4//SEC Filing
Rhyne Johnathan L Jr 4
Accession 0000870385-20-000021
CIK 0000870385other
Filed
May 3, 8:00 PM ET
Accepted
May 4, 12:12 PM ET
Size
7.6 KB
Accession
0000870385-20-000021
Insider Transaction Report
Form 4
Rhyne Johnathan L Jr
Director
Transactions
- Disposition to Issuer
Option to Purchase Common Stock
2020-05-01−1,248→ 0 totalExercise: $7.10Exp: 2022-03-20→ Common Stock (1,248 underlying) - Disposition to Issuer
Common Stock
2020-05-01−47,561→ 0 total
Footnotes (2)
- [F1]Disposed of in accordance with the Agreement 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, a Reporting Person no longer beneficially owns, directly or indirectly, any shares of Carolina Financial Corporation common stock.
- [F2]Pursuant to the Merger Agreement, at the effective time of the Merger, each stock option not cashed out at the election of the reporting person, was converted into the right to acquire shares of United Bancshares, Inc. common stock, as adjusted to reflect the exchange ratio of 1.13.
Documents
Issuer
CAROLINA FINANCIAL CORP
CIK 0000870385
Entity typeother
Related Parties
1- filerCIK 0001676637
Filing Metadata
- Form type
- 4
- Filed
- May 3, 8:00 PM ET
- Accepted
- May 4, 12:12 PM ET
- Size
- 7.6 KB