1st Friday in Feb, gets rid of the issue with a large group being unhappy with the date, and gets rid of one more potential midweek holiday, who wants to celebrate with work the next day? Part timers, contractors, casuals and hospo workers are always gonna risk a work day the next day, but we can at least solve it for full timers.

My thoughts on the 26th: I've somehow got to juggle three birthdays on that date: my sister, and two friends.

Change it. There is zero good reason to keep the date, we can have a day off another day and still get what we want out of it.