Orange County Bancorp (OBT) CFO Michael Lesler Receives Award

What Happened Michael Lesler, Chief Financial Officer of Orange County Bancorp (OBT), received a grant/award of a derivative equity interest (reported as N/A shares) on September 15, 2026. The Form 4 lists a per-share valuation of $38.78 but does not disclose a specific share count or total dollar amount; the entry is reported as a derivative award (restricted stock units/phantom stock), not an open-market purchase or sale.

Key Details

• Transaction type: Grant / Award (code A) — derivative (RSU/phantom stock).
• Transaction date: 2026-09-15; Form 4 filed: 2026-09-16 (appears timely).
• Reported price/valuation: $38.78 per share; shares acquired: listed as N/A in the filing.
• Shares owned after transaction: Not specified in the reported transaction (N/A).
• Footnotes of note:
  • F1–F3: Restricted stock units vest at 1/3 per year starting 3/21/2025, 3/20/2026 and 3/19/2027, respectively.
  • F5: Phantom stock interests under the Performance-Based SERP may be settled in company shares upon distribution, based on the recipient’s prior election.
  • F4: Indicates certain transactions not required to be reported under Section 16.
• Filing timeliness: Filed the day after the transaction; no late filing flag in the provided data.

Context This filing documents a grant of time- or performance-based equity (RSUs or phantom stock), which does not immediately transfer tradable shares. Such awards are common for compensation and retention; they do not by themselves indicate a buy or sell signal. If/when phantom interests or RSUs vest and are settled in shares, that could lead to future insider holdings or share issuance. The filing provides limited detail on award size because no share count or total value was disclosed.