FB Bancorp (FBLA) grants 100,000 options and 40,000 shares to officer
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
FB Bancorp Chief Risk/Credit Officer Patrick L. Griggs received equity compensation grants. He was awarded stock options on 100,000 shares of Common Stock at an exercise price of $13.5200 per share, expiring on March 25, 2036, vesting 20% annually starting March 25, 2027.
He also received 40,000 shares of restricted Common Stock, which vest 20% per year beginning on March 25, 2027. Following these awards, he holds 45,000 shares of Common Stock directly and 1,567 shares indirectly through an ESOP, plus the newly granted options.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
Griggs Patrick L
Role
Chief Risk/Credit Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Stock Options | 100,000 | $0.00 | -- |
| Grant/Award | Common Stock | 40,000 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Options — 100,000 shares (Direct);
Common Stock — 45,000 shares (Direct);
Common Stock — 1,567 shares (Indirect, By ESOP)
Footnotes (1)
- Shares of restricted stock vest at a rate of 20% per year commencing on March 25, 2027. Reflect transactions not required to be reported pursuant to Section 16 of the Securities Act of 1934, as amended. Stock options vest at a rate of 20% per year commencing on March 25, 2027.
FAQ
What did FBLA insider Patrick L. Griggs receive in this Form 4 filing?
Patrick L. Griggs received equity compensation, including stock options on 100,000 shares and 40,000 restricted shares. These awards increase his exposure to FB Bancorp, Inc. while aligning his incentives with long-term shareholder performance through multi-year vesting schedules.
What are the terms of the stock options granted to FBLA’s Patrick L. Griggs?
Griggs was granted options on 100,000 FB Bancorp shares at an exercise price of $13.5200 per share. The options vest 20% per year starting March 25, 2027 and expire on March 25, 2036, creating a long-dated incentive.
How do the restricted stock awards for FBLA’s Patrick L. Griggs vest?
The 40,000 restricted FB Bancorp shares vest at 20% per year beginning on March 25, 2027. This five-year vesting schedule encourages continued service and ties a meaningful portion of his compensation to future company performance.
Were these FBLA transactions open-market purchases or sales?
No, the Form 4 shows grant or award acquisitions, not market trades. Both the stock options and restricted shares were granted as compensation at a reported price of $0.0000 per share, rather than bought or sold in the open market.