SEC Form 4 · accession 0001178409-16-000005
TIDELANDS BANCSHARES INC · TDBK
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Milon C Smith
Officer — EVP
Period of report
Jul 1, 2016
Accepted (ET)
Jul 5, 2016 · 11:28 am EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001178409
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Jul 1, 2016 | D | 4,800 | $0.52 | D | 0 | D | |
| Common StockF2,F1 | Jul 1, 2016 | D | 13,322 | $0.52 | D | 0 | I | By ESOP |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Disposed of pursuant to that certain Agreement and Plan of Merger dated as of April 4, 2016, as amended, between Tidelands Bancshares, Inc. ("Tidelands") and United Community Banks, Inc. ("United"), pursuant to which Tidelands was merged with and into United. At the effective time of the merger, each share of Tidelands common stock was cancelled and converted into the right to receive $0.52 in cash.
- F2Includes additional ESOP allocations of 96 shares since the date of the reporting person's last ownership report reflecting allocations for the year ended December 31, 2015.