Business Context and Reporting Period
This Form 8-K Current Report was filed by Origin Bancorp, Inc. on February 24, 2021. The filing addresses corporate governance changes regarding the board of directors effective at the 2021 annual meeting of stockholders.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel changes and does not contain financial performance data.
Material Changes
The primary material change reported is the departure of two directors:
- F. Ronnie Myrick: Decided not to stand for re-election. His departure from the boards of Origin Bancorp, Inc. and Origin Bank, as well as the Risk and Finance Committees, will be effective upon the expiration of his term at the 2021 annual meeting. He has served as a director since 2008.
- George Snellings, IV: Decided not to stand for re-election. His departure from the boards of Origin Bancorp, Inc. and Origin Bank, as well as the Audit and Risk Committees, will be effective upon the expiration of his term at the 2021 annual meeting. He has served as a director since 2012 (Bancorp) and 2007 (Bank).
The filing explicitly states that these departures did not result from any disagreements with the Registrant or matters related to its operations, practices, or policies.
Outlook and Management Commentary
The board intends to offer a slate of directors for election at the 2021 annual meeting, which will include two new nominations. Management expects these new nominees will contribute to the skills and diversity of the board. Further details regarding the nominees will be disclosed in the 2021 proxy statement.
Key Facts for Investor Verification
- Verify the specific names and qualifications of the two new director nominees in the upcoming 2021 proxy statement.
- Confirm the exact date of the 2021 annual meeting of stockholders to determine the effective date of the board composition changes.
- Review the 2021 proxy statement for any additional context regarding the board's strategy for enhancing skills and diversity.