secwatch.observer — SEC 8-K summary
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Issuer:     Orange County Bancorp, Inc. /DE/ (OBT)
CIK:        0001754226
Form:       8-K
Filed at:   2025-02-26T23:59:59+00:00
Accession:  0000943374-25-000117
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Orange County Bancorp extends CEO Gilfeather's employment term to March 2028; amends SERP performance goals
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- CEO Michael Gilfeather's employment term extended to March 31, 2028; auto-renews to March 2029 unless notice given.
- SERP performance target for contributions raised from $1B to $2.5B in total assets.
- SERP amendment removes 2026 sunset on contributions, allowing ongoing performance-based contributions.
- Annual SERP performance-based contribution stays at $60,000, increasing to $260,000 for FY2023 onward.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1754226/000094337425000117/0000943374-25-000117-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1754226/000094337425000117/form8k_022025.htm
  HTML page:      https://secwatch.observer/filing/0000943374-25-000117

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer