Mills Drake 4

What Happened

• Mills Drake, Chairman, President & CEO of Origin Bancorp (OBK), had 1,757 restricted stock units (RSUs) convert into 1,757 common shares on February 17, 2026 (transaction code M — exercise/conversion of a derivative). To satisfy tax withholding obligations, 785 of those shares were withheld by the issuer at $43.98/share for a withholding amount of $34,524 (transaction code F). The withholding was a net settlement — not an open-market sale — leaving 972 shares delivered to Drake.

Key Details

• Transaction date: February 17, 2026; Form 4 filed February 19, 2026 (timely).
• Conversion: 1,757 RSUs → 1,757 common shares (code M).
• Tax withholding: 785 shares withheld at $43.98 = $34,524 withheld (code F). Withheld shares were not sold on the open market.
• Net shares delivered to insider: 972 (1,757 − 785).
• Grant/vesting info: RSUs were granted Feb 17, 2023 and vest ratably over three years (first vest Feb 17, 2024) (footnote F3).
• Shares owned after transaction: not disclosed in the filing.

Context

• This was a routine RSU vesting and net settlement to cover taxes (cashless/net withholding), not a stock sale. Such tax-withholding withholdings are common and do not necessarily indicate the insider is selling shares for investment reasons. Transaction codes: M = exercise/conversion of derivative (here, RSU conversion); F = shares withheld to cover tax liabilities.