Richard Gallot, Jr.
About Richard Gallot, Jr.
Independent director at Origin Bancorp, Inc. (OBK); age 58; director since 2019. President & CEO of the University of Louisiana System (since Jan 2024); previously President of Grambling State University (2016–2023); licensed attorney; former Louisiana State Senator (2012–2016) and Louisiana House Representative (2000–2012). Education: B.A. in History (Grambling State University) and J.D. (Southern University Law Center). Also serves on the Board of Directors of Cleco Corporation (electric utility, Pineville, LA) since 2016 .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Grambling State University | President | 2016–2023 | Led initiatives to increase enrollment and alumni engagement |
| Louisiana State Senate | Member | 2012–2016 | Legislative service |
| Louisiana House of Representatives | Member | 2000–2012 | Legislative service |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| University of Louisiana System | President & CEO | Jan 2024–Present | Oversees multi-campus higher-education system |
| Cleco Corporation | Director | 2016–Present | Board role at electric utility headquartered in Pineville, LA |
Board Governance
- Independence: Classified as independent under NYSE and SEC standards; OBK anticipates 10 of 11 directors being independent, including Gallot .
- Committee assignments: Not listed as a member of Audit, Compensation, Nominating & Corporate Governance, Finance, or Risk Committees in 2024/2025 rosters .
- Attendance/engagement: Board met seven times in 2024; each director participated in 75%+ of Board and assigned committee meetings; all fifteen then-serving directors attended the 2024 annual meeting; all directors are expected to attend the upcoming annual meeting .
- Lead Independent Director structure: Lead Independent Director (James D’Agostino, Jr.) presides at executive sessions, approves agendas and board information, and liaises between independent directors and the Chair/CEO .
- Board size optimization: Board reduced from 16 to 11 directors for governance efficiency; five directors not standing for re-election in 2025 (no disagreements noted) .
Fixed Compensation
| Component | Disclosure |
|---|---|
| Annual cash retainer (non-employee director) | $45,000 |
| Equity-based award (RSAs) per director | $50,000; granted after annual meeting (May) and vest at next annual meeting date, subject to continued service |
| Lead Independent Director premium | $25,000 |
| Committee service fees | Audit: $6,000 member / $12,000 chair; Compensation: $4,000 / $9,000; Finance: $3,000 / $5,000; Nominating & Corporate Governance: $3,500 / $6,500; Risk: $3,000 / $5,000 |
| Director | Fees Earned or Paid in Cash ($) | Stock Awards ($) | All Other Compensation ($) | Total ($) |
|---|---|---|---|---|
| Richard J. Gallot, Jr. (FY2024) | 48,500 | 50,007 | — | 98,507 |
Notes: RSAs are accounted for at grant-date fair value; equity grants for directors vest at the following annual meeting date (time-based, not performance-based) .
Performance Compensation
| Item | Disclosure |
|---|---|
| Performance-based metrics tied to director pay | None disclosed for non-employee directors; equity grants are time-based RSAs vesting at the next annual meeting |
| Meeting fees | Not listed; director cash compensation is primarily retainer and committee fees |
Other Directorships & Interlocks
| Company | Role | Interlock/Conflict Notes |
|---|---|---|
| Cleco Corporation | Director | No OBK compensation committee interlocks disclosed; compensation committee members were independent and had no related-party relationships requiring disclosure |
| University of Louisiana System | President & CEO | Significant external leadership role; no related-party transactions disclosed involving Gallot |
Expertise & Qualifications
- Legal acumen as a licensed attorney; experience in legislative governance and public leadership .
- Higher-education system management as President & CEO of the University of Louisiana System; prior university presidency with enrollment/alumni engagement impact .
- Board service in utilities (Cleco Corporation), adding regulatory and public infrastructure perspective .
- Education: B.A. (History) and J.D., supporting governance and risk oversight competencies .
Equity Ownership
| Metric | Value |
|---|---|
| Total beneficial ownership | 7,969 shares; less than 1% of outstanding |
| Unvested restricted stock included | 1,514 shares |
| Options (exercisable/unexercisable) | None disclosed for Gallot |
| Director ownership guidelines | Non-employee directors: minimum 5× annual cash retainer; all directors and executives were in compliance as of Dec 31, 2024 |
| Hedging/pledging policy | Hedging prohibited; pledging discouraged and requires pre-approval; margin accounts prohibited |
| Section 16(a) compliance | All required reports timely filed for FY2024 |
Governance Assessment
- Committee influence: Not currently on standing committees, limiting direct oversight of audit, risk, or compensation matters; independent status and Board participation still provide governance value .
- Attendance & engagement: Met company thresholds (≥75% attendance) and annual meeting participation, supporting reliability and engagement .
- Alignment: Director equity retainer plus stringent stock ownership guidelines (5× cash retainer) and anti-hedging policies support alignment with shareholders .
- Conflicts/related-party exposure: No related-party transactions disclosed involving Gallot; ordinary-course related-party frameworks and reviews in place .
- Shareholder sentiment: Strong support for executive compensation (98% Say-On-Pay approval in 2024) signals broader governance confidence, though it does not directly evaluate director effectiveness .
Red Flags
- None disclosed specific to Gallot: no attendance issues, no related-party transactions, no hedging/pledging disclosures adverse to policy, and timely Section 16 filings .
Watch items
- Time commitments: Concurrent service as President & CEO of the University of Louisiana System and director at Cleco may warrant ongoing monitoring of engagement, though 2024 attendance thresholds were met .