Kallsen Tony E 4

What Happened

• Tony E. Kallsen, Senior EVP and Chief Credit Officer of Carter Bankshares (CARE), was granted two restricted stock awards on Feb 25, 2026 totaling 4,358 shares (2,023 and 2,335 shares). These awards show an acquisition at $0 per share (non-cash compensation).
• Separately, on Feb 14, 2026 Kallsen had 351 shares disposed at $22.01 per share (proceeds ~$7,726). That disposition is reported as tax withholding (code F), commonly used to satisfy tax liabilities on vesting awards rather than an open-market sale.

Key Details

• Transaction dates and amounts:
  • 2026-02-14: 351 shares disposed via tax withholding at $22.01 — $7,726 total (code F).
  • 2026-02-25: 2,023 shares granted (code A) at $0.00.
  • 2026-02-25: 2,335 shares granted (code A) at $0.00.
• Shares owned following the reported transactions: not specified in the provided summary.
• Footnotes on vesting:
  • F1: One award is restricted stock with 3-year vesting (1/3 each year).
  • F2: The other award is restricted stock with 3-year cliff vesting.
• Filing timeliness: Report filed 2026-02-27 for transactions dated Feb 14 and Feb 25 (filed late relative to the usual 2-business-day Form 4 window). Late filing reduces timely transparency but does not by itself indicate wrongdoing.

Context

• These were restricted stock awards (A = award/acquisition), not open-market purchases. Restricted stock is compensation that vests over time; the awards carry no upfront cash cost to the insider.
• The 351-share disposition is a tax-withholding event (F), meaning shares were surrendered to cover tax obligations due on vested awards — this is routine and not the same as an intentional sale for investment reasons.
• For retail investors, new restricted awards are a form of insider compensation and may be viewed as alignment with shareholder interests over the vesting period, while the small withholding disposition is administrative.