James B. Schwiers - May 14, 2021 Form 3 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
May 14, 2021
Transactions value $
$0
Form type
3
Date filed
5/14/2021, 04:33 PM
Next filing
Sep 1, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding GRRB Common Stock 82.7K May 14, 2021 Direct
holding GRRB Preferred Stock Series A 3.15K May 14, 2021 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
holding GRRB Employee Stock Option May 14, 2021 Common Stock 58.3K $14.00 Direct F1
holding GRRB Employee Stock Option May 14, 2021 Common Stock 50K $16.55 Direct F2
* 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, or will vest, subject to conditions, and become 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.

Remarks:

Exhibit Index: Exhibit 24.1, Power of Attorney.