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

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

Securities Compliance Specialist

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.

Corporate Governance Analyst

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.

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
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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).

1. Name and Address of Reporting Person^*

Smith Edgar R. III

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
09/30/2025

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	09/30/2025		P		141,328(2)	A	$8.05	328,270	I	By: Smith & Tate Investments, LLC(1)
COMMON STOCK								2,852,467	D
COMMON STOCK								19,407	I	By: MACSMITH LLC(1)
COMMON STOCK								340,637	I	By: Smith & Hood Investment, LLC(1)
COMMON STOCK								340,344	I	By: Big 4 Investments, LLC(1)
COMMON STOCK								17,063	I	By: Smith-Hoover Holdings, L.L.C.(1)
COMMON STOCK								1,062,817	I	By Smith & Hood Holding Company, LLC(1)

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. The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein.

2. 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.

	/s/ Edgar R. Smith III	10/02/2025
	** 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.
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FAQ

What transactions did Edgar R. Smith III report for FGBI on 09/30/2025?

The Form 4 reports an acquisition of 141,328 common shares at $8.05 and a separate disposal of 2,852,467 shares, both recorded with transaction date 09/30/2025.

How many shares does Smith & Tate Investments, LLC beneficially own after the reported transaction?

The filing lists 328,270 shares as beneficially owned indirectly by Smith & Tate Investments, LLC following the reported transaction.

What is the origin of the 110,272 shares mentioned in the filing?

The 110,272 shares were issued pursuant to the First Amendment to the Promissory Note and the First Amendment to the Floating Rate Subordinated Note, filed as Exhibits on June 9, 2025.

When was the Form 4 signed by the reporting person?

The signature on the Form 4 is dated 10/02/2025.

Which affiliated entities are listed as holding shares indirectly?

The filing names Smith & Tate Investments, LLC, MACSMITH LLC, Smith & Hood Investment, LLC, Big 4 Investments, LLC, Smith-Hoover Holdings, L.L.C., and Smith & Hood Holding Company, LLC with specified share amounts.