SEC Form 4 · accession 0001209191-15-062674
Bank of the Carolinas CORP · BCAR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Stephen R Talbert
Officer — President and CEO · Director
Period of report
Jul 24, 2015
Accepted (ET)
Jul 28, 2015 · 4:42 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001365997
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Jul 24, 2015 | S | 1,326 | $0.1345 | D | 0 | I | By retirement plan |
| Common Stock | holding | — | — | — | 1,036,970 | D | ||
| Common Stock | holding | — | — | — | 1,323 | I | By spouse | |
| Common Stock | holding | — | — | — | 637 | I | By adult daughter |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Bank of the Carolinas Corporation (the "Company") entered into an Agreement and Plan of Merger and Reorganization dated as of May 6, 2015 (the "Merger Agreement"), with Bank of the Ozarks, Inc. ("Ozarks"). The Merger Agreement provides that the Company will merge with and into Ozarks, with Ozarks continuing as the surviving corporation. The Company is terminating its 401(k) plan in connection with the merger. In anticipation of the termination of the Company's 401(k) plan, all shares of the Company's common stock held for the benefit of participants in the 401(k) plan are being sold. This form is being filed to report the sale of shares of the Company's common stock held for the benefit of the reporting person in the Company's 401(k) plan.