SEC Form 4 · accession 0001140361-15-002442
FOUR OAKS FINCORP INC · FOFN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Roy Max Raynor Jr.
Director
Period of report
Jan 20, 2015
Accepted (ET)
Jan 22, 2015 · 12:10 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001040799
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Jan 20, 2015 | A | 25,000 | $0.00 | A | 231,770 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Shares vest 50% performance based and 50% time based. Performance-based restricted stock vests, subject to achievement of certain performance criteria, with respect to 7.5% of the award on December 31, 2015and with respect to 42.5% of the award on December 31, 2018. Time based restricted stock vests, subject to passage of time, with the grantee remaining on the board as of December 31, 2015(7.5% of the award) and as of December 31, 2018 (42.5% of the award).