Orange County Bancorp (OBT) Director Jon Schiller Receives Award

What Happened

• Jon Schiller, a director of Orange County Bancorp, received a grant/award of derivative compensation on 2026-09-15. The filing lists the award as a derivative acquisition (not immediate shares) with a per-unit price of $38.78. The reported number of shares/accruals is shown as N/A, so a total dollar value was not provided in the Form 4.

Key Details

• Transaction date: 2026-09-15 (Form 4 filed 2026-09-16).
• Transaction type: Award/Grant (derivative interests — restricted stock units and phantom stock).
• Price reported: $38.78 per unit; number of units/shares: N/A (total value not reported).
• Shares owned after transaction: not specified in the filing.
• Footnotes: F1 — Includes restricted stock units that vest 100% on Feb 19, 2027 and are settled in common stock upon separation from service. F2 — Phantom stock units are economic equivalents of common shares and become payable upon the director’s separation from service.
• Timeliness: Filing appears timely (reported the day after the transaction); no late-filing flag is indicated.

Context

• These awards are derivative compensation (RSUs and phantom stock) that do not represent immediate market purchases or sales. RSUs vesting and phantom stock payable on separation mean settlement is deferred and may not reflect immediate insider buying or selling intent.