Patzwahl Nancy Koskey 4

What Happened
Nancy Patzwahl (Director) reported a purchase of 25,000 shares of Rhinebeck Bancorp, Inc. (RBKB) on July 22, 2026. The transaction was recorded as an open market or private purchase at $11.94 per share, for a total value of $298,500. Purchases by directors are typically viewed as a direct investment in the company (as opposed to routine sales).

Key Details

• Transaction date: 2026-07-22 (reported on Form 4 filed 2026-07-23)
• Transaction type/code: Purchase (P) — open market or private purchase
• Price: $11.94 per share
• Shares acquired: 25,000
• Total value: $298,500
• Shares owned after transaction: Not disclosed in the Form 4 filing
• Footnote: Shares are described as restricted and will vest at 33 1/3% per year beginning May 26, 2027.
• Filing timeliness: Filed the next day (appears timely under typical Form 4 rules)

Context
This is a straight equity purchase by a company director rather than an option exercise or award. The vesting note indicates the acquired shares are restricted and will vest over roughly three years starting May 26, 2027, which limits immediate liquidity. Purchases by insiders can be informative for investors but do not on their own prove future performance.