Lesler Michael 4

What Happened
Michael Lesler, Chief Financial Officer of Orange County Bancorp (OBT), was reported as receiving a derivative equity award on 2026-02-19. The filing lists an acquisition-type transaction (award/grant) with a per-share value of $28.38, but the number of shares/units acquired is not specified (reported as N/A). This is an award of restricted/phantom stock units (not an open-market purchase or sale) and represents a compensation/benefit event rather than an immediate buy or sell.

Key Details

• Transaction date: 2026-02-19; Filing date: 2026-02-23 (report shows the period ended 2026-02-19).
• Price/value reported: $28.38 per share (share count not reported — N/A).
• Shares owned after transaction: Not specified in the filing.
• Footnotes of note: filing references restricted stock units that vest 1/3 per year (vesting commencement dates shown in footnotes: 12/23/2023; 3/11/2024; 3/21/2025; 3/20/2026). Another footnote indicates phantom stock interests under a Performance‑Based SERP that may be settled in shares upon distribution.
• Filing specifics: this is an award (transaction code A); no sale or purchase was reported. The filing does not state late filing status.

Context
This was an equity award (RSUs/phantom units) that typically vest over time and are not immediately tradable shares — they represent future economic interest and may convert to shares when vested or distributed. Awards and tax-withholding events are common executive compensation actions and do not by themselves indicate an insider buying or selling on market sentiment. Watch future Form 4s for vesting-related share issuances or any subsequent open-market transactions.