Lesler Michael 4

What Happened

• Michael Lesler, Chief Financial Officer of Orange County Bancorp (OBT), received a derivative equity award reported on Form 4 dated 2026-06-15. The filing lists the award price/fair value as $35.35 per share, but does not disclose a specific number of shares acquired (reported as N/A). This was an award/grant (compensation), not an open-market purchase or sale.

Key Details

• Transaction date: 2026-06-15; Form 4 filed: 2026-06-17 (timely filing).
• Price/fair value noted: $35.35 per share. Number of shares acquired: N/A (derivative award/units).
• Vesting/settlement notes: footnotes indicate restricted stock units vesting at 1/3 per year with commencement dates of 3/21/2025, 3/20/2026, and 3/19/2027 (see F1–F3). Additional phantom stock interests under a Performance‑Based SERP may be settled in shares upon distribution based on the reporting person’s election (F5).
• Footnote F4 notes certain related transactions are not required to be reported under Section 16.
• No post-transaction share total is shown on the provided information.

Context

• This was a compensation grant of restricted/phantom units (a derivative award). Such awards do not immediately increase tradable shares unless and until they vest and are settled; they are not the same as an open-market purchase (which some investors view as a stronger bullish signal). The filing contains vesting and settlement terms that determine when and if these units convert to actual shares.