SEC Form 4 · accession 0001520300-17-000010
ASB Bancorp Inc · ASBB
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Kirby A Tyndall
Officer — EVP & Chief Financial Officer
Period of report
Sep 8, 2017
Accepted (ET)
Sep 11, 2017 · 11:46 am EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001520300
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Sep 8, 2017 | M | 15,456 | $15.712 | A | 42,237 | D | |
| Common StockF1 | Sep 8, 2017 | F | 5,564 | $43.65 | D | 36,673 | D | |
| Common Stock | holding | — | — | — | 4,461 | I | by ESOP | |
| Common StockF2 | holding | — | — | — | 5,200 | I | Restricted Stock I |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (right to buy)F3 | $15.712 | holding | — | — | — | Feb 5, 2014 | Feb 5, 2023 | Common Stock | 25,544 | 25,544 | D |
Explanation of responses
- F1This transaction reflects the exercise of an Incentive Stock Option for a total of 15,456 shares by means of a stock swap. A stock swap is a method of exercising a stock option in which the option holder attests to the ownership of enough shares of stock already owned by the option holder to cover the exercise price of the option being exercised. As a result of this stock swap, the Reporting Person acquired ownership of an additional 9,892 shares of common stock.
- F2Shares of restricted stock vest in five equal annual installments beginning on February 5, 2014, the first anniversary of the date of the award.
- F3Stock options vest in five equal annual installments beginning on February 5, 2014, the first anniversary of the date of the grant.