Form 4: Red River Bancshares Executive Sells Small Portion of Shares Under 10b5-1 Trading Plan
SEC Form 4 Filing
Bryon C. Salazar, Executive Vice President and Chief Banking Officer of Red River Bancshares, sold 22 shares of common stock as part of a pre-arranged trading plan.
Summary
- On March 7, 2024, Bryon C. Salazar, an executive at Red River Bancshares Inc., sold 22 shares of common stock at a price of $50.25 per share.
- The sale was executed under a Rule 10b5-1 trading plan adopted on November 3, 2023, for diversification purposes.
- Following the transaction, Salazar directly owns 42,303 shares and indirectly owns 4,926 shares through his spouse.
- The directly owned shares include 2,020 unvested restricted stock shares that vest in increments between April 1, 2024, and April 1, 2028.
- Salazar's spouse also holds 2,020 unvested restricted stock shares with the same vesting schedule.
Sentiment
Score: 6
Explanation: The sentiment is neutral as the transaction is a routine sale under a pre-arranged trading plan and doesn't necessarily indicate a positive or negative outlook for the company.
Industry Context
Executive stock sales are a common occurrence and are often related to personal financial planning rather than a reflection of the executive's view of the company's prospects.
Key Dates
| Date | Description |
|---|---|
| 2023-11-03 | Date of execution of the Rule 10b5-1 trading plan |
| 2024-03-07 | Date of the transaction (stock sale) |
| 2024-03-11 | Date of signature of the Form 4 filing |
| 2024-04-01 | First vesting date of restricted stock (160 shares) |
| 2024-07-01 | Second vesting date of restricted stock (480 shares) |
| 2025-04-01 | Third vesting date of restricted stock (160 shares) |
| 2025-07-01 | Fourth vesting date of restricted stock (360 shares) |
| 2026-04-01 | Fifth vesting date of restricted stock (160 shares) |
| 2026-07-01 | Sixth vesting date of restricted stock (240 shares) |
| 2027-04-01 | Seventh vesting date of restricted stock (160 shares) |
| 2027-07-01 | Eighth vesting date of restricted stock (140 shares) |
| 2028-04-01 | Ninth vesting date of restricted stock (160 shares) |
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