SEC Form 4 · accession 0000870385-16-000031

CAROLINA FINANCIAL CORP · CARO

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Officer — EVP & Director · Director

Period of report

Jan 20, 2016

Accepted (ET)

Jan 22, 2016 · 3:12 pm EST

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0000870385

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I	Nature of ownership
COMMON STOCK^F3	Jan 20, 2016	A	1,132	$0.00	A	155,630	D
COMMON STOCK^F3	holding	—	—		—	4,924	I	BY SPOUSE

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
EMPLOYEE STOCK OPTION (RIGHT TO BUY)^F1	$16.56	Jan 20, 2016	A	9,229	A	—	Jan 20, 2026	COMMON STOCK	9,229	9,229	D
RESTRICTED STOCK UNITS^F2	—	Jan 20, 2016	A	3,110	A	—	Jan 20, 2026	COMMON STOCK	3,110	3,110	D

F1The stock option vests in three equal annual installments beginning on January 20, 2017.
F2Each restricted stock unit represents a contingent right to receive one share of common stock. The restricted stock units vest in one installment on December 31, 2017, subject to certain conditions related to CARO's EPS. In order to vest any portion of the restricted stock units, CARO must achieve certain EPS over the two-year period ending December 31, 2017. The participant can earn 50% of the restricted stock units upon CARO achieving a minimum diluted EPS threshold, and 100% of the restricted stock units upon achieving the target CARO diluted EPS threshold. Vested shares, if any, will be delivered to the reporting person by March 31, 2018.
F3On July 31, 2015, the Company paid a 20% stock dividend which has been accounted for in the total shares held on this Section 16 form.