Form 4: Red River Bancshares Executive Vice President Tammi R. Salazar Reports Stock Grants
SEC Form 4 Filing
Tammi R. Salazar, Executive Vice President and Chief Operating Officer of Red River Bancshares, reports the acquisition of restricted stock grants.
Summary
- On April 1, 2025, Tammi R. Salazar, Executive Vice President and Chief Operating Officer of Red River Bancshares, acquired 1,000 shares of unvested restricted stock directly and another 1,000 shares indirectly through her spouse.
- These shares will vest in equal installments over the next five years.
- Salazar directly owns 41,925 shares, including unvested restricted stock that vests over time.
- Her spouse indirectly owns 4,600 shares, also including unvested restricted stock vesting over time.
Sentiment
Score: 7
Explanation: The document reflects a standard executive compensation practice, which is generally viewed neutrally to positively as it aligns management and shareholder interests. The sentiment is slightly positive due to the incentive effect of the stock grant.
Positives
- The grant of restricted stock aligns the executive's interests with those of the shareholders.
Risks
- The unvested restricted stock is subject to forfeiture upon the occurrence of certain events specified in the restricted stock grant.
Future Outlook
The document does not contain any specific forward-looking statements beyond the vesting schedule of the restricted stock.
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
- Executive compensation packages, including stock grants, are typical in the banking industry to incentivize performance and retain key personnel.
- Comparable companies often use similar vesting schedules to ensure long-term commitment from executives.
- The size of the grant should be compared to industry benchmarks for similar roles and company size to assess its competitiveness.
Stakeholder Impact
- The stock grant aligns the executive's interests with those of shareholders, potentially leading to decisions that benefit shareholders.
- The executive is incentivized to improve the company's performance to increase the value of the stock.
Key Dates
| Date | Description |
|---|---|
| 04/01/2025 | Date of transaction: Grant of restricted stock to Tammi R. Salazar and her spouse. |
| 04/02/2025 | Date of Form 4 filing. |
| 07/01/2025 | First vesting date for some of the previously granted restricted stock. |
| 04/01/2026 | Vesting date for some of the previously granted restricted stock. |
| 07/01/2026 | Vesting date for some of the previously granted restricted stock. |
| 04/01/2027 | Vesting date for some of the previously granted restricted stock. |
| 07/01/2027 | Vesting date for some of the previously granted restricted stock. |
| 04/01/2028 | Vesting date for some of the previously granted restricted stock. |
| 04/01/2029 | Vesting date for some of the previously granted restricted stock. |
| 04/01/2030 | Final vesting date for some of the previously granted restricted stock. |
Keywords
Red River Bancshares, Salazar, restricted stock, Form 4, beneficial ownership, RRBI, stock grant, unvested shares
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