Orange County Bancorp (OBT) director reports stock awards and share disposition
Rhea-AI Filing Summary
Orange County Bancorp director William D. Morrison reported a mix of equity awards and a share disposition in recent Form 4 activity. On February 19, 2026, he received a grant of 866 shares of common stock as a stock award, increasing his directly held common shares to 103,505. On February 20, 2026, he disposed of 995 common shares in a disposition to the issuer, leaving 102,510 directly owned shares.
He also reported a grant of phantom stock, which the footnotes state is economically equivalent to common stock and becomes payable in shares upon his separation from service as a director. Additional restricted stock units vest 100% on February 20, 2026 and February 19, 2027 and will be settled in common shares upon his separation from service. Indirect holdings include 10,932 common shares by IRA and 324 common shares by Roth IRA as of February 19, 2026.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock | 0 | $0.00 | -- |
| Disposition | Common Stock | 995 | $0.00 | -- |
| Grant/Award | Common Stock | 866 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- 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. Restricted stock units which vest 100% on February 20, 2026 (including accumulated dividends) and were deferred into the Orange County Bancorp, Inc. Stock-Based Deferral Plan, as amended and restated. The restricted stock units will settle in shares of Issuer common stock upon the reporting person's separation from service. 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. 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.
