Hawk Alicia Speight 4
4 · SELECT BANCORP, INC. · Filed Oct 19, 2021
Insider Transaction Report
Form 4
Hawk Alicia Speight
Director
Transactions
- Disposition to Issuer
Common Stock
2021-10-15−14,742→ 0 total - Disposition to Issuer
Common Stock
2021-10-15−3,078→ 0 total(indirect: By Children) - Disposition to Issuer
Options to Purchase Common Stock
2021-10-15−2,560→ 0 totalExercise: $11.27Exp: 2027-09-06→ Common Stock (2,560 underlying) - Disposition to Issuer
Common Stock
2021-10-15−25,088→ 0 total(indirect: By Spouse)
Footnotes (2)
- [F1]Disposed of pursuant to the Agreement and Plan of Merger and Reorganization, dated as of June 1, 2021 (the Merger Agreement), by and between First Bancorp and Select Bancorp, Inc., pursuant to which Select Bancorp, Inc., was merged with and into First Bancorp, effective October 15, 2021 (the Merger). Pursuant to the Merger Agreement, at the effective date of the Merger, each issued and outstanding share of Select Bancorp, Inc. common stock was converted into the right to receive 0.408 of a share of First Bancorp common stock (subject to the payment of cash in lieu of fractional shares). As a result of the Merger the reporting person no longer beneficially owns, directly or indirectly any shares of Select Bancorp, Inc. common stock.
- [F2]Upon the closing of the Merger, each outstanding and unexercised option to purchase shares of Select Bancorp, Inc. common stock, whether or not previously vested, was cancelled in exchange for a cash payment of $18.00 minus the exercise price of each share of Select Bancorp, Inc. common stock subject to such stock option.