Origin Bancorp CEO exercises 5,061 RSUs
Origin Bancorp, Inc. reported that Chairman, President and CEO Drake Mills had restricted stock units convert into common stock.
Rhea-AI Filing Summary
Origin Bancorp, Inc. reported that Chairman, President and CEO Drake Mills had restricted stock units convert into common stock. On May 20, 2026, 5,061 restricted stock units converted into the same number of common shares on a one-for-one basis.
To cover income tax withholding obligations from this net settlement, 2,068 common shares were withheld by the issuer at a reference price of $47.38 per share, which the disclosure states does not represent a sale. After these entries, Mills directly owned 170,693 common shares, with additional indirect holdings of 3,866 shares in an IRA and 58,391 shares through an issuer retirement plan.
Positive
- None.
Negative
- None.
Insider Trade Summary
5,061 shares exercised/converted
Exercise
5 txns
Insider
Mills Drake
Role
Chairman, President and CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 5,061 | $0.00 | $0.00 |
| Exercise | Common Stock | 5,061 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 2,068 | $47.38 | $98K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 5,061 contracts (Direct);
Common Stock — 170,693 shares (Direct);
Common Stock — 58,391 shares (Indirect, BY ISSUER RETIREMENT PLAN);
Common Stock — 3,866 shares (Indirect, By IRA)
Footnotes (3)
- F1. Restricted stock units convert into common stock on a one-for-one basis.
- F2. 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.
- F3. Granted on May 20, 2024, vesting ratably over three years with the first vest date of May 20, 2025.
Key Figures
RSUs converted: 5,061 shares
Shares withheld for taxes: 2,068 shares
Withholding reference price: $47.38 per share
+5 more
8 metrics
RSUs converted
5,061 shares
Restricted stock units converting into common stock on May 20, 2026
Shares withheld for taxes
2,068 shares
Common shares withheld to satisfy income tax obligations
Withholding reference price
$47.38 per share
Price used for tax-withholding share calculation
Direct holdings after transaction
172,761 shares
Common stock directly owned by Drake Mills after entries
IRA indirect holdings
3,866 shares
Common stock held indirectly via IRA
Retirement plan holdings
58,391 shares
Common stock held indirectly via issuer retirement plan
Derivative exercises
1 transaction, 5,061 shares
Exercise/conversion of restricted stock units into common shares
Tax-withholding disposition
1 transaction, 2,068 shares
Shares delivered to issuer for tax withholding, not a sale
Key Terms
Restricted Stock Units, net settlement, income tax withholding, IRA, +1 more
5 terms
Restricted Stock Units financial
"Restricted stock units convert into common stock on a one-for-one basis."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
net settlement financial
"in connection with the net settlement of the restricted stock units"
income tax withholding financial
"withheld by the issuer to satisfy its income tax withholding and remittance obligations"
IRA financial
"nature_of_ownership: By IRA"
An individual retirement account (IRA) is a savings account designed to help people put aside money for their retirement, often with tax advantages that encourage long-term savings. It matters to investors because it can grow over time, providing financial security later in life, and offers benefits that can reduce current taxes or allow investments to compound more effectively.
issuer retirement plan financial
"nature_of_ownership: BY ISSUER RETIREMENT PLAN"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did Origin Bancorp (OBK) report for Drake Mills?
Origin Bancorp reported that CEO Drake Mills had 5,061 restricted stock units convert into common stock. These units vested on May 20, 2026, reflecting routine equity compensation rather than an open-market purchase or sale, according to the Form 4 disclosure and accompanying footnotes.
Were any of Drake Mills’ Origin Bancorp transactions open-market sales or purchases?
No open-market sales or purchases are reported in this Form 4. The filing shows a restricted stock unit conversion and shares withheld for tax obligations, with footnotes clarifying that the 2,068 withheld shares represent tax remittance, not a discretionary market sale.
AI-generated analysis. How Rhea-AI works. Not financial advice.
