Crotwell Jim 4

What Happened

• Jim Crotwell, Chief Risk Officer of Origin Bancorp (OBK), had restricted stock units (RSUs) convert on February 20, 2026 and was also granted a new RSU award. The filing shows conversion/exercise of derivative RSUs and a tax withholding of 229 shares to cover income tax obligations (229 shares x $43.97 = $10,069). Separately, he was granted 2,047 RSUs (reported as a derivative award).

Key Details

• Transaction date: February 20, 2026 (Form 4 filed Feb 24, 2026).
• Converted/exercised (derivative, code M): entries for 718 shares (reported as conversion/exercise).
• Tax/payment withholding (code F): 229 shares withheld at $43.97 per share to satisfy tax liabilities, totaling $10,069. The filing notes withheld shares are for tax remittance and do not represent an open‑market sale (Footnote F2).
• New grant/award (code A): 2,047 RSUs granted (reported as derivative, $0 per share).
• Footnotes:
  • F1/F4: These are restricted stock units that convert one‑for‑one into common stock (or may be settled in cash per the incentive agreement).
  • F3: The RSUs that converted were from a February 20, 2025 grant that vests ratably over three years with the first vest date of Feb 20, 2026 (so the conversion reflects a scheduled vesting).
  • F5: The 2,047 RSU grant was granted on Feb 20, 2026 and vests ratably over three years beginning Feb 20, 2027.
• Shares owned after the transaction: not disclosed in the provided filing excerpt.
• Filing timeliness: Form filed Feb 24, 2026 reporting Feb 20, 2026 activity (filing date shown in the record).

Context

• These entries reflect RSU vesting and a new RSU award rather than an open‑market purchase or sale. The 229 withheld shares were used to satisfy tax withholding (a common net settlement procedure), which is not the same as selling shares on the open market.
• Derivative code M denotes conversion/exercise of RSUs or other equity derivatives; code F denotes shares withheld to cover tax liabilities; code A denotes grant/award.