Listner Michael 4

What Happened

• Michael Listner, SVP and Chief Risk Officer of Orange County Bancorp (OBT), was granted 2,827 restricted stock units (awarded/acquired at $0.00) on 2026-03-19. On the same date 832 shares were disposed (withheld) at $31.15 per share to cover taxes, generating proceeds of $25,917 (tax withholding, not a market sale).

Key Details

• Transaction dates: 2026-03-19 (award and tax withholding); Form 4 filed 2026-03-23.
• Award: 2,827 shares acquired (grant/award, code A) at $0.00 (restricted stock units).
• Withholding: 832 shares disposed (code F) at $31.15 for tax/payment obligations = $25,917.
• Shares owned after the transaction: not disclosed in this filing.
• Footnotes: the filing shows RSU vesting schedules — vest at 1/3 per year commencing 3/21/2025 (F1), 3/20/2026 (F2), and 3/19/2027 (F3).
• Timeliness: Filing dated 2026-03-23 for transactions on 2026-03-19 (appears later than the typical 2-business-day Form 4 deadline).

Context

• The primary event is an RSU grant (an acquisition of restricted stock units). The 832-share disposal is a routine tax-withholding action (code F) to satisfy tax liability on the award, not an open-market sale expressing sentiment. Restricted units vest over future dates per the footnotes.