Earnest Ronald K 4/A
4/A · GRANDSOUTH BANCORPORATION · Filed Aug 25, 2005
Insider Transaction Report
Form 4/AAmended
GRANDSOUTH BANCORPORATIONOTCBB:GRRB
Earnest Ronald K
DirectorPresident and COO
Transactions
- Conversion
Common Stock
2005-08-19$5.12/sh+9,765$49,997→ 65,667 total - Award
Options (rights to buy)
2005-08-19+34,179→ 153,169 totalExercise: $10.05From: 2006-08-19Exp: 2015-08-19→ Common Stock (34,179 underlying) - Conversion
Convertible Debentures
2005-08-19−9,765→ 0 totalExercise: $5.12From: 2005-08-19Exp: 2011-01-02→ Common Stock (9,765 underlying)
Footnotes (3)
- [F1]The conversion price represents the contract price of $6.50 as adjusted for stock dividends.
- [F2]The first redemption date on the Convertible Debentures is January 1, 2006, as stated in the contract, but the Issuer made an offer (which was accepted) to the holders of the debentures to convert early.
- [F3]These options are exercisable at 20% per year over 5 years and expire in 10 years.