Origin Bancorp (NASDAQ: OBK) CAO exercises RSUs, handles tax
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Origin Bancorp, Inc. Chief Accounting Officer Stephen H. Brolly exercised restricted stock units and settled related taxes in shares. On February 17, 699 restricted stock units converted into 699 shares of common stock at no cash cost, consistent with a one-for-one RSU conversion.
To cover income tax withholding on this vesting, 297 shares of common stock were withheld by the company, which is recorded as a disposition but not a market sale. After these transactions, Brolly directly owned 22,726 shares of common stock and indirectly held 7,426 shares through the issuer’s retirement plan.
Positive
- None.
Negative
- None.
Insider Trade Summary
699 shares exercised/converted
Mixed
4 txns
Insider
Brolly Stephen H
Role
Chief Accounting Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 699 | $0.00 | -- |
| Exercise | Common Stock | 699 | $0.00 | -- |
| Tax Withholding | Common Stock | 297 | $43.98 | $13K |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 0 shares (Direct);
Common Stock — 23,023 shares (Direct);
Common Stock — 7,426 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 insider transactions did OBK’s Chief Accounting Officer report?
Stephen H. Brolly exercised 699 restricted stock units into 699 Origin Bancorp common shares. To satisfy income tax withholding, 297 shares were withheld by the issuer, recorded as a disposition but explicitly noted as not representing a market sale.
What is the relationship between the restricted stock units and OBK common stock?
The restricted stock units convert into Origin Bancorp common stock on a one-for-one basis. In this filing, 699 RSUs converted into 699 common shares, reflecting the complete vesting and settlement of that RSU portion under the disclosed grant terms.
When were the reported Origin Bancorp restricted stock units originally granted and how do they vest?
The restricted stock units were granted on February 17, 2023. They vest ratably over three years, with the first vesting date on February 17, 2024, leading to periodic conversion of units into common stock as vesting milestones are reached.