Business Context and Reporting Period
Company: Origin Bancorp, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: August 20, 2018
Reporting Period: Specific event date of August 20, 2018
This filing reports a corporate governance event regarding the Board of Directors' approval of a new form of Restricted Stock Award Agreement for certain directors under the 2012 Stock Incentive Plan.
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 executive compensation arrangements and does not contain financial performance data.
Material Changes
Compensatory Arrangements: On August 20, 2018, the Board granted time-vested restricted stock to certain directors using a new Award Agreement. Key changes in the agreement include:
- Provision for the accrual and payout of dividends upon the vesting of the underlying Restricted Stock.
- Imposition of confidentiality, non-solicitation, and other related covenants on the recipients.
Guidance, Outlook, and Risks
The filing text does not provide a clear value for guidance, outlook, management commentary on future performance, or specific risk factors. The document is limited to the disclosure of the new award agreement terms.
Key Facts for Investor Verification
- Verify the specific number of shares granted and the vesting schedule details in the attached Exhibit 10.1 (Form of Restricted Stock Award Agreement).
- Confirm the total number of directors receiving these awards.
- Review the specific terms of the confidentiality and non-solicitation covenants included in the new agreement.
- Check subsequent filings for the actual grant date and valuation of the restricted stock.