Bryon C. Salazar - Jul 15, 2024 Form 4 Insider Report for RED RIVER BANCSHARES INC (RRBI)

Signature
/s/ Julia E. Callis, as Attorney-in-Fact
Stock symbol
RRBI
Transactions as of
Jul 15, 2024
Transactions value $
-$29,094
Form type
4
Date filed
7/16/2024, 01:24 PM
Previous filing
Apr 3, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction RRBI Common Stock Sale -$29.1K -576 -12.06% $50.51 4.2K Jul 15, 2024 By Spouse F1, F2, F3
holding RRBI Common Stock 40.3K Jul 15, 2024 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Reflects the sale of 576 shares of common stock held directly by the reporting person's spouse, Tammi R. Salazar, as part of a diversification strategy under the terms of a trading plan under Rule 10b5-1 executed on November 3, 2023.
F2 This transaction was executed in multiple trades at prices ranging from $50.50 to $50.64, inclusive. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.
F3 Held directly by the reporting person's spouse, Tammi R. Salazar. Includes 2,380 shares of unvested restricted stock granted to the reporting person's spouse which vest as follows: (i) 360 shares vest on April 1, 2025; (ii) 360 shares vest on July 1, 2025; (iii) 360 shares vest on April 1, 2026; (iv) 240 shares vest on July 1, 2026; (v) 360 shares vest on April 1, 2027; (vi) 140 shares vest on July 1, 2027; (vii) 360 shares vest on April 1, 2028; and (viii) 200 shares vest on April 1, 2029. The reported shares of unvested restricted stock are subject to forfeiture upon the occurrence of certain events specified in the restricted stock grant.
F4 Consists of 36,125 shares in a joint account with the reporting person's spouse, Tammi R. Salazar, and 4,200 shares held directly by the reporting person. Includes 2,380 shares of unvested restricted stock granted to the reporting person which vest as follows: (i) 360 shares vest on April 1, 2025; (ii) 360 shares vest on July 1, 2025; (iii) 360 shares vest on April 1, 2026; (iv) 240 shares vest on July 1, 2026; (v) 360 shares vest on April 1, 2027; (vi) 140 shares vest on July 1, 2027; (vii) 360 shares vest on April 1, 2028; and (viii) 200 shares vest on April 1, 2029. The reported shares of unvested restricted stock are subject to forfeiture upon the occurrence of certain events specified in the restricted stock grant.

Remarks:

Executive Vice President and Chief Banking Officer of Red River Bank