[Form 4] First Guaranty Bancshares, Inc. 6.75% Series A Fixed-Rate Non-Cumulative Perpetual Preferred Stock Insider Trading Activity

Rhea-AI Filing Summary

DocuSign, Inc. (DOCU) – Form 4 insider transaction

Chief Financial Officer Blake J. Grayson reported two open-market sales executed on 1 July 2025 under a pre-arranged Rule 10b5-1 plan. In aggregate, the executive sold 11,214 common shares at weighted-average prices of $77.28 and $77.70, generating proceeds of roughly $0.86 million. Post-transaction, Grayson’s direct ownership declined from an estimated 110,723 shares to 99,509 shares, a reduction of about 10 percent. No derivative securities were exercised or disposed of, and the filing contains no reference to additional transactions or material corporate events. The disclosure is routine but noteworthy for investors tracking insider sentiment and potential supply of shares.

Positive

• Sale executed under Rule 10b5-1, reducing risk of informational advantage and aligning with compliance best practices.

Negative

• CFO sold 11,214 shares (~10 % of his stake), which can be interpreted as a modest decline in insider confidence.

Insights

Financial Analyst

TL;DR: Sale is modest, plan-based, neutral signal.

The CFO’s divestiture represents roughly 10 % of his direct stake and occurs under a 10b5-1 plan, mitigating concerns about informational timing. Proceeds (~$0.86 M) and the remaining ownership (~$7.7 M at filing price) indicate continued alignment with shareholders. Because the transaction size is small relative to DocuSign’s 200 M+ share float, it is unlikely to affect supply/demand dynamics or valuation multiples. I view the impact on investment thesis as neutral; insider selling is common for liquidity and diversification and does not coincide with earnings or guidance changes.

Corporate Governance Specialist

TL;DR: Insider trims stake; mildly negative governance optic.

Although conducted through a compliant 10b5-1 program, the CFO’s 10 % share reduction can be perceived as a soft negative signal regarding future prospects. Investors often monitor C-suite sales more closely than rank-and-file trades. The residual holding remains substantial, tempering concerns, yet repeated sales in subsequent filings could elevate governance scrutiny. Overall materiality is low but sentiment impact skews slightly negative.

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^*

Hood William K

(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)
06/30/2025

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	06/30/2025		P		30,865	A	$8.1	129,325	I	By WK Hood Family, LLC(1)
COMMON STOCK								680,560	D
COMMON STOCK								340,637	I	By Smith & Hood Investments, LLC(1)
COMMON STOCK								78,508	I	By Hood Investments, LLC
COMMON STOCK								1,062,817	I	By Smith & Hood Holding Company, LLC(1)
COMMON STOCK								28,044	I	By WKH Management, Inc.
COMMON STOCK								202,196	I	By WKH Holdings, LLC

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.

	/s/ William K. Hood	07/02/2025
	** 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.
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

How many DocuSign (DOCU) shares did the CFO sell?

11,214 common shares were sold on 1 July 2025.

What was the average sale price reported in the Form 4?

Weighted-average prices were $77.28 and $77.70 per share.

How many shares does the CFO still own after the transaction?

He directly owns 99,509 shares following the reported sales.

Was the transaction part of a 10b5-1 trading plan?

Yes. The filing states the sales were made under a Rule 10b5-1 plan adopted earlier by the reporting person.

Does the filing mention any derivative security exercises?

No. No derivative securities were acquired or disposed of in this report.

What percentage of the CFO’s stake was sold?

Approximately 10 % of his direct holdings were sold.

Is the insider sale likely to impact DocuSign’s share price materially?

Given DocuSign’s large public float, the impact is expected to be minimal unless followed by additional large insider sales.