Company: MGNO
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0000927089-25-000061
Chunk: 73

Company: Magnolia Bancorp, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 1C
Chunk 73
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 Nature of Beneficial Ownership as of February 28, 2025(1) 
      
     Percent of Common Stock

      5% Shareholders: 

      Magnolia Bancorp, Inc. Employee Stock Ownership Plan 2900 Clearview Parkway Metairie, Luisiana 70006 

     66,700
     (2)
     8.0
     %

      Directors: 

      Michael L. Hurley 

     36,687
     (3)(4)
     4.4
     %

      John H. Andressen 

     5,000
     (3)*

      Peyton B. Burkhalter 

     5,000
     (3)*

      Anita C. Cambre 

     --
     *

      Robert M. Hurley 

     5,000
     (3)(5)*

      Jason L. Manson 

     5,000
     (6)*

      All Directors and Executive Officers as a Group (six persons) 

     56,687
     (6)(14)
     6.8
     %

___________________

*         Represents less than 1% of our outstanding common stock.

      (1) 
      Based upon filings made pursuant to the Securities Exchange Act of 1934 and information furnished by the respective individuals. Under regulations promulgated pursuant to the Securities Exchange Act of 1934, shares of common stock are deemed to be beneficially owned by a person if he or she directly or indirectly has or shares (i) voting power, which includes the power to vote or to direct the voting of the shares, or (ii) investment power, which includes the power to dispose or to direct the disposition of the shares. Unless otherwise indicated, the named beneficial owner has sole voting and dispositive power with respect to the shares. None of the shares reflected as being beneficially owned by executive officers and directors are pledged as security. 

      (2) 
      As of February 28, 2025, no shares held in the Magnolia Bancorp, Inc. Employee Stock Ownership Plan trust had been allocated to the accounts of participating employees. Under the terms of the plan, Mr. Manson as the plan trustee will vote all shares allocated in the future in accordance with the instructions of the participating employees, with any unallocated shares generally required to be voted by the plan trustee in the same ratio on any matter as to those shares for which instructions are given by the participants. Until shares