CITIZENS SOUTH BANKING CORP 4

4 · CITIZENS SOUTH BANKING CORP · Filed Aug 14, 2006

Form 4

Period: 2006-08-10

Senior VP of Subsidiary Bank

Transactions

Sale
Common Stock
2006-08-11$12.65/sh−3,220$40,733→ 9,200 total
Exercise/Conversion
Stock Option (Right to Buy)
2006-08-10−780→ 18,696 total
Exercise: $5.61From: 1999-04-19Exp: 2009-04-19→ Common Stock (780 underlying)
Sale
Common Stock
2006-08-10$12.75/sh−580$7,395→ 9,400 total
Exercise/Conversion
Stock Option (Right to Buy)
2006-08-11−3,220→ 15,476 total
Exercise: $5.61From: 1999-04-19Exp: 2009-04-19→ Common Stock (3,220 underlying)
Exercise/Conversion
Common Stock
2006-08-10$5.61/sh+780$4,372→ 9,980 total
Sale
Common Stock
2006-08-10$12.68/sh−100$1,268→ 9,300 total
Exercise/Conversion
Common Stock
2006-08-11$5.61/sh+3,220$18,048→ 12,420 total

Holdings

Stock Option (Right to Buy)
Exercise: $15.04From: 2003-11-03Exp: 2013-11-03→ Common Stock (20,000 underlying)
20,000
Common Stock
(indirect: By IRA)
2,700
Common Stock
(indirect: By 401(k))
8,749
Common Stock
(indirect: By his ESOP)
8,276

Footnotes (3)

[F1]Includes remaining shares from 10,000 Recognition and Retention awards that vest over a seven-year period, commencing on November 3, 2003, at the rate of 30% on November 3, 2003, 10% on January 2, 2004, 10% on November 3, 2005, and 10% per year on November 3 of each year thereafter.
[F2]This Employee Incentive Stock Option vested in five (5) equal annual installments beginning April 19, 1999, and is vested.
[F3]This Employee Incentive Stock Option vested over a five-year period, commencing on the initial date of employment with Citizens South Bank and, therefore, vested on date of grant.

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