Orange County Bancorp director granted 10 phantom shares
OBT director William D. Morrison received a small phantom stock grant, increasing his phantom balance while maintaining substantial direct and IRA-based common stock holdings.
Rhea-AI Filing Summary
Orange County Bancorp, Inc. (symbol: OBT) is the issuer of record for a Form 4 filing submitted to the SEC. Morrison William D reported acquisition or exercise transactions in this Form 4 filing.
Orange County Bancorp, Inc. (OBT) director William D. Morrison received a grant of 10 shares of phantom stock on September 15, 2026, at an economic value of $38.78 per share. This award brings his reported phantom stock balance to 2,188 shares, each economically equivalent to one share of common stock and payable upon his separation from service as a director. He also reports 102,510 shares of common stock held directly (including restricted stock units described in the notes), and indirect holdings of 10,932 shares through an IRA and 324 shares through a Roth IRA.
Positive
- None.
Negative
- None.
Insider Trade Summary
Grant/Award: 0 shares
Grant/Award
4 txns
Insider
Morrison William D
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock F3 | -- | $38.78 | -- |
| holding | Common Stock F1, F2 | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Phantom Stock — 2,188 contracts (Direct);
Common Stock — 102,510 shares (Direct);
Common Stock — 10,932 shares (Indirect, By IRA);
Common Stock — 324 shares (Indirect, By Roth IRA)
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
Phantom stock granted: 10 shares
Phantom stock grant value: $38.78 per share
Total phantom stock after grant: 2,188 shares
+3 more
6 metrics
Phantom stock granted
10 shares
Grant to director on September 15, 2026
Phantom stock grant value
$38.78 per share
Economic value per phantom stock share on grant date
Total phantom stock after grant
2,188 shares
Director’s phantom stock balance following the award
Direct common stock holdings
102,510 shares
Common stock held directly, including specified RSUs
Indirect IRA holdings
10,932 shares
Common stock held indirectly by IRA
Indirect Roth IRA holdings
324 shares
Common stock held indirectly by Roth IRA
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% as of the date"
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 William D. Morrison report?
He reported a grant of 10 shares of phantom stock on September 15, 2026, at an economic value of $38.78 per share, increasing his phantom stock holdings to 2,188 shares, each economically equivalent to one share of Orange County Bancorp common stock.
What are William D. Morrison’s direct common stock holdings in OBT after this filing?
He reports 102,510 shares of common stock held directly. This amount includes restricted stock units that either vested 100% on the grant date or will vest 100% on February 19, 2027, all settled in shares upon his separation from service.
What indirect Orange County Bancorp (OBT) holdings does the director report?
He reports 10,932 shares of OBT common stock held indirectly by an IRA and 324 shares held indirectly by a Roth IRA, in addition to his direct and phantom stock positions.
Is the OBT director’s reported transaction under a Rule 10b5-1 trading plan?
The filing indicates no Rule 10b5-1 trading plan; the document-level checkbox for such a plan is not marked, and no footnote states that the reported phantom stock grant was made pursuant to a pre-arranged trading plan.
When do the director’s phantom stock and restricted stock units become payable or settle?
Each phantom stock share becomes payable upon his separation of service as a director. The restricted stock units vest either immediately or on February 19, 2027 and are settled in common stock upon his separation from service.
AI-generated analysis. How Rhea-AI works. Not financial advice.
