Morrison William D 4

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.