Company: FGBI
Filing Date: 2025-04-18
Form Type: DEF 14A
Source: 0001408534-25-000019
Chunk: 11

Company: First Guaranty Bancshares, Inc.
Filing Date: 2025-04-18
Form: DEF 14A
Chunk 11
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 reports, Edgar R. Smith III had 1 late Form 4 reporting 1 late transaction. William K. Hood had one late Form 4 reporting one late transaction. Michael R. Mineer has one late Form 3 reporting. First Guaranty has implemented enhanced procedures to help its officers and directors mitigate the possibility of their making late Form 4 filings in the future. No other executive officer, director or 10% beneficial owner of our shares of common stock failed to file ownership reports for 2024 on a timely basis. First Guaranty relies on written representations of its directors and executive officers and copies of the reports that have been filed in making required disclosures concerning beneficial ownership reporting.

#### Board Leadership Structure
First Guaranty has chosen to separate the principal executive officer and board chair positions in order to provide a higher degree of independence and transparency between the Board and management. This leadership structure of the Board has been in place since the inception of First Guaranty. The Chairman of the Board provides guidance to the Chief Executive Officer, is active in setting the agenda for Board meetings, and presides over meetings of the full Board. The Chief Executive Officer is responsible for setting the strategic direction for First Guaranty and the day to day leadership and performance of First Guaranty. The Board believes that this leadership structure is most appropriate given the Board's and First Guaranty's conservative risk profile and the Board's role in monitoring First Guaranty's execution of its business plan and the risk elements associated with such execution. Given the independent roles both the Board and management have in monitoring First Guaranty's risk, First Guaranty believes that its current leadership structure is well positioned to identify and mitigate these and other risks as they may arise.

#### Board's Role in Risk Oversight
The Board's role in First Guaranty's risk oversight process includes receiving regular reports from members of senior management on areas of material risk to First Guaranty, including operational, financial, legal and regulatory, strategic and reputational risks. The full Board (or the appropriate committee in the case of risks that are reviewed and discussed at committee meetings) receives these reports from the appropriate "risk owner" within the organization to enable the Board or appropriate committee to understand our risk identification, risk management and risk mitigation strategies. When a committee receives the report, the Chairman of the relevant committee reports on the discussion to the full Board at the next Board meeting. This enables the Board and its committees to coordinate the risk oversight role, particularly with respect to risk