SEC Form 4 · accession 0001140361-17-040999
FOUR OAKS FINCORP INC · FOFN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Kenneth R Lehman
Director · 10% Owner
Period of report
Nov 1, 2017
Accepted (ET)
Nov 3, 2017 · 5:08 pm EDT
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 | Nov 1, 2017 | D | 3,200,000 | — | D | 0 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1On November 1, 2017, pursuant to that certain Agreement and Plan of Merger, dated as of June 26, 2017 (the "Merger Agreement"), by and among United Community Banks, Inc. ("United") and Four Oaks Fincorp, Inc. ("Four Oaks"), Four Oaks merged with and into United, with United surviving the merger (the "Merger"). Pursuant to the Merger Agreement, at the effective time of the Merger, each share of common stock, $1.00 par value per share, of Four Oaks issued and outstanding immediately prior to the effective time of the Merger (other than shares held by Four Oaks, United, or any Four Oaks shareholders seeking statutory appraisal rights) was converted into the right to receive 0.6178 shares of United common stock, $1.00 par value per share (subject to the payment of cash in lieu of fractional shares) and $1.90 in cash As a result of the Merger, the reporting person no longer beneficially owns directly or indirectly any shares of Four Oaks common stock.