Form 4: Red River Bancshares SVP Julia Callis Receives Stock Grant

Julia Callis, Senior Vice President, General Counsel, and Corporate Secretary of Red River Bancshares Inc., reports the acquisition of 500 shares of restricted stock on April 1, 2024.

Summary

• On April 1, 2024, Julia E. Callis, Senior Vice President, General Counsel, and Corporate Secretary of Red River Bancshares Inc. (RRBI), acquired 500 shares of common stock.
• These shares are unvested restricted stock granted to Ms. Callis, which will vest in equal installments over five years.
• The grant was priced at $0.
• Following the transaction, Ms. Callis beneficially owns 13,537 shares of Red River Bancshares Inc.
• This total includes 940 previously granted unvested restricted shares that vest over several dates from July 1, 2024, to April 1, 2029.
• The unvested restricted stock is subject to forfeiture under certain conditions outlined in the grant agreement.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. It reflects a standard executive compensation practice, indicating confidence in the executive and aligning interests with shareholders. There are no overtly negative implications.

Positives

• The grant of restricted stock 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, which could impact the executive's holdings.

Future Outlook

The executive's holdings will increase as the restricted stock vests over the coming years, assuming continued employment and fulfillment of grant conditions.

Industry Context

Stock grants are a common form of executive compensation in the banking industry, aligning management's interests with those of shareholders and incentivizing long-term performance.

Comparison to Industry Standards

• Comparing the size and vesting schedule of this grant to those of executives at peer banks (e.g., community and regional banks with similar asset sizes) would provide context on whether this grant is typical or exceptional.
• Companies like Hancock Whitney Corporation (HBHC) and Home Bancorp, Inc. (HBCP) are regional banks that could be used as benchmarks for executive compensation practices.

Stakeholder Impact

• Shareholders may view the stock grant positively as it aligns management's interests with the company's long-term success.
• Employees may see this as a positive sign of the company's commitment to its leadership.

Key Dates