SEC Form 4 · accession 0001140361-16-070996
Monarch Financial Holdings, Inc. · MNRK
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Andrew N Lock
Officer — EVP/CRO
Period of report
Jun 24, 2016
Accepted (ET)
Jun 28, 2016 · 1:43 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001364856
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Jun 24, 2016 | D | 53,450 | — | D | 0 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Effective June 24, 2016, Monarch Financial Holdings, Inc. (the "Company") merged with and into TowneBank, with TowneBank as the surviving company, pursuant to an Agreement and Plan of Reorganization, dated as of December 16, 2015, by and among the Company, Monarch Bank and TowneBank (the "Merger"). In the Merger, each share of the Company's common stock converted into 0.8830 shares of TowneBank common stock. The closing price of TowneBank's common stock on June 24, 2016 was $21.21 per share.