Schiller Jon 4

What Happened Jon Schiller, a director of Orange County Bancorp (OBT), received a grant/award of derivative equity on 2026-06-15. The Form 4 lists the transaction as an award (code A) with a per-share price of $35.35, but the number of shares acquired and total value are reported as N/A. The awards are derivative in nature (restricted stock units and phantom stock), not an open-market purchase or sale.

Key Details

• Transaction date: 2026-06-15; Form 4 filed 2026-06-17 (filed within the typical 2-business-day reporting window).
• Shares reported as acquired: N/A (number not disclosed on the filing).
• Per-share value shown: $35.35; total value: N/A.
• Footnote F1: Includes RSUs that vest 100% on February 19, 2027, and are settled in issuer common stock upon the reporting person’s separation from service.
• Footnote F2: Phantom stock equals the economic equivalent of common shares and becomes payable upon the reporting person’s separation as a director.
• Filing type: Award/grant of derivative securities (not a purchase or sale).

Context These awards are deferred/derivative compensation—RSUs vest on a future date (or settle upon separation) and phantom stock pays out upon separation—so they do not represent immediate open-market buying or selling. Such grants are common for directors as compensation and do not by themselves indicate the director is trading on company shares.