Origin Bancorp (OBK) CFO settles RSUs and withholds shares for taxes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Origin Bancorp, Inc. Chief Financial Officer William J. Wallace IV reported equity compensation activity involving restricted stock units and common shares. On February 17, he exercised 799 restricted stock units, which convert into common stock on a one-for-one basis, acquiring 799 shares of common stock at no cash exercise price. To cover income tax withholding tied to this net settlement, 262 common shares were withheld by the issuer at $43.98 per share, and this withholding is explicitly described as not representing a sale. After these transactions, he directly owned 15,349 common shares and indirectly held 2,994 common shares through the issuer’s retirement plan.
Positive
- None.
Negative
- None.
Insider Trade Summary
799 shares exercised/converted
Mixed
4 txns
Insider
Wallace Willliam J IV
Role
Chief Financial Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 799 | $0.00 | -- |
| Exercise | Common Stock | 799 | $0.00 | -- |
| Tax Withholding | Common Stock | 262 | $43.98 | $12K |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 0 shares (Direct);
Common Stock — 15,611 shares (Direct);
Common Stock — 2,994 shares (Indirect, BY ISSUER RETIREMENT PLAN)
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 February 17, 2023, vesting ratably over three years with the first vest date of February 17, 2024.
FAQ
What did Origin Bancorp (OBK) CFO report on this Form 4?
The CFO of Origin Bancorp reported exercising 799 restricted stock units into common stock and a related tax-withholding share disposition, leaving him with 15,349 directly held shares and 2,994 shares held indirectly through the issuer’s retirement plan.
How many Origin Bancorp (OBK) restricted stock units were converted?
The Form 4 shows that 799 restricted stock units were converted into 799 shares of Origin Bancorp common stock on February 17. The units convert on a one-for-one basis, reflecting equity compensation vesting rather than an open-market stock purchase.
When were the Origin Bancorp (OBK) restricted stock units granted and how do they vest?
The restricted stock units were granted on February 17, 2023, and vest ratably over three years, with the first vesting date on February 17, 2024. This schedule means portions of the award convert into common stock annually over the three-year period.