Rhinebeck Bancorp (RBKB) Director Irwin Receives Award of 10,000 Shares

What Happened

• William C. Irwin, a director of Rhinebeck Bancorp, was granted/received 10,000 shares on July 21, 2026 at an acquisition price reported as $10.00 per share, totaling $100,000. This transaction is reported on a Form 4 as an award/acquisition (code A), not a sale.

Key Details

• Transaction date: 2026-07-21; price per share: $10.00; total value: $100,000.
• Shares acquired: 10,000 restricted shares (award/grant).
• Shares owned after transaction: not specified in the provided summary of the filing.
• Filing timeliness: Reported with the same report date (2026-07-21); no late filing indicated.
• Relevant footnotes from the filing:
  • F1: A 1.3978-to-1.00 stock exchange ratio was applied related to the company’s mutual-to-stock conversion.
  • F2: The restricted shares vest 33 1/3% per year beginning May 26, 2027.
  • F3: Exercise prices on options were adjusted for the 1.3978 exchange ratio (not directly applicable to this restricted-stock award).
  • F4: The company’s stock options are fully vested (per filing).

Context

• This was a grant/award of restricted stock (not an open-market purchase or a sale). Vesting schedule (F2) means the shares will vest over roughly three years starting May 26, 2027, so the award is subject to time-based forfeiture conditions until vested.
• No options were exercised or sold as part of this reported transaction. The award increases insider ownership if and when shares vest, but does not represent an immediate sale.