SEC Form 4 · accession 0001144204-15-013417
FIRST SOUTH BANCORP INC /VA/ · FSBK
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
J Randy Woodson
Officer — EVP - COO
Period of report
Feb 27, 2015
Accepted (ET)
Mar 2, 2015 · 6:30 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001027183
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Feb 27, 2015 | S | 14,677 | $7.87 | D | 0 | I | By 401(k) Plan |
| Common StockF1 | holding | — | — | — | 2,600 | D | ||
| Common Stock | holding | — | — | — | 3,064 | I | By IRA |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F12,600 shares of Restricted Stock were granted on 2/14/14. The shares vest and become earned in four equal annual installments of 650 shares each, beginning on 2/14/15.
- F2Reporting person made an unintentional mistake when rebalancing certain investments in his 401(k) account, when using an automated rebalancing tool. He inadvertently noted to liquidate shares of the Issuer's common stock as part of the automated rebalancing process. Reporting person did not realize such shares of the Issuer's common stock had been sold until after the transaction had occurred. Reporting person intends to repurchase all of the shares that were unintentionally sold in a timely manner.