4//SEC Filing
Bailey Vikki D 4
Accession 0001520300-17-000016
CIK 0001520300other
Filed
Oct 2, 8:00 PM ET
Accepted
Oct 3, 4:06 PM ET
Size
12.9 KB
Accession
0001520300-17-000016
Insider Transaction Report
Form 4
ASB Bancorp IncASBB
Bailey Vikki D
EVP and Chief Retail Officer
Transactions
- Disposition to Issuer
Common Stock
2017-10-01−160.224→ 0 total(indirect: By 401(k)) - Disposition to Issuer
Common Stock
2017-10-01−16,286→ 0 total - Disposition to Issuer
Common Stock
2017-10-01−3,376→ 0 total(indirect: By ESOP) - Disposition to Issuer
Stock Option (right to buy)
2017-10-01−15,250→ 0 totalExercise: $15.71From: 2014-02-05Exp: 2023-02-05→ Common Stock (15,250 underlying) - Disposition to Issuer
Common Stock
2017-10-01−3,000→ 0 total
Footnotes (4)
- [F1]Disposed of pursuant to the Agreement and Plan of Merger and Reorganization, dated May 1, 2017, between First Bancorp ("FBNC") and the issuer, pursuant to which the issuer was merged with and into FBNC effective October 1, 2017 (the "Merger"). Pursuant to the Merger, each issued and outstanding share of issuer common stock was exchanged for the right to receive 1.44 shares of FBNC common stock or $41.90 in cash, subject to the total consideration in the Merger being 90% stock / 10% cash. As a result of the Merger, the reporting person no longer beneficially owns, directly or indirectly, any shares of issuer common stock.
- [F2]As of the date of this Form 4, the calculations related to the election and proration procedures set forth in the Merger Agreement have not been received by the Reporting Person. Accordingly, it is not possible at this time to determine the form of merger consideration to be received by the Reporting Person.
- [F3]Since the reporting person's last report, 4.0615 shares have been deducted.
- [F4]This option, which provided for the vesting in five equal annual installments beginning on February 5, 2014, the first anniversary of the date of the award, was cancelled in the Merger in exchange for a gross cash payment of $399,367.00. The cash payment was determined by multiplying (i) the number of shares of the issuer's common stock subject to such stock option (ii)$41.90 per share less the exercise price per share under such stock option, less applicable withholding taxes.
Documents
Issuer
ASB Bancorp Inc
CIK 0001520300
Entity typeother
Related Parties
1- filerCIK 0001563440
Filing Metadata
- Form type
- 4
- Filed
- Oct 2, 8:00 PM ET
- Accepted
- Oct 3, 4:06 PM ET
- Size
- 12.9 KB