secwatch.observer — SEC 8-K summary
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Issuer:     Orange County Bancorp, Inc. /DE/ (OBT)
CIK:        0001754226
Form:       8-K
Filed at:   2024-06-21T23:59:59+00:00
Accession:  0000943374-24-000271
Event type: other_material
Sentiment:  negative
Materiality: 0.40
Item codes: 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Orange County Bancorp cuts director stock ownership requirement from $125K to $1K
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- Board amended Bylaws on June 20, 2024, reducing mandatory director stock ownership to $1,000 (fair market value).
- Previous amendments required $125,000 (2022) or compliance with Stock Ownership Guidelines (2023).
- New requirement mirrors National Bank Act; standalone Stock Ownership Guidelines remain in effect.
- Change effective immediately; applies to all directors.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1754226/000094337424000271/0000943374-24-000271-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1754226/000094337424000271/form8k_061724.htm
  HTML page:      https://secwatch.observer/filing/0000943374-24-000271

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