First Guaranty director buys 4,000 depository shares

First Guaranty Bancshares, Inc. (FGBI) director Robert W. Walker purchased 4,000 depository shares on September 15, 2026 in an open-market or private transaction at a price of $17.74 per depository share, and now holds 11,702 depository shares directly.

Rhea-AI Filing Summary

First Guaranty Bancshares, Inc. (FGBI) director Robert W. Walker purchased 4,000 depository shares on September 15, 2026 in an open-market or private transaction at a price of $17.74 per depository share, and now holds 11,702 depository shares directly.

Each depository share represents a 1/40th interest in a share of the issuer's 6.75% Series A Fixed-Rate Non-Cumulative Perpetual Preferred Stock, with a $1,000 par value and $1,000 liquidation preference per preferred share, equivalent to $25.00 per depository share. No Rule 10b5-1 trading plan is reported for this transaction.

Insider Trade Summary

Net Buyer: 4,000 shares

Net Buy 1 txn

Insider WALKER ROBERT W

Role Director

Bought 4,000 shs ($71K)

Type	Security	Shares	Price	Value
Purchase	DEPOSITORY SHARES F1	4,000	$17.74	$71K

Holdings After Transaction: DEPOSITORY SHARES — 11,702 shares (Direct)

Footnotes (1)

1. F1. Each depository share represents a 1/40th interest in a share of the issuer's 6.75% Series A Fixed-Rate Non-Cumulative Perpetual Preferred Stock, par value $1,000 per share, with a liquidation preference of $1,000 per share (equivalent to $25.00 per Depository Share).

Key Figures

Depository shares purchased: 4,000 depository shares Purchase price per depository share: $17.74 per depository share Depository shares held after transaction: 11,702 depository shares +5 more

8 metrics

Depository shares purchased 4,000 depository shares Open-market or private purchase on September 15, 2026

Purchase price per depository share $17.74 per depository share Price paid in the September 15, 2026 transaction

Depository shares held after transaction 11,702 depository shares Director’s direct holdings following the reported purchase

Interest rate on Series A Preferred 6.75% Fixed rate on Series A Fixed-Rate Non-Cumulative Perpetual Preferred Stock

Par value per preferred share $1,000 per preferred share Par value of the 6.75% Series A Preferred Stock

Liquidation preference per preferred share $1,000 per preferred share Liquidation preference of the 6.75% Series A Preferred Stock

Liquidation preference per depository share $25.00 per depository share Equivalence based on 1/40th interest in a $1,000 preferred share

Depository share to preferred share ratio 1/40th of a preferred share per depository share Structure of the Depository Shares for the Series A Preferred Stock

Key Terms

Depository Shares, Liquidation preference, Non-Cumulative Perpetual Preferred Stock, par value

4 terms

Depository Shares financial

"Each depository share represents a 1/40th interest in a share"

Liquidation preference financial

"with a liquidation preference of $1,000 per share"

A liquidation preference is a rule that determines who gets paid first and how much they receive when a company is sold, goes bankrupt, or distributes its assets. It gives certain investors a priority claim—often returning their original investment plus any agreed multiple—before other owners receive money, which shapes how much common shareholders and founders ultimately get; think of it as a front-of-the-line pass that affects payout order and investor returns.

Non-Cumulative Perpetual Preferred Stock financial

"6.75% Series A Fixed-Rate Non-Cumulative Perpetual Preferred Stock"

Non-cumulative perpetual preferred stock is a type of investment that pays a fixed dividend forever, without a set end date. If the company skips some dividends in a year, you don’t get that money later, and it’s gone forever. It matters because investors get regular income but may miss out if the company faces financial trouble.

par value financial

"par value $1,000 per share, with a liquidation preference"

Par value is the fixed amount printed on a bond or stock that represents its original value when issued. It’s like the face value of a coin or bill—what the issuer promises to pay back or the starting price of a stock—though it often doesn’t change with market prices. It matters because it helps determine certain financial details, like how much the company will pay back at maturity.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did FGBI report in this Form 4?

The company reported that director Robert W. Walker purchased 4,000 depository shares of First Guaranty Bancshares, Inc. on September 15, 2026 in an open-market or private transaction at $17.74 per depository share.

How many FGBI depository shares does the director hold after this purchase?

After the reported purchase, director Robert W. Walker directly holds 11,702 depository shares of First Guaranty Bancshares, Inc., as stated in the Form 4 following the September 15, 2026 transaction.

What does each FGBI depository share represent?

Each depository share represents a 1/40th interest in a share of the issuer's 6.75% Series A Fixed-Rate Non-Cumulative Perpetual Preferred Stock, with a par value of $1,000 per preferred share and a $1,000 liquidation preference per preferred share.

What is the economic equivalence per FGBI depository share?

The filing states that the liquidation preference of the 6.75% Series A Preferred Stock is $1,000 per preferred share, which is equivalent to $25.00 per depository share, based on each depository share representing 1/40th of a preferred share.

Was the FGBI insider trade made under a Rule 10b5-1 trading plan?

No. The Form 4 indicates that the Rule 10b5-1 checkbox is not affirmed, and no footnote describes a trading plan, so no Rule 10b5-1 trading plan is reported for this transaction.

What type of security did the FGBI director buy?

The director bought Depository Shares, each representing a 1/40th interest in the issuer's 6.75% Series A Fixed-Rate Non-Cumulative Perpetual Preferred Stock, with a par value and liquidation preference of $1,000 per preferred share.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/17/2026 - 04:16 PM Accepted by SEC EDGAR 09/17/2026 - 04:15 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

WALKER ROBERT W

(Last) (First) (Middle)

400 EAST THOMAS STREET

(Street)

HAMMOND LOUISIANA 70401

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
First Guaranty Bancshares, Inc. [ FGBI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/15/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
DEPOSITORY SHARES(1)	09/15/2026		P		4,000	A	$17.74	11,702	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Each depository share represents a 1/40th interest in a share of the issuer's 6.75% Series A Fixed-Rate Non-Cumulative Perpetual Preferred Stock, par value $1,000 per share, with a liquidation preference of $1,000 per share (equivalent to $25.00 per Depository Share).

	/s/ Robert W. Walker	09/17/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)