Red River Bancshares Files 8-K

TL;DR

RRBI filed an 8-K on 3/13/24 for a material agreement. Details TBD.

AI Summary

On March 13, 2024, Red River Bancshares, Inc. filed an 8-K report. The filing primarily concerns the entry into a material definitive agreement and includes financial statements and exhibits. No specific details of the agreement or financial figures were provided in the excerpt.

Why It Matters

This filing indicates a significant event for Red River Bancshares, Inc., potentially involving a new material agreement that could impact its business operations and financial standing.

Risk Assessment

Risk Level: low — The filing is a standard corporate disclosure and does not contain information that inherently suggests high risk.

Key Players & Entities

• RED RIVER BANCSHARES INC (company) — Filer
• March 13, 2024 (date) — Date of Report
• Louisiana (location) — State of Incorporation
• Alexandria, Louisiana (location) — Principal Executive Offices

FAQ

Key Financial Figures

• $10.0 million — a total purchase price of approximately $10.0 million. The purchase price for the Common Stoc
• $5.0 million — l to the Company's previously announced $5.0 million repurchase program and did not impact t

Filing Documents

• rrbi-20240313.htm (8-K) — 29KB
• stockrepurchaseagreementex.htm (EX-10.1) — 61KB
• 0001071236-24-000020.txt ( ) — 232KB
• rrbi-20240313.xsd (EX-101.SCH) — 2KB
• rrbi-20240313_lab.xml (EX-101.LAB) — 23KB
• rrbi-20240313_pre.xml (EX-101.PRE) — 13KB
• rrbi-20240313_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On March 13, 2024, Red River Bancshares, Inc. (the "Company") entered into a stock repurchase agreement (the "Stock Repurchase Agreement") with the Angela Katherine Simpson Irrevocable Trust UA 25-NOV-03 and the John Charles Simpson Jr. Irrevocable Trust UA 25-NOV-03 (the "Stockholders") for the purchase by the Company of 200,000 shares of the Company's common stock, no par value per share (the "Common Stock") from the Stockholders in a privately-negotiated transaction for a total purchase price of approximately $10.0 million. The purchase price for the Common Stock reflects a discount to the 60-day volume weighted average price on March 5, 2024. The Stock Repurchase Agreement contains customary representations and warranties, covenants, and closing conditions, and the transaction is expected to close on or before March 15, 2024. The Stockholders, whose beneficiaries are the children of former Company director John C. Simpson, have informed the Company that they are entering into the Stock Repurchase Agreement in order to diversify their investment portfolios for estate planning purposes. The Company's Board of Directors and the Nominating and Corporate Governance Committee of the Board of Directors approved the repurchase. Prior to the transaction, the Angela Katherine Simpson Irrevocable Trust UA 25-NOV-03 and the John Charles Simpson Jr. Irrevocable Trust UA 25-NOV-03 directly and indirectly beneficially owned 414,739 and 421,407 shares of Common Stock, respectively, representing collectively 11.8% of the Company's issued and outstanding Common Stock. Immediately following the transaction, the Angela Katherine Simpson Irrevocable Trust UA 25-NOV-03 and the John Charles Simpson Jr. Irrevocable Trust UA 25-NOV-03 will directly and indirectly beneficially own 314,739 and 321,407 shares of Common Stock, respectively, representing collectively 9.2% of the Company's issued and outstanding Common Stock. The rep

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: March 13, 2024 RED RIVER BANCSHARES, INC. By: /s/ Julia E. Callis Julia E. Callis Senior Vice President, General Counsel, and Corporate Secretary

View Full Filing

View this 8-K filing on SEC EDGAR