Morrison William D 4
4 · Orange County Bancorp, Inc. /DE/ · Filed Feb 23, 2026
Research Summary
AI-generated summary of this filing
Orange County Bancorp Director William D. Morrison Receives Award
What Happened William D. Morrison, a director of Orange County Bancorp, received a grant of 866 restricted stock units (RSUs) on February 19, 2026 (reported at $0.00 per share in the Form 4). On February 20, 2026 he disposed of 995 shares to the issuer — a disposition to the company that typically reflects share withholding for taxes rather than an open-market sale. The filing also reports an additional derivative award on February 20 (no share count provided in the filing excerpt).
Key Details
- Transaction dates: RSU grant on 2026-02-19; disposition to issuer and derivative award recorded on 2026-02-20.
- Prices/values reported: RSU grant listed at $0.00 (standard for awards); disposition price listed as N/A (disposition to issuer).
- Share counts: 866 RSUs granted; 995 shares disposed to issuer; derivative grant listed but no share count specified.
- Shares owned after transaction: not specified in the provided filing excerpt.
- Notable footnotes:
- F1–F4 describe RSU and phantom stock terms (RSUs vesting and/or settling upon separation from service, some vesting 100% on specified dates, and phantom stock payable on separation). F2 notes certain RSUs were deferred into the company’s Stock-Based Deferral Plan and include accumulated dividends.
- Filing timeliness: Reported period includes transactions through 02/20/2026; Form 4 was filed on 02/23/2026 and appears timely (within the SEC’s two-business-day rule).
Context This activity is primarily an award of RSUs to a director, a common form of director compensation. The disposal to the issuer is typically a withholding action to satisfy tax obligations and should not be read as an open-market sale signaling sentiment. The derivative entries reflect deferred or phantom stock arrangements that convert or pay out upon separation from service.
Insider Transaction Report
- Award
Common Stock
[F4][F1][F2]2026-02-19+866→ 103,505 total - Disposition to Issuer
Common Stock
[F2][F1]2026-02-20−995→ 102,510 total - Award
Phantom Stock
[F3][F2]2026-02-20→ 2,154 total→ Common Stock (1,011 underlying)
- 10,932(indirect: By IRA)
Common Stock
- 324(indirect: By IRA)
Common Stock
Footnotes (4)
- [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]Restricted stock units which vest 100% on February 20, 2026 (including accumulated dividends) and were deferred into the Orange County Bancorp, Inc. Stock-Based Deferral Plan, as amended and restated. The restricted stock units will settle in shares of Issuer common stock upon the reporting person's separation from service.
- [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.
- [F4]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.