Orange County Bancorp (OBT) director awarded new phantom stock units and reports holdings
Rhea-AI Filing Summary
Morrison William D reported acquisition or exercise transactions in this Form 4 filing.
Orange County Bancorp director William D. Morrison reported equity-related holdings and a new compensation award. The filing shows indirect holdings of 324 shares of common stock through a Roth IRA, 10,932 shares through an IRA, and 102,510 shares held directly. Morrison also received a grant of phantom stock economically equivalent to 11 shares of common stock at $35.35 per unit, bringing his phantom stock balance to 2,178 units. Footnotes explain that certain amounts include restricted stock units that vest either on the grant date or on February 19, 2027 and that both restricted stock units and phantom stock are settled in common shares or cash upon separation from service.
Positive
- None.
Negative
- None.
Insider Trade Summary
4 transactions reported
Mixed
4 txns
Insider
Morrison William D
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock | 0 | $35.35 | $0.00 |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Phantom Stock — 2,178 shares (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
Direct common stock held: 102,510 shares
IRA common stock held: 10,932 shares
Roth IRA common stock held: 324 shares
+3 more
6 metrics
Direct common stock held
102,510 shares
Total shares held directly following transactions on June 15, 2026
IRA common stock held
10,932 shares
Total shares held indirectly by IRA following June 15, 2026
Roth IRA common stock held
324 shares
Total shares held indirectly by Roth IRA following June 15, 2026
Phantom stock price reference
$35.35 per unit
Price per phantom stock unit for grant on June 15, 2026
Phantom stock underlying shares
11 shares equivalent
Underlying common stock equivalent for the new phantom stock grant
Total phantom stock units
2,178 units
Phantom stock balance after the June 15, 2026 award
Key Terms
Phantom Stock, restricted stock units, vest 100%, separation from service, +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"
separation from service financial
"settled in shares of Issuer common stock upon separation from service of the reporting person"
economic equivalent financial
"Each share of phantom stock is the economic equivalent of one share of common stock"
FAQ
What insider activity did Orange County Bancorp (OBT) report for William D. Morrison?
Orange County Bancorp reported that director William D. Morrison updated his common stock holdings and received a new phantom stock award. The filing lists direct, IRA, and Roth IRA share positions, plus additional phantom stock granted as part of director compensation.
What phantom stock grant did William D. Morrison receive from Orange County Bancorp (OBT)?
William D. Morrison received a grant of phantom stock economically equivalent to 11 shares of common stock at $35.35 per unit. Following this award, his total phantom stock balance stands at 2,178 units, which track the value of Orange County Bancorp common stock.
How do Morrison’s restricted stock units in Orange County Bancorp (OBT) vest and settle?
Some of Morrison’s holdings include restricted stock units that vest 100% on the grant date, and others vest 100% on February 19, 2027. According to the disclosure, these units are settled in shares of Orange County Bancorp common stock upon his separation from service.
When does William D. Morrison receive payment for his Orange County Bancorp (OBT) phantom stock?
Each share of phantom stock is the economic equivalent of one common share and becomes payable upon Morrison’s separation from service as a director. At that time, the phantom stock value is delivered according to the company’s plan terms tied to common stock performance.
Is this Orange County Bancorp (OBT) Form 4 a stock purchase or sale by William D. Morrison?
This Form 4 does not report an open-market stock purchase or sale by William D. Morrison. It primarily updates existing share holdings and records a grant of phantom stock units awarded as part of his compensation as a director of Orange County Bancorp.
AI-generated analysis. How Rhea-AI works. Not financial advice.
