Gilfeather Michael J 4

What Happened
Michael J. Gilfeather, President, CEO and Director of Orange County Bancorp (OBT), received an award of derivative equity on 2026-06-15 reported at $35.35 per share. The filing lists the transaction as an award/acquisition of derivative securities (code A) but does not specify the number of units or the aggregate value (both reported as N/A). This was an equity compensation grant (restricted stock units and/or phantom stock), not an open‑market purchase or sale.

Key Details

• Transaction date: 2026-06-15; Form 4 filed: 2026-06-17 (timely filing).
• Transaction type/code: Award/other acquisition (A) of derivative securities (RSUs/phantom stock).
• Reported price per share: $35.35; number of units acquired: N/A; total value: N/A.
• Shares owned after transaction: N/A (not disclosed in the report).
• Footnote summaries (vesting/terms):
  • F1: RSUs vest 1/3 per year starting March 21, 2025.
  • F2: RSUs vest 1/3 per year starting March 20, 2026.
  • F3: RSUs vest on December 31, 2026.
  • F4: RSUs vest 1/3 per year starting March 19, 2027.
  • F5: RSUs vest on March 19, 2029.
  • F6: Phantom stock equals the economic value of one share and becomes payable upon separation of service as a director.

Context
Restricted stock units and phantom stock are derivative compensation: they represent future economic interest but are typically not immediately tradable and vest according to schedules above. Such awards are common executive compensation and do not by themselves indicate buying or selling sentiment in the market.