Mason Y. Garrett - Dec 6, 2022 Form 4 Insider Report for GRANDSOUTH BANCORPORATION (GRRB)

Signature
/s/ Nelson Mullins Riley & Scarborough LLP as POA for Mason Y. Garrett
Stock symbol
GRRB
Transactions as of
Dec 6, 2022
Transactions value $
$0
Form type
4
Date filed
12/6/2022, 04:33 PM
Previous filing
Jul 22, 2022
Next filing
Jan 11, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GRRB Common Stock Other $0 -2.22K -100% $0.00* 0 Dec 6, 2022 Transfer to Child F1
transaction GRRB Common Stock Other $0 -61.5K -100% $0.00* 0 Dec 6, 2022 Transfer to Brother F2
holding GRRB Common Stock 348K Dec 6, 2022 Direct
holding GRRB Common Stock 13.3K Dec 6, 2022 By Self as Custodian for Grandchildren
holding GRRB Common Stock 175K Dec 6, 2022 By Spouse
holding GRRB Common Stock 61.5K Dec 6, 2022 By BMPBC, LLC Partnership
holding GRRB Common Stock 300K Dec 6, 2022 By Mason Y. Garrett Family, LP

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
holding GRRB Preferred Stock - Series A 9.2K Dec 6, 2022 Common Stock 9.2K Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Includes 2,223 shares formerly held by Mr. M. Garrett as custodian for his step-daughter. These shares were transferred to his step-daughter, who does not share his household.
F2 Includes 61,492 shares held by Mr. M. Garrett as custodian for his brother. These shares were transferred to his brother, who does not share his household.
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.