Orange County Bancorp (OBT) director granted phantom stock and holds OBT shares
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Keane Kevin J reported acquisition or exercise transactions in this Form 4 filing.
Orange County Bancorp director Kevin J. Keane received a compensation-related grant of phantom stock tied to company shares. On April 1, 2026, he was awarded phantom stock economically equivalent to 622 shares of common stock at a reference value of $32.32 per share, increasing his phantom stock balance to 18,102 units.
The phantom stock and restricted stock units vest 100% either on the grant date or on February 19, 2027, and are settled in common shares when he separates from service. Following this grant, he holds 19,266 common shares directly, plus 7,400 shares through a partnership and 832 shares via a 401(k), reflecting primarily long-term incentive and retirement-related holdings rather than open-market trading.
Positive
- None.
Negative
- None.
Insider Trade Summary
4 transactions reported
Mixed
4 txns
Insider
Keane Kevin J
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock | 0 | $32.32 | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Phantom Stock — 18,102 shares (Direct);
Common Stock — 19,266 shares (Direct);
Common Stock — 7,400 shares (Indirect, By Partnership)
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. 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. 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 grant equivalent shares: 622 shares
Phantom stock reference price: $32.32 per share
Total phantom stock units after grant: 18,102 units
+4 more
7 metrics
Phantom stock grant equivalent shares
622 shares
Underlying common stock for April 1, 2026 phantom stock grant
Phantom stock reference price
$32.32 per share
Transaction price per phantom stock share on April 1, 2026
Total phantom stock units after grant
18,102 units
Phantom stock balance following the reported grant
Direct common stock holdings
19,266 shares
Common stock held directly after the reported transactions
Partnership common stock holdings
7,400 shares
Common stock held indirectly through a partnership
401(k) common stock holdings
832 shares
Common stock held indirectly via a 401(k) plan
RSU vesting date
February 19, 2027
Restricted stock units vest 100% on this date
Key Terms
phantom stock, restricted stock units, vest 100%, settled in shares, +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.
vest 100% financial
"Includes restricted stock units which vest 100% on February 19, 2027"
401(k) financial
"nature_of_ownership": "By 401(k)""
A 401(k) is a type of retirement savings plan offered by employers that allows workers to set aside a portion of their paycheck before taxes are taken out. The money saved in a 401(k) can grow over time through investments, helping individuals build funds for their future retirement. It matters to investors because it provides a tax-advantaged way to save and invest for long-term financial security.
FAQ
What did Orange County Bancorp (OBT) director Kevin J. Keane receive in this Form 4?
Kevin J. Keane received a grant of phantom stock linked to 622 shares of Orange County Bancorp common stock. This award is a form of equity-based compensation, not an open-market purchase or sale, and is payable in stock when his board service ends.
How many phantom stock units does OBT director Kevin J. Keane hold after this grant?
After the April 1, 2026 grant, Kevin J. Keane holds 18,102 phantom stock units. Each unit is economically equivalent to one share of Orange County Bancorp common stock and becomes payable in shares when he separates from service as a director.
How do the restricted stock units for OBT’s Kevin J. Keane vest and settle?
Some restricted stock units for Kevin J. Keane vest 100% on the grant date, while others vest 100% on February 19, 2027. All are settled in Orange County Bancorp common shares when he separates from service, aligning director compensation with long-term shareholder interests.
What is phantom stock in the context of Orange County Bancorp’s Form 4 for Kevin J. Keane?
In this filing, each share of phantom stock is the economic equivalent of one share of OBT common stock. The phantom stock does not represent current share ownership but becomes payable in common shares when Kevin J. Keane leaves his director role.