Orange County Bancorp (OBT) CEO Michael J. Gilfeather Receives Award

What Happened Michael J. Gilfeather, President & CEO and a director of Orange County Bancorp (OBT), was granted an award of derivative securities on September 15, 2026. The Form 4 reports an acquisition-type transaction (code A) for derivative awards listed at $38.78 per share/unit; the filing does not specify the number of units granted. This was an award of restricted/phantom equity (compensation), not an open-market buy or sale.

Key Details

• Transaction date: 2026-09-15. Reported per‑unit value: $38.78. Transaction type: Grant/Award (derivative).
• Number of units/shares acquired: Not specified in this filing (reported as N/A).
• Shares owned after transaction: Not specified in the filing.
• Notable footnotes in the filing describe vesting schedules and the nature of the awards (see list below).
• No 10b5‑1 plan, tax‑withholding sale, or late‑filing flag is indicated in the information provided.

Footnotes included in the filing (summarized)

• F1: RSUs vesting 1/3 per year starting March 21, 2025.
• F2: RSUs vesting 1/3 per year starting March 20, 2026.
• F3: RSUs vesting on December 31, 2026.
• F4: RSUs vesting 1/3 per year starting March 19, 2027.
• F5: RSUs vesting on March 19, 2029.
• F6: Phantom stock — each unit equals the economic value of one share and is payable upon separation of service as a director.

Context This filing reports a compensation award (derivative securities such as restricted stock units or phantom stock) rather than an outright stock purchase or sale. Such awards typically vest over time (see footnotes) and do not represent immediate ownership of tradable shares until vesting or settlement. Awards are a common form of executive compensation and should not be interpreted on their own as a buy/sell signal.