Sousa Gregory 4

What Happened

• Gregory Sousa, EVP and Deputy Chief Legal Officer of Orange County Bancorp (OBT), received a grant/award reported as a derivative acquisition on Feb 19, 2026. The filing lists a per-share reference price of $28.38 but shows the number of shares acquired as "N/A" and does not disclose a total dollar value. This was an award (compensation), not a market purchase or sale.

Key Details

• Transaction date: 2026-02-19; Form 4 filed: 2026-02-23 (filed within the typical two-business-day reporting window).
• Reported price reference: $28.38 per share; reported shares acquired: N/A (derivative award — no immediate share count provided).
• Shares owned after transaction: not specified in the filing.
• Footnotes of interest:
  • F1–F3: Portions of awards are restricted stock units (RSUs) that vest 1/3 per year, with vesting commencement dates of Mar 11, 2024; Mar 21, 2025; and Mar 20, 2026 respectively.
  • F4: Some items reflect transactions not required to be reported under Section 16.
  • F5: Includes phantom stock interests under a Performance‑Based SERP that may be settled in company shares upon distribution, depending on prior elections.
• Filing timeliness: filed Feb 23, 2026 — within the standard reporting window for a Feb 19 transaction.

Context

• This was an equity award (RSUs and/or phantom stock) used for compensation. Such awards vest over time and do not represent an immediate cash purchase or sale of stock; they may convert to shares later or be settled in cash depending on plan terms. Awards are routine executive compensation and should not be interpreted alone as a strong buy/sell signal.