Smith Edgar R. III bought FGBI
June 30, 2025 · Form 4 insider transaction
Smith Edgar R. III bought 1,981,506 shares of First Guaranty Bancshares, Inc. at $7.57 per share, a transaction worth $15.00M. The trade was recorded as grant or award and disclosed on an SEC Form 4, filed 2 days after the transaction.
Footnotes
The 1,981,506 shares of common stock of the issuer were issued to the reporting person pursuant to the terms of the Exchange Agreement, dated as of June 16, 2025, by and between First Guaranty Bancshares, Inc. and Edgar Ray Smith, III (the "Exchange Agreement"). The Exchange Agreement provides for the issuance of 1,981,506 shares of common stock of the issuer at a price of $7.57 per share in exchange for that certain Floating Rate Subordinated Note due June 21, 2032, in the principal amount of $15,000,000. The Exchange Agreement was filed as Exhibit 10.1 to the Form 8-K filed by First Guaranty Bancshares, Inc. with the SEC on June 18, 2025.