Monarch Financial Holdings, Inc. 4
4 · Monarch Financial Holdings, Inc. · Filed Jun 28, 2016
Insider Transaction Report
Form 4
BENSON JEFFREY F
Director
Transactions
- Disposition to Issuer
Common Stock
2016-06-24−105,267→ 0 total
Footnotes (1)
- [F1]Effective June 24, 2016, Monarch Financial Holdings, Inc. (the "Company") merged with and into TowneBank, with TowneBank as the surviving company, pursuant to an Agreement and Plan of Reorganization, dated as of December 16, 2015, by and among the Company, Monarch Bank and TowneBank (the "Merger"). In the Merger, each share of the Company's common stock converted into 0.8830 shares of TowneBank common stock. The closing price of TowneBank's common stock on June 24, 2016 was $21.21 per share.