---
schema_version: "secwatch.filing_event.v1"
accession: "0000943374-24-000089"
form_type: "8-K"
ticker: "OBT"
cik: "0001754226"
company_name: "Orange County Bancorp, Inc. /DE/"
filed_at: "2024-02-27T23:59:59+00:00"
generated_at: "2026-06-05T12:23:35.520455+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# Orange County Bancorp grants CFO Lesler and Deputy CLO Sousa 2x CIC severance and SERP benefits

## Summary
- CFO Michael Lesler and Deputy CLO Gregory Sousa entered CIC Plan with 2x severance multiplier on Feb 21, 2024.
- Lesler also joined SERP with annual performance contribution of 10% of base salary subject to financial goals.
- CIC Plan provides lump sum cash: pro-rata bonus, severance multiple × base salary, plus 18 months COBRA cost.
- SERP vests at age 62 with 10 years service, within 12 months of change in control, or death.
- Severance benefits under CIC Plan may be reduced to avoid excise tax under Code Sections 280G/4999.

## SEC filing metadata
- accession: 0000943374-24-000089
- form_type: 8-K
- ticker: OBT
- cik: 0001754226
- company_name: Orange County Bancorp, Inc. /DE/
- filed_at: 2024-02-27T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1754226/000094337424000089/0000943374-24-000089-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1754226/000094337424000089/form8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000943374-24-000089
- JSON: https://secwatch.observer/filing/0000943374-24-000089.json
- Plain text: https://secwatch.observer/filing/0000943374-24-000089.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.