James B. Schwiers - Feb 14, 2022 Form 4 Insider Report for GRANDSOUTH BANCORPORATION (GRRB)

Role
President & COO, Director
Signature
/s/ Nelson Mullins Riley & Scarborough LLP as POA for James B. Schwiers
Stock symbol
GRRB
Transactions as of
Feb 14, 2022
Transactions value $
$338,254
Form type
4
Date filed
2/16/2022, 09:42 AM
Previous filing
Sep 1, 2021
Next filing
Feb 15, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GRRB Common Stock Options Exercise $338K +24.2K +36.51% $14.00 90.3K Feb 14, 2022 Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction GRRB Employee Stock Option (right to buy) Options Exercise $0 -24.2K -41.41% $0.00 34.2K Feb 14, 2022 Common Stock 24.2K $14.00 Direct F1
holding GRRB Employee Stock Option (right to buy) 50K Feb 14, 2022 Common Stock 50K $16.55 Direct F2
holding GRRB Preferred Stock - Series A 3.15K Feb 14, 2022 Common Stock 3.15K Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Granted pursuant to the 2009 Stock Option Plan. The shares subject to this option vested and became exercisable as follows: 20% on each June 21, 2017, 2018, 2019, 2020, and 2021
F2 Granted pursuant to the 2019 Stock Option Plan. The shares subject to this option vested and became exercisable, or will vest, subject to conditions, and become exercisable as follows: 20% on each June 21, 2020, 2021, 2022, 2023, and 2024.
F3 The Series A Preferred Stock is convertible upon a Change of Control (as defined in the Articles of Amendment designating the Series A Preferred) into a number of shares of the issuers common stock on a one-for-one basis and has no expiration date.