Magnolia (MGNO) CEO Michael Hurley Sells 4,000 Shares

What Happened
Michael L. Hurley, Executive Chair, CEO and a director of Magnolia Bancorp, sold 4,000 shares on August 19, 2026 at $13.71 per share for proceeds of $54,840. The transaction was a private sale to the issuer’s 2025 Recognition and Retention Plan trust (see footnote F1), not an open-market sale.

Key Details

• Transaction date: 2026-08-19; Price: $13.71 per share; Total proceeds: $54,840.
• Sale type: Disposition (S) via private sale to the Issuer’s 2025 Recognition and Retention Plan and Trust Agreement (F1).
• Shares owned after transaction: Not specified in the provided filing.
• Related footnotes: F2 notes a grant of 8,337 shares that vest 20% per year beginning Nov 20, 2026; F3 notes options that vest 20% per year beginning Nov 20, 2026.
• Filing: Form 4 filed 2026-08-24 for a 2026-08-19 transaction — this appears later than the usual 2-business-day Form 4 reporting requirement.

Context
This was a private sale to a company trust to partially fund a retention/recognition plan (per F1), which is different from an open-market sale. Sales by insiders can be routine (e.g., to cover tax or fund company plans); they do not by themselves prove a change in the insider’s view of the company. The filing also shows outstanding awards/options with multi-year vesting (F2/F3), indicating future compensation-related share issuances.