RRBI.NASDAQRed River Bancshares INC

Form 4: Red River Bancshares Executive Receives Stock Grant

Sentiment:

SEC Form 4 Filing

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Isabel V. Carriere, Executive Vice President, Chief Financial Officer, and Assistant Corporate Secretary of Red River Bancshares, received a grant of 1,000 shares of restricted stock on April 1, 2024.

Summary

  • Isabel V. Carriere, an executive at Red River Bancshares, received 1,000 shares of unvested restricted stock on April 1, 2024.
  • These shares will vest in equal installments over the next five years.
  • Ms. Carriere directly owns 42,759 shares of Red River Bancshares common stock, including unvested restricted stock.
  • 2,860 of these shares vest at various dates between July 1, 2024, and April 1, 2029.

Sentiment

Score: 6

Explanation: Neutral sentiment as it's a routine disclosure of executive compensation.

Positives

  • The stock grant aligns the executive's interests with those of the shareholders.
  • The vesting schedule encourages long-term commitment from the executive.

Risks

  • The unvested restricted stock is subject to forfeiture upon the occurrence of certain events specified in the restricted stock grant.

Industry Context

Stock grants are a common form of executive compensation in the banking industry, aligning management's interests with those of shareholders.

Comparison to Industry Standards

  • Stock grants are a typical component of executive compensation packages in the banking sector, similar to practices at institutions like Hancock Whitney Corporation and First Horizon Corporation.
  • The vesting schedule is fairly standard, with vesting occurring over several years to incentivize long-term performance, which aligns with industry norms.

Stakeholder Impact

  • The stock grant could have a slightly dilutive effect on existing shareholders.
  • The vesting schedule incentivizes the executive to focus on long-term value creation for shareholders.

Key Dates

DateDescription
04/01/2024Date of the transaction: Isabel V. Carriere received 1,000 shares of unvested restricted stock.
04/01/2024First vesting date of existing restricted stock: 360 shares vest.
07/01/2024Vesting date of existing restricted stock: 480 shares vest.
04/01/2025Vesting date of existing restricted stock: 360 shares vest.
07/01/2025Vesting date of existing restricted stock: 360 shares vest.
04/01/2026Vesting date of existing restricted stock: 360 shares vest.
07/01/2026Vesting date of existing restricted stock: 240 shares vest.
04/01/2027Vesting date of existing restricted stock: 360 shares vest.
07/01/2027Vesting date of existing restricted stock: 140 shares vest.
04/01/2028Vesting date of existing restricted stock: 360 shares vest.
04/01/2029Vesting date of existing restricted stock: 200 shares vest.
04/03/2024Date of the Form 4 filing.

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