Origin Bancorp (OBK) legal chief converts RSUs, withholds stock for taxes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Origin Bancorp Chief Legal Counsel Derek McGee reported equity compensation activity involving restricted stock units that converted into common stock on a one-for-one basis. On February 17 and 18, 2026, restricted stock units were exercised into common shares, and portions of the resulting stock (372 and 765 common shares at $43.98 and $43.73 per share) were withheld to cover tax obligations. The filing notes these tax-withholding transactions do not represent open‑market sales. McGee also reports direct and indirect holdings, including shares held through an issuer retirement plan and an IRA.
Positive
- None.
Negative
- None.
Insider Trade Summary
3,232 shares exercised/converted
Mixed
8 txns
Insider
McGee Derek
Role
Chief Legal Counsel
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 2,233 | $0.00 | -- |
| Exercise | Common Stock | 2,233 | $0.00 | -- |
| Tax Withholding | Common Stock | 765 | $43.73 | $33K |
| Exercise | Restricted Stock Units | 999 | $0.00 | -- |
| Exercise | Common Stock | 999 | $0.00 | -- |
| Tax Withholding | Common Stock | 372 | $43.98 | $16K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 2,236 shares (Direct);
Common Stock — 19,200 shares (Direct);
Common Stock — 661 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. Granted on February 18, 2022, vesting ratably over five years with the first vest date of February 18, 2023.
FAQ
What insider transactions did OBK’s Derek McGee report on this Form 4?
Derek McGee reported exercises of restricted stock units into Origin Bancorp common stock on February 17 and 18, 2026. Related common shares were withheld to satisfy tax obligations, and the filing updates his direct and indirect ownership positions, including retirement plan and IRA holdings.
What do the restricted stock unit conversions mean for OBK’s Derek McGee?
Restricted stock units converted into common stock on a one‑for‑one basis, increasing McGee’s share ownership. These units were originally granted in February 2022 and February 2023 with multi‑year vesting schedules, and the conversions reflect vesting of those prior equity awards.
When were Derek McGee’s Origin Bancorp restricted stock units granted and how do they vest?
One award was granted on February 18, 2022, vesting ratably over five years starting February 18, 2023. Another was granted on February 17, 2023, vesting ratably over three years starting February 17, 2024, with vested units converting into common stock one‑for‑one.
What indirect Origin Bancorp holdings does Derek McGee report in this Form 4?
McGee reports indirect ownership of Origin Bancorp common stock through two vehicles. One position is held via an issuer retirement plan, and another through an IRA. The Form 4 lists these as indirect holdings separate from his directly owned common stock.