FIRST SOUTH BANCORP INC /VA/ 4
4 · FIRST SOUTH BANCORP INC /VA/ · Filed Jan 2, 2008
Insider Transaction Report
Form 4
GIBBS LINLEY H JR
Director
Transactions
- Exercise/Conversion
Common Stock
2008-01-02$5.41/sh+36,393$196,777→ 94,022 total - Tax Payment
Common Stock
2008-01-02$23.29/sh−8,449$196,777→ 57,629 total - Exercise/Conversion
Right to buy Options
2008-01-02−36,393→ 0 totalExercise: $5.41From: 1998-04-08Exp: 2008-04-08→ Common Stock (36,393 underlying)
Holdings
- 31,222(indirect: By IRA)
Common Stock
- 51,750(indirect: By Trust)
Common Stock
Footnotes (3)
- [F1]Exercised an in-the-money right to by option. Exercise price of $5.407. Market value of $23.29 on date exercised.
- [F2]Exchanged 8,449 shares at market price of $23.29 to pay for exercise price of 36,393 in-the-money options exercised at $5.407 per share.
- [F3]Tendered shares are exempt from Section 16(b) pursuant to a resolution adopted by the board of directors of issuer.