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Orange County Bancorp's 8-K Report: Major Stock Split Announcement

$OBT
Form 8-K
Filed on: 2024-12-26
Source
Orange County Bancorp's 8-K Report: Major Stock Split Announcement

Key Information from the SEC 8-K Filing of Orange County Bancorp, Inc. (Date: December 26, 2024)

  1. Event Type:
  • The document is a Form 8-K, which is a current report used to announce major corporate events.
  1. Company Overview:
  • Name: Orange County Bancorp, Inc.
  • Incorporation State: Delaware
  • Commission File Number: 001-40711
  • IRS Employer Identification Number: 26-1135778
  • Address: 212 Dolson Avenue, Middletown, New York 10940
  • Telephone Number: (845) 341-5000
  1. Stock Split Announcement:
  • On December 26, 2024, the company announced a two-for-one forward stock split of its issued common stock.
  • The stock split will be executed via an amendment to the company's Certificate of Incorporation.
  • Record Date: Shareholders as of the close of market on January 9, 2025, will receive one additional share for each share held.
  • Distribution Date: Additional shares will be distributed after the close of market on January 10, 2025.
  • Trading Commencement: Split-adjusted trading is expected to begin on January 13, 2025.
  1. Stock Information:
  • Class of Stock: Common Stock, par value $0.50
  • Trading Symbol: OBT
  • Exchange: The NASDAQ Stock Market LLC
  1. Emerging Growth Company Status:
  • The company has indicated that it qualifies as an emerging growth company under the relevant SEC rules.
  1. Financial Statements and Exhibits:
  • There are no financial statements of businesses acquired.
  • There is no pro forma financial information.
  • There are no shell company transactions.
  • A press release dated December 26, 2024, regarding the stock split is attached as Exhibit 99.1.
  1. Signatory:
  • The report was signed by Michael Lesler, Executive Vice President and Chief Financial Officer of Orange County Bancorp, Inc.

Insights:

  • The announcement of a stock split can indicate the company's confidence in its future performance and is often used to make shares more affordable for a wider range of investors.
  • The plan to adjust trading on January 13, 2025, suggests a strategic timing in the market that could affect liquidity and market perception.
  • As an emerging growth company, Orange County Bancorp may benefit from regulatory advantages that could enhance its growth potential.