Lekanides Phillip 4

What Happened

• Phillip Lekanides, Senior Vice President and Chief Accounting Officer of Rhinebeck Bancorp (RBKB), received two awards of company stock on 2026-07-21. He was granted 500 shares at $10.00 each ($5,000) and 1,368 shares at $10.00 each ($13,680), for a total of 1,868 shares valued at $18,680.
• These were awards/acquisitions (code A) — compensation grants (restricted stock), not open-market purchases or sales.

Key Details

• Transaction date: 2026-07-21. Price reported: $10.00 per share for both grants.
• Grant totals: 500 shares ($5,000) + 1,368 shares ($13,680) = 1,868 shares ($18,680).
• Vesting: Shares are restricted and vest at 33 1/3% per year beginning May 26, 2027 (Footnote F2).
• Conversion adjustment: Share counts/prices reflect a 1.3978-to-1.00 exchange ratio from the company’s mutual-to-stock conversion (Footnote F1).
• Shares owned after the transaction are not disclosed in the filing.
• Filing timeliness: Report filed on 2026-07-21 (same date as the report period); no late filing indicated.
• Transaction code: A = Award/Grant. No exercise, sale, or tax-withholding sale was reported.

Context

• Restricted stock awards are compensation and vest over time; they are not an immediate market purchase and do not by themselves indicate a buy or sell signal. Retail investors should view this as executive compensation rather than a direct endorsement to buy shares.
• Footnotes indicate conversion adjustments and vesting schedule; other footnotes about options (F4, F5) or non-Section 16 transactions (F3) are present in the filing but are not directly relevant to these awarded restricted shares.