[Form 4] First Guaranty Bancshares, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Eric Dosch, SVP and CFO of First Guaranty Bancshares, Inc. (FGBI / FGBIP), filed a Form 4 reporting multiple purchases of the issuer's common stock and depository shares between 09/04/2025 and 09/08/2025. Transactions show purchases executed at prices ranging from $8.50 to $8.74 per common share and $19.03 to $19.25 per depository share. Several acquisitions were reported as indirect holdings: shares held for his son and daughter as minors (EJD as custodian), in an IRA and Roth IRA, and in a trust; spouse holdings are also listed. The form also reports a disposition of 28,396 common shares. The form is signed by Eric Dosch on 09/22/2025.

Positive

• Insider purchases reported: Multiple acquisitions of common stock and depository shares were made between 09/04/2025 and 09/08/2025 at prices from $8.50 to $19.25.
• Transactions disclosed as indirect holdings: Several purchases were held for minors (EJD as custodian), an IRA, Roth IRA, and a trust, showing transparent reporting of beneficial ownership channels.
• Form properly executed: The Form 4 is signed by Eric Dosch on 09/22/2025.

Negative

• Large reported disposal: The filing shows a disposal of 28,396 common shares, a sizeable sale reported without explanatory detail in the form.
• No 10b5-1 plan indicated: The form does not check the 10b5-1 plan box, and no written plan is described, so purchase timing context is limited.

Insights

Financial Analyst

TL;DR: Multiple small insider purchases plus a large reported disposition indicate mixed insider activity without additional context on materiality.

The filing documents numerous small acquisitions of common stock and depository shares by or for the reporting person across 09/04/2025–09/08/2025 at prices between $8.50 and $19.25 per instrument. Many purchases are reported as indirect holdings for minors, an IRA/Roth IRA, and a trust, which may reflect estate or compensation-related transfers rather than open-market signal trades. The filing also shows a disposition of 28,396 common shares, which is a quantitatively larger move recorded as a disposal. Without context on pre-transaction aggregate holdings, insider selling rationale, or overall share counts, the net impact on valuation cannot be determined from this Form 4 alone.

Corporate Governance Expert

TL;DR: Transactions include custodial and retirement-account movements alongside a substantial reported sale, raising governance disclosure interest.

The Form 4 clearly identifies the reporting person as SVP and CFO and discloses transactions reported as indirect beneficial ownership for family members and retirement accounts, consistent with custodial/estate arrangements. The large reported disposal of 28,396 common shares merits attention from governance and compliance perspectives to confirm it aligns with company policies and any 10b5-1 plans, though the form does not state a 10b5-1 plan checkbox. The filing is properly signed and dated, satisfying procedural requirements.

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^*

Dosch Eric

(Last) (First) (Middle)

400 EAST THOMAS STREET

(Street)

HAMMOND LA 70401

(City) (State) (Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/04/2025

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

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

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

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
COMMON STOCK	09/04/2025		L	V	44	A	$8.5	226	I	By son, minor EJD as custodian
COMMON STOCK	09/05/2025		L	V	56	A	$8.68	282	I	By son, minor EJD as custodian
COMMON STOCK	09/08/2025		L	V	100	A	$8.74	382	I	By son, minor EJD as custodian
DEPOSITORY SHARES(1)	09/05/2025		L	V	50	A	$19.03	50	I	By son, minor EJD as custodian
DEPOSITORY SHARES(1)	09/08/2025		L	V	50	A	$19.25	100	I	By son, minor EJD as custodian
COMMON STOCK	09/05/2025		L	V	100	A	$8.67	282	I	By daughter, minor EJD as custodian
COMMON STOCK	09/08/2025		L	V	100	A	$8.74	382	I	By daughter, minor EJD as custodian
DEPOSITORY SHARES(1)	09/05/2025		L	V	50	A	$19.03	50	I	By daughter, minor EJD as custodian
DEPOSITORY SHARES(1)	09/05/2025		L	V	50	A	$19.25	100	I	By daughter, minor EJD as custodian
COMMON STOCK	09/04/2025		L	V	100	A	$8.5	732	I	By IRA(3)
DEPOSITORY SHARES(1)	09/05/2025		L	V	50	A	$19.03	50	I	By IRA(3)
DEPOSITORY SHARES(1)	09/08/2025		L	V	50	A	$19.25	50	I	By Roth IRA
COMMON STOCK								28,396	D
COMMON STOCK								147	I	By Spouse
COMMON STOCK								732	I	By trust(2)

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).

2. Represents the holdings of Lowell John Dosch Revocable Living Trust UA DTD 02/28/2000, of which the reporting person is a trustee. The reporting person disclaims beneficial ownership of registrant common stock held by Lowell John Dosch Revocable Living Trust UA DTD 02/28/2000 except to the extent of his pecuniary interest.

3. The shares of common stock currently held by the reporting person's IRA were previously held by the issuer's employee stock ownership plan.

	/s/ Eric Dosch	09/22/2025
	** 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.

FAQ

What insider transactions did Eric Dosch report for FGBIP on the Form 4?

The Form 4 reports multiple acquisitions of common stock and depository shares between 09/04/2025 and 09/08/2025 at prices from $8.50 to $19.25, and a disposal of 28,396 common shares.

Were the reported FGBIP purchases direct or indirect holdings?

Many purchases are reported as indirect holdings, listed as held for the reporting person’s son and daughter as minors (EJD as custodian), in an IRA and Roth IRA, and in a trust.

Does the Form 4 indicate the transactions were part of a 10b5-1 trading plan for FGBIP?

The form does not indicate that the transactions were made pursuant to a 10b5-1 plan; no plan checkbox or plan description is provided on the filing.

When was the Form 4 signed and filed for FGBIP insider activity?

The Form 4 is signed by Eric Dosch and dated 09/22/2025.

Are there trust or spouse holdings disclosed in the FGBIP Form 4?

Yes. The filing lists common stock held by a trust (Lowell John Dosch Revocable Living Trust) and 147 common shares reported as held by the reporting person’s spouse; the trust disclosure includes a disclaimer of beneficial ownership except for pecuniary interest.