FGBI Form 4: 141,328-Share Purchase and 2.85M-Share Disposal by Director
Rhea-AI Filing Summary
Edgar R. Smith III, a director of First Guaranty Bancshares, Inc. (FGBI), reported transactions dated 09/30/2025. The filing shows an acquisition of 141,328 shares of common stock at $8.05 per share. Following that reported purchase the filing lists 328,270 shares beneficially owned indirectly by Smith & Tate Investments, LLC. The form also records a disposal of 2,852,467 shares and multiple indirect holdings across entities including MACSMITH LLC, Smith & Hood Investment, LLC, and others with specified amounts. An explanatory note states 110,272 shares were issued under amendments to a promissory note and a subordinated note filed as exhibits on June 9, 2025. The form is signed on 10/02/2025.
Positive
- 141,328-share acquisition at $8.05 on 09/30/2025
- 110,272 shares issued under documented note amendments filed as Exhibits on June 9, 2025
- Clear disclosure of indirect holdings by Smith & Tate Investments, LLC and other affiliated entities
Negative
- Reported disposal of 2,852,467 shares (listed as D)
- Concentrated indirect ownership across multiple affiliated LLCs may complicate clear individual beneficial ownership
Insights
TL;DR: Director Edgar R. Smith III reported a 141,328-share purchase at $8.05 on 09/30/2025 and a separate 2,852,467-share disposal.
The Form 4 clearly discloses both an acquisition and a large disposal, plus multiple indirect holdings through affiliated LLCs. These entries are typical Section 16 reporting items and the filing includes an explicit disclaimer of beneficial ownership except for pecuniary interest.
This filing also documents the issuance of 110,272 shares tied to the June 4, 2025 note amendments previously filed as Exhibits, which explains part of the change in holdings without additional inference.
TL;DR: Multiple indirect ownership entries indicate concentrated family/affiliate holdings across several LLCs.
The Form lists indirect holdings with specific amounts for entities including Smith & Tate Investments, LLC, MACSMITH LLC, and Smith & Hood Investment, LLC. Those figures show how beneficial ownership is structured via affiliated vehicles.
The filing’s explanatory note connects 110,272 issued shares to formal amendments filed as Exhibits on June 9, 2025, providing a documented source for part of the increase in shares owned.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | COMMON STOCK | 141,328 | $8.05 | $1.14M |
| holding | COMMON STOCK | -- | -- | -- |
| holding | COMMON STOCK | -- | -- | -- |
| holding | COMMON STOCK | -- | -- | -- |
| holding | COMMON STOCK | -- | -- | -- |
| holding | COMMON STOCK | -- | -- | -- |
| holding | COMMON STOCK | -- | -- | -- |
Footnotes (1)
- The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein. Includes 110,272 shares of common stock issued to the reporting person pursuant to the terms of the First Amendment to the Promissory Note, dated as of June 4, 2025, by and between First Guaranty Bancshares, Inc. and Smith & Tate Investment, L.L.C. (the "Promissory Note Amendment") and the First Amendment to the First Guaranty Bancshares, Inc. Floating Rate Subordinated Note due March 28, 2034, dated as of June 4, 2025, by and between First Guaranty Bancshares, Inc. and Smith & Tate Investment, L.L.C. (the "Subordinated Note Amendment"). The Promissory Note Amendment and the Subordinated Note Amendment were filed as Exhibit 10.1 and Exhibit 10.2 to the Form 8-K filed by First Guaranty Bancshares, Inc. with the SEC on June 9, 2025.
