Statement of Changes in Beneficial Ownership (4)
20 10월 2021 - 4:36AM
Edgar (US Regulatory)
FORM 4
[ ]
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
*
Tobin David Richard Jr |
2. Issuer Name and Ticker or Trading Symbol
SELECT BANCORP, INC.
[
SLCT
]
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Executive Vice President |
(Last)
(First)
(Middle)
700 W CUMBERLAND ST |
3. Date of Earliest Transaction
(MM/DD/YYYY)
10/15/2021 |
(Street)
DUNN, NC 28334
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
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6. Individual or Joint/Group Filing
(Check Applicable Line)
_X
_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1.Title of Security (Instr. 3)
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2. Trans. Date
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2A. Deemed Execution Date, if any
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3. Trans. Code (Instr. 8)
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4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)
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5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)
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6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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Amount
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(A) or (D)
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Price
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Common Stock | 10/15/2021 | | D | | 50 | D | (1) | 0 | D | |
Common Stock | 10/15/2021 | | D | | 650 | D | (1) | 0 | I | IRA account |
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Trans. Date | 3A. Deemed Execution Date, if any | 4. Trans. Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) |
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
Options to purchase common stock | $10.15 | 10/15/2021 | | D | | | 2700 | (2) | 1/24/2027 | common stock | 2700 | $0 | 0 | D | |
Options to purchase common stock | $11.84 | 10/15/2021 | | D | | | 7500 | (2) | 1/22/2029 | common stock | 7500 | $0 | 0 | D | |
Options to Purchase Common Stock | $11.84 | 10/15/2021 | | D | | | 5000 | (2) | 1/21/2030 | Common Stock | 5000 | $0 | 0 | D | |
Options to Purchase Common Stock | $9.41 | 10/15/2021 | | D | | | 3500 | (2) | 1/26/2031 | Common Stock | 3500 | $0 | 0 | D | |
Explanation of Responses: |
(1) | 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. |
(2) | 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. |
Reporting Owners
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Reporting Owner Name / Address | Relationships |
Director | 10% Owner | Officer | Other |
Tobin David Richard Jr 700 W CUMBERLAND ST DUNN, NC 28334 |
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| Executive Vice President |
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Signatures
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/s/David Richard Tobin Jr. | | 10/19/2021 |
**Signature of Reporting Person | Date |
Select Bancorp (NASDAQ:SLCT)
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