secwatch.observer — SEC 8-K summary
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Issuer:     Origin Bancorp, Inc. (OBK)
CIK:        0001516912
Form:       8-K
Filed at:   2022-12-12T23:59:59+00:00
Accession:  0001516912-22-000182
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1516912/000151691222000182/0001516912-22-000182-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1516912/000151691222000182/obnk-20221207.htm
  HTML page:      https://secwatch.observer/filing/0001516912-22-000182

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer