Director Gary Luffey receives 1,162-share stock grant at Origin Bancorp (OBK)
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Luffey Gary E. reported acquisition or exercise transactions in this Form 4 filing.
Origin Bancorp director Gary E. Luffey received a grant of 1,162 shares of Common Stock as compensation for his service as a director. The restricted stock was valued at $47.35 per share on the grant date and increases his direct holdings to 161,780 shares.
According to the footnote, these restricted shares will vest on the date of the next annual meeting of stockholders following the grant date, unless that meeting occurs less than 50 weeks after the grant date, in which case the shares will vest on April 28, 2027.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Luffey Gary E.
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 1,162 | $47.35 | $55K |
Holdings After Transaction:
Common Stock — 161,780 shares (Direct, null)
Footnotes (1)
- [object Object]
Key Figures
Restricted stock grant: 1,162 shares
Grant price per share: $47.35 per share
Post-transaction holdings: 161,780 shares
+1 more
4 metrics
Restricted stock grant
1,162 shares
Common Stock granted as director compensation on April 28, 2026
Grant price per share
$47.35 per share
Implied value for the 1,162-share restricted stock grant
Post-transaction holdings
161,780 shares
Total Common Stock directly owned by Gary E. Luffey after the grant
Vesting backstop date
April 28, 2027
Vesting date if the next annual meeting occurs less than 50 weeks after grant
Key Terms
restricted stock, Grant, award, or other acquisition, annual meeting of stockholders, vest
4 terms
restricted stock financial
"Represents shares of restricted stock granted to reporting person by the issuer as compensation"
Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.
Grant, award, or other acquisition regulatory
"transaction_code_description": "Grant, award, or other acquisition""
annual meeting of stockholders regulatory
"will vest on the date of the next annual meeting of stockholders following the grant date"
vest financial
"The shares will vest on the date of the next annual meeting of stockholders"
A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.
FAQ
What insider transaction did Origin Bancorp (OBK) report for Gary E. Luffey?
Origin Bancorp reported that director Gary E. Luffey received a grant of 1,162 shares of restricted Common Stock as compensation. The grant is classified as a non-derivative “grant, award, or other acquisition” rather than an open-market purchase or sale, reflecting routine director compensation.
At what value was Gary E. Luffey’s restricted stock grant in Origin Bancorp (OBK) recorded?
The 1,162 restricted shares granted to Gary E. Luffey were recorded at $47.35 per share. This per-share value comes from the transaction price disclosed, providing an implied grant-date value for the award without involving any open-market buying or selling activity by the director.
Is Gary E. Luffey’s Origin Bancorp (OBK) stock grant an open-market purchase?
No. The filing classifies the transaction under code “A” as a grant, award, or other acquisition of restricted stock. The footnote explains it was granted by Origin Bancorp as compensation for serving as a director, not bought by Luffey in the open market.