BRANDON W. SCOTT 4
4 · CAROLINA FINANCIAL CORP · Filed May 4, 2020
Insider Transaction Report
Form 4Exit
BRANDON W. SCOTT
Director
Transactions
- Disposition to Issuer
Common Stock
[F1]2020-05-01−86,466→ 0 total - Disposition to Issuer
Common Stock
[F1]2020-05-01−21,215→ 0 total(indirect: By LLC) - Disposition to Issuer
Common Stock
[F1]2020-05-01−48,932→ 0 total(indirect: By 401(k))
Footnotes (1)
- [F1]Disposed of in accordance with the Agreeement and Plan of Merger, dated as of November 17, 2019 (the "Merger Agreement"), by and between Carolina Financial Corporation and United Bancshares, Inc., pursuant to which Carolina Financial Corporation was merged with and into United Bancshares, Inc., effective May 1, 2020 (the "Merger"). On May 1, 2020, the effective date of the Merger, each issued and outstanding share of Carolina Financial Corporation common stock was converted into the right to receive 1.13 shares of United Bancshares, Inc. common stock (subject to the payment of cash in lieu of fractional shares). As a result of the Merger, the Reporting Person no longer beneficially owns, directly, any shares of Carolina Financial Corporation common stock.
Signature
/s/W. Scott Brandon|2020-05-04