Schiller Jon 4

What Happened
Jon Schiller, a director of Orange County Bancorp, reported receiving a grant/award of derivative equity on March 16, 2026 (reported March 17, 2026). The filing lists an acquisition-type transaction (Code A) with a reported price of $31.29 per share, but the number of shares/units was reported as N/A, so no total value or post-transaction share count is disclosed.

Key Details

• Transaction date: 2026-03-16; filing date: 2026-03-17.
• Reported price per share/unit: $31.29; reported share/unit count: N/A (not disclosed).
• Shares owned after transaction: not disclosed in the filing.
• Footnote F1: Includes restricted stock units (RSUs) that vest 100% on Feb 19, 2027 and will be settled in issuer common stock upon the reporting person's separation from service.
• Footnote F2: Phantom stock units are the economic equivalent of one share of common stock and become payable upon the reporting person's separation of service as a director.
• Transaction type: Award/grant of derivative securities (Code A); not marked as late.

Context
This was an equity award (restricted stock units and phantom stock), not an open-market purchase or sale. RSUs and phantom stock are generally compensation arrangements that do not immediately transfer tradable shares—vesting and settlement (here tied to a 2/19/2027 vest date and/or separation of service) determine when or if shares/cash are delivered. Such awards are common director compensation and should be viewed as a grant rather than a direct buy or sell signal.