Origin Bancorp (OBK) legal chief nets RSU shares, 391 withheld for taxes
Rhea-AI Filing Summary
Origin Bancorp, Inc. Chief Legal Counsel Derek McGee reported routine equity compensation activity involving restricted stock units and related tax withholding. On May 20, 2026, restricted stock units converted into 1,199 shares of common stock on a one-for-one basis, increasing his direct common share holdings to 20,301 shares before tax effects.
To satisfy income tax withholding obligations from the net settlement of these units, 391 common shares were withheld by the issuer at $47.38 per share, reducing his directly held common stock to 19,910 shares. The filing clarifies this withholding does not represent an open-market sale. McGee also reports indirect ownership of 1,467 common shares through an IRA and 707 common shares through the issuer retirement plan, along with 1,198 restricted stock units remaining outstanding.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 1,199 | $0.00 | -- |
| Exercise | Common Stock | 1,199 | $0.00 | -- |
| Tax Withholding | Common Stock | 391 | $47.38 | $19K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- Restricted stock units convert into common stock on a one-for-one basis. Represents the number of common stock that have been withheld by the issuer to satisfy its income tax withholding and remittance obligations in connection with the net settlement of the restricted stock units and does not represent a sale. Granted on May 20, 2024, vesting ratably over three years with the first vest date of May 20, 2025.
Key Figures
Key Terms
Restricted stock units financial
net settlement financial
income tax withholding financial
issuer retirement plan financial
FAQ
What did Origin Bancorp (OBK) Chief Legal Counsel Derek McGee report in this Form 4?
Derek McGee reported routine equity compensation activity, including restricted stock units converting into common stock and related tax withholding. The filing reflects standard vesting and net settlement, rather than discretionary open-market buying or selling of Origin Bancorp shares.
How many restricted stock units remain for Derek McGee at Origin Bancorp?
Following the conversion of some units into common shares, Derek McGee has 1,198 restricted stock units remaining outstanding. These units were originally granted on May 20, 2024, and vest ratably over three years beginning May 20, 2025.