Gilfeather Michael J 4

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.