Vestal Michael E 4

4 · SOUTHERN COMMUNITY BANCORP · Filed Sep 3, 2004

Form 4

Period: 2003-04-01

Director

Transactions

Award
Common Stock
[F3]
2004-03-01$10.50/sh+428$4,494→ 6,428 total
Award
Common Stock
[F4]
2004-03-31$14.00/sh+107$1,498→ 6,535 total
Award
Stock Option
[F2][F1]
2003-04-01+5,000→ 5,000 total
Exercise: $14.00From: 2004-04-01Exp: 2013-04-01→ common stock (5,000 underlying)
Award
Stock Option
[F2][F5]
2004-02-03+2,500→ 2,500 total
Exercise: $14.00From: 2005-02-03Exp: 2014-02-03→ common stock (2,500 underlying)

Footnotes (5)

[F1]These options vest ratably over a period of three years, commencing on February 1, 2004.
[F2]These options were granted to the reporting person, without payment therefor, as compensation for serving as a director of the issuer.
[F3]The reporting person elected to receive, in lieu of a cash payment for attending during 2003 board of directors' meetings of certain subsidiaries of the issuer, these shares of common stock of the issuer. At the time of this election, the market value of the issuer's common stock was determined to be $10.50 per share.
[F4]The reporting person elected to receive, in lieu of a cash payment for attending during 2004 board of directors' meetings of certain subsidiaries of the issuer, these shares of common stock of the issuer. At the time of this election, the market value of the issuer's common stock was determined to be $14.00 per share.
[F5]These options vest ratably over a period of three years, commencing on February 3, 2005.

Signature

Michael E. Vestal|2004-09-02

Documents

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