Form 4: Origin Bancorp Director Lori Sirman Reports Stock Transactions
SEC Form 4
Director Lori Sirman reports acquisition of shares through restricted stock unit vesting and withholding of shares for tax obligations.
Summary
- On August 19, 2024, Lori Sirman, a director of Origin Bancorp, Inc. (OBK), reported transactions involving the company's common stock.
- Sirman acquired 2,226 shares of common stock through the vesting of restricted stock units.
- 495 shares were withheld by the issuer to satisfy income tax obligations related to the settlement of the restricted stock units.
- Following these transactions, Sirman directly owns 83,393 shares of Origin Bancorp common stock.
- Sirman also indirectly owns 24,620 shares through the Issuer Retirement Plan and 8,829 shares through an IRA.
- The report also details Sirman's holdings of various stock options with exercise prices ranging from $19.64 to $37.76 and expiration dates from 2024 to 2031.
Sentiment
Score: 6
Explanation: The document is a routine disclosure of stock transactions by a company director, with no significant positive or negative implications.
Positives
- The vesting of restricted stock units indicates that Sirman is meeting the conditions of her equity compensation plan.
- Continued stock ownership by a director aligns her interests with those of other shareholders.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders.
Stakeholder Impact
- The transactions have a minimal impact on stakeholders as they represent a small percentage of the company's outstanding shares.
Key Dates
| Date | Description |
|---|---|
| August 1, 2022 | Effective time of the Merger, each outstanding and unexercised option to purchase shares of BTH common stock became fully vested and automatically converted into an option to purchase shares of issuer common stock. |
| February 17, 2023 | Date of grant for 2,226 restricted stock units vesting on August 19, 2023, August 19, 2024, and August 19, 2025. |
| February 17, 2023 | Date of grant for restricted stock units vesting ratably over three years with the first vest date of February 17, 2024. |
| May 20, 2024 | Date of grant for restricted stock units vesting ratably over three years with the first vest date of May 20, 2025. |
| August 19, 2024 | Date of transaction: Acquisition of 2,226 shares through vesting of restricted stock units and withholding of 495 shares for tax obligations. |
| August 20, 2024 | Date of signature for the Form 4 filing. |
| December 15, 2024 | Stock Options (Right to Buy) $ 19.64 (7) 12/15/2024 Common Stock 2,751 |
| December 21, 2025 | Stock Options (Right to Buy) $ 19.64 (7) 12/21/2025 Common Stock 5,674 |
| June 20, 2026 | Stock Options (Right to Buy) $ 22.28 (7) 06/20/2026 Common Stock 6,621 |
| December 19, 2026 | Stock Options (Right to Buy) $ 23.64 (7) 12/19/2026 Common Stock 4,568 |
| December 18, 2027 | Stock Options (Right to Buy) $ 31.72 (7) 12/18/2027 Common Stock 18,538 |
| December 18, 2028 | Stock Options (Right to Buy) $ 37.01 (7) 12/18/2028 Common Stock 16,552 |
| December 16, 2029 | Stock Options (Right to Buy) $ 37.76 (7) 12/16/2029 Common Stock 23,173 |
| February 16, 2031 | Stock Options (Right to Buy) $ 33.23 (7) 02/16/2031 Common Stock 23,173 |
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