Gilfeather Michael J 4

What Happened

• Michael J. Gilfeather, President & CEO and a director of Orange County Bancorp (OBT), was granted 4,241 restricted stock units (RSUs) on February 19, 2026 (transaction code A — award/grant). The filing reports those RSUs at $0.00 per share (compensation grant). The filing also reports an additional derivative award priced at $28.35 per unit, with the number of units not specified in the Form 4.

Key Details

• Transaction date: 2026-02-19; Form 4 filed: 2026-02-23 (filed within the SEC’s 2-business-day deadline).
• Reported prices: 4,241 RSUs at $0.00 (award); derivative units shown at $28.35 per unit (number of derivative units not disclosed).
• Shares owned after transaction: not disclosed in this filing.
• Footnotes in the filing (F1–F5) indicate multiple vesting schedules for RSUs (many vest 1/3 per year beginning on various 2024–2026 dates, one vests on 12/31/2026) and that phantom stock awards are the economic equivalent of common shares payable upon separation of service.
• Transaction code: A = Award/Grant (not a purchase or sale).

Context

• RSUs and phantom/derivative stock awards are compensation-based grants that typically vest over time and are not immediate open-market purchases. The derivative/phantom units are described as economically equivalent to common shares and become payable upon separation (per footnote).
• These grants reflect company compensation decisions rather than a direct market buy or sell by the insider; they do not, by themselves, indicate an immediate bullish or bearish trading signal.