Gilfeather Michael J 4
4 · Orange County Bancorp, Inc. /DE/ · Filed Mar 12, 2026
Research Summary
AI-generated summary of this filing
Orange County Bancorp (OBT) CEO Michael Gilfeather Surrenders 1,682 Shares
What Happened
Michael J. Gilfeather, President & CEO and a director of Orange County Bancorp, disposed of 1,682 shares on March 10, 2026. The shares were surrendered/withheld to satisfy tax withholding obligations (transaction code F) at a reported price of $31.47 per share, for a total value of approximately $52,933. This is a routine tax-withholding disposition tied to equity awards rather than an open-market sale.
Key Details
- Transaction date: 2026-03-10; Form 4 filed: 2026-03-12.
- Disposed: 1,682 shares at $31.47 each; total value ≈ $52,933.
- Transaction code F = payment of exercise price or tax liability (share withholding).
- Shares owned after the transaction: not specified in the provided filing summary.
- Footnotes on the filing indicate multiple types of restricted stock units (RSUs) and phantom stock:
- F1–F4: Various RSUs vesting schedules (1/3 per year starting 3/11/2024, 3/21/2025, 3/20/2026, and one vesting on 12/31/2026).
- F5: Phantom stock units are economically equivalent to shares and payable upon separation as a director.
- Filing appears timely (reported two days after the transaction); no late-filing flag indicated.
Context
This was a tax-withholding share surrender tied to equity awards (RSUs/phantom stock), which is a routine administrative transaction and does not necessarily signal a change in the insider’s view of the company. For derivative-related dispositions, the filing clarifies these were withholdings to cover tax liabilities rather than open-market sales or purchases.
Insider Transaction Report
- Tax Payment
Common Stock
[F1][F2][F3][F4]2026-03-10$31.47/sh−1,682$52,933→ 109,347 total
- 16,200(indirect: By IRA)
Common Stock
- 26,309
Phantom Stock
[F5]→ Common Stock (26,309 underlying)
Footnotes (5)
- [F1]Includes restricted stock units which vest at a rate of 1/3 per year commencing on March 11, 2024.
- [F2]Includes restricted stock units which vest at a rate of 1/3 per year commencing on March 21, 2025.
- [F3]Includes restricted stock units which vest at a rate of 1/3 per year commencing on March 20, 2026.
- [F4]Includes restricted stock units which vest on December 31, 2026.
- [F5]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.