4//SEC Filing
Miller Stephen P 4
Accession 0001520300-17-000024
CIK 0001520300other
Filed
Oct 2, 8:00 PM ET
Accepted
Oct 3, 5:47 PM ET
Size
10.7 KB
Accession
0001520300-17-000024
Insider Transaction Report
Form 4
ASB Bancorp IncASBB
Miller Stephen P
Director
Transactions
- Disposition to Issuer
Common Stock
2017-10-01−9,000→ 0 total - Disposition to Issuer
Common Stock
2017-10-01−16,200→ 0 total - Disposition to Issuer
Stock Option (right to buy)
2017-10-01−3,800→ 0 totalExercise: $15.71From: 2014-02-05Exp: 2023-02-05→ Common Stock (3,800 underlying) - Disposition to Issuer
Common Stock
2017-10-01−17,500→ 0 total(indirect: By Trust)
Footnotes (2)
- [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]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 $99,514.40. 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.
Documents
Issuer
ASB Bancorp Inc
CIK 0001520300
Entity typeother
Related Parties
1- filerCIK 0001522678
Filing Metadata
- Form type
- 4
- Filed
- Oct 2, 8:00 PM ET
- Accepted
- Oct 3, 5:47 PM ET
- Size
- 10.7 KB