Mills Drake 4

What Happened

• Mills Drake, Chairman, President & CEO of Origin Bancorp (OBK), had restricted stock units (RSUs) vest on Feb 20, 2026. 4,232 RSUs converted into common shares. To satisfy tax withholding, 1,761 of those shares were withheld at $43.97 per share (value withheld ≈ $77,431). In the same filing he was granted 11,406 new RSUs on Feb 20, 2026 (these are awards, not immediate cash sales).

Key Details

• Transaction date: February 20, 2026.
• Vesting/conversion: 4,232 RSUs converted to common stock (derivative conversion).
• Tax withholding: 1,761 shares withheld at $43.97/share, total value withheld ≈ $77,431 (this withholding is not an open-market sale).
• New award: 11,406 RSUs granted on Feb 20, 2026; these RSUs vest ratably over three years with first vest date Feb 20, 2027.
• Footnotes summary:
  • RSUs convert one-for-one into common stock at settlement.
  • The withheld 1,761 shares represent shares retained by the issuer to satisfy income tax withholding (not a sale).
  • The 4,232 conversion appears tied to a prior grant (Feb 20, 2025) with first vest date Feb 20, 2026.
  • Each RSU represents the right to receive one share (or cash at issuer’s determination) at settlement.
• Shares owned after transaction: not specified in this filing.
• Filing date: Form 4 filed Feb 24, 2026 reporting Feb 20 activity (investors may note the filing interval vs. the usual two-business-day reporting requirement).

Context

• This was primarily a vesting and award event — not an open-market purchase or sale. The withholding of shares to cover taxes is a routine administrative action and should not be read as a market sale. The 11,406-share award is an RSU grant that vests over time (three-year schedule), so it does not represent immediately tradable stock.