meaning they are not reported as having been executed under a pre-arranged trading plan.
What is phantom stock in the context of OBT’s grant to Jon Schiller?
Each share of phantom stock is described as the economic equivalent of one share of common stock and becomes payable when Jon Schiller separates from service as a director, rather than being an immediately issued share.
When do Jon Schiller’s restricted stock units in OBT vest and settle?
The restricted stock units included in his 12,473 common shares position vest 100% on February 19, 2027. They are settled in shares of Orange County Bancorp common stock upon his separation from service.
AI-generated analysis. How Rhea-AI works. Not financial advice.
