[SCHEDULE 13G/A] Orange County Bancorp, Inc. SEC Filing
Bay Pond Partners, L.P. reports a passive ownership stake in Orange County Bancorp, Inc., holding 543,779 shares representing 4.07% of the outstanding common stock. The filing shows Bay Pond has shared voting and shared dispositive power over those shares and no sole voting or dispositive power, indicating decision authority is shared rather than exercised alone.
The filer certifies the securities were not acquired to change or influence control of the issuer and are not held in connection with any transaction having that purpose. The filing classifies the reporting person as a PN (partnership) organized in Delaware.
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Insights
TL;DR Bay Pond holds a non-controlling, sub-5% passive stake (543,779 shares, 4.07%), signaling limited immediate market impact.
Bay Pond's reported position of 543,779 shares (4.07%) is below the 5% threshold that typically triggers heightened market scrutiny. The filing records shared voting and dispositive power, not sole control, and contains an explicit certification that the holdings were not acquired to influence control. For investors, this is a disclosure of ownership rather than an operational or strategic move; it documents a meaningful but non-controlling exposure to Orange County Bancorp.
TL;DR The disclosure documents shared governance rights but affirms passive intent, implying no immediate takeover or control ambitions.
The schedule shows the reporting person is a partnership organized in Delaware with shared voting and dispositive authority over the disclosed shares and no sole powers. The certification language expressly states the position was not acquired to influence control, consistent with a passive investor filing under Schedule 13G procedures. Governance impact is limited given the 4.07% stake and the reported shared, not sole, authorities.