Form 4: Red River Bancshares Executive VP Tammi R. Salazar Reports Stock Sale

Tammi R. Salazar, Executive Vice President and Chief Operating Officer of Red River Bancshares, reported the sale of 22 shares of common stock by her spouse as part of a pre-arranged trading plan.

Summary

• On March 7, 2024, Tammi R. Salazar, Executive Vice President and Chief Operating Officer of Red River Bancshares, filed a Form 4 indicating changes in beneficial ownership.
• The report details the sale of 22 shares of common stock by her spouse, Bryon C. Salazar, at a price of $50.25 per share.
• This transaction was executed under a Rule 10b5-1 trading plan adopted on November 3, 2023, for diversification purposes.
• Following the transaction, Ms. Salazar's spouse directly owns 6,178 shares, including 2,020 unvested restricted shares.
• Ms. Salazar also reports direct ownership of 4,926 shares and joint ownership with her spouse of 36,125 shares, which includes 2,020 unvested restricted shares.
• The unvested restricted shares for both Ms. Salazar and her spouse vest in installments from April 1, 2024, to April 1, 2028, and are subject to forfeiture under certain conditions.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing a routine stock sale under a pre-arranged trading plan. It doesn't inherently convey positive or negative sentiment.

Industry Context

Form 4 filings are a routine part of regulatory compliance for publicly traded companies, providing transparency into the transactions of company insiders. The use of a 10b5-1 trading plan suggests the insider is selling shares in a pre-planned manner to avoid accusations of trading on inside information.

Key Dates