Lesler Michael 4
4 · Orange County Bancorp, Inc. /DE/ · Filed Mar 23, 2026
Research Summary
AI-generated summary of this filing
Orange County Bancorp CFO Michael Lesler Receives RSUs, Withholds 1,177 Shares
What Happened
Michael Lesler, Chief Financial Officer of Orange County Bancorp, was granted 5,059 restricted stock units (RSUs) on March 19, 2026 (reported as an award, code A). On the same date 1,177 shares were disposed of to cover taxes or exercise price withholding (code F) at $31.15 per share, reported value $36,664. The award shows a $0.00 acquisition price typical for RSUs.
Key Details
- Transaction date: March 19, 2026; Form 4 filed March 23, 2026 (timely filing).
- Grant: 5,059 RSUs (acquired at $0.00).
- Withholding/disposition: 1,177 shares disposed @ $31.15, reported value $36,664 (tax withholding/payment).
- Shares owned after transaction: not specified in the provided filing.
- Footnotes: filing notes RSU vesting schedules (vest 1/3 per year starting on various March dates) and references to Performance‑Based SERP phantom stock that may be settled in shares upon distribution.
- Transaction codes explained: A = award/grant; F = payment of exercise price or tax liability (share withholding).
Context
This transaction is primarily an equity award (RSUs) with a contemporaneous share withholding to satisfy tax obligations — a routine administrative outcome rather than an open‑market sale or deliberate cashing‑out signal. RSUs vest over time (as noted in the footnotes), so the 5,059 shares are subject to future vesting schedules and not all immediately liquid.
Insider Transaction Report
- Award
Common Stock
[F3][F1][F2]2026-03-19+5,059→ 17,393 total - Tax Payment
Common Stock
[F1][F2]2026-03-19$31.15/sh−1,177$36,664→ 16,216 total
- 1,623(indirect: By 401(k))
Common Stock
[F4] - 2,000(indirect: By IRA)
Common Stock
- 2,519
Phantom Stock
[F5]→ Common Stock (2,519 underlying)
Footnotes (5)
- [F1]Includes restricted stock units which vest at a rate of 1/3 per year commencing on March 21, 2025.
- [F2]Includes restricted stock units which vest at a rate of 1/3 per year commencing on March 20, 2026.
- [F3]Restricted stock units which vest at a rate of 1/3 per year commencing on March 19, 2027.
- [F4]Reflects transactions not required to be reported pursuant to Section 16 of the Securities Exchange Act of 1934, as amended.
- [F5]Represents deemed investments in connection with the Performance-Based SERP. Phantom stock interests under the Performance-Based SERP may be settled in shares of Company stock upon distribution to the reporting person, based on their prior election.