Origin Bancorp grants CEO $10M one-time stock award with multi-year vesting and stock price hurdles

Origin Bancorp, Inc.

CEO Drake Mills granted $10M one-time award: 129,736 RSUs and 129,735 PSUs, effective Dec 13, 2022.
RSUs vest in five equal installments on third through seventh anniversaries; PSUs vest if stock price appreciates 20% per hurdle (100% total) over 7 years.
Mills agreed to a 2-year non-competition covenant in exchange for the award.
Board also approved a Nonqualified Deferred Compensation Plan for executives and employees, effective Jan 1, 2023.

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