Drake Mills - Feb 17, 2023 Form 4 Insider Report for Origin Bancorp, Inc. (OBK)

Role
Chairman, President and CEO, Director
Signature
/s/ Drake Mills
Stock symbol
OBK
Transactions as of
Feb 17, 2023
Transactions value $
-$17,679
Form type
4
Date filed
2/22/2023, 04:30 PM
Previous filing
Dec 13, 2022
Next filing
May 2, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction OBK Common Stock Options Exercise +1.56K +1.18% 134K Feb 17, 2023 Direct F1
transaction OBK Common Stock Tax liability -$17.7K -446 -0.33% $39.64 133K Feb 17, 2023 Direct F2
holding OBK Common Stock 3.47K Feb 17, 2023 By IRA
holding OBK Common Stock 51.9K Feb 17, 2023 BY ISSUER RETIREMENT PLAN

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction OBK Restricted Stock Units Options Exercise $0 -1.56K -33.32% $0.00 3.11K Feb 17, 2023 Common Stock 1.56K Direct F1, F3
transaction OBK Restricted Stock Units Award $0 +5.27K $0.00 5.27K Feb 17, 2023 Common Stock 5.27K Direct F4, F5
holding OBK Performance Stock Units 130K Feb 17, 2023 Common Stock 130K Direct F6, F7
holding OBK Restricted Stock Units 130K Feb 17, 2023 Common Stock 130K Direct F4, F8
holding OBK Restricted Stock Units 8.25K Feb 17, 2023 Common Stock 8.25K Direct F4, F9
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Restricted stock units convert into common stock on a one-for-one basis.
F2 Represents the number of common stock that have been withheld by the issuer to satisfy its income tax withholding and remittance obligations in connection with the net settlement of the restricted stock units and does not represent a sale.
F3 Granted on February 18, 2022, vesting ratably over three years with the first vest date of February 17, 2023.
F4 Each restricted stock unit represents the contingent right to receive, at settlement, one share of the issuer's common stock or cash equal to the fair value thereof (calculated pursuant to the incentive agreement), as determined by the issuer.
F5 Granted on February 17, 2023, vesting ratably over three years with the first vest date of February 17, 2024.
F6 Each performance stock unit represents the contingent right to receive, at settlement, one share of the issuer's common stock or cash equal to the fair value thereof (calculated pursuant to the incentive agreement), as determined by the issuer.
F7 The performance stock units ("PSUs") are eligible to vest based on achievement of five pre-established stock price hurdles (each, a "Stock Price Hurdle") during a seven-year performance period beginning on December 13, 2022. Each of the five tranches of PSUs will vest on the later of the date that the applicable Stock Price Hurdle is achieved or the third, fourth, fifth, sixth and seventh anniversaries of the grant date.
F8 Granted on December 13, 2022, vest twenty percent on each of the third, fourth, fifth, sixth and seventh anniversaries of the grant date, starting with the first vest date of December 13, 2025, and settle as soon as administratively possible following the applicable vesting date, but in any event within 30 days thereof.
F9 Granted on August 20, 2021, vesting ratably over three years with the first vest date of August 19, 2022.