Sharon Lamb Raynor - 15 Oct 2021 Form 4 Insider Report for SELECT BANCORP, INC.

Reporting relationship: Director
Issuer ticker: N/A
Reported as of: 15 Oct 2021
Net transaction value: $0
SEC form: 4
Accepted by SEC: 19 Oct 2021, 15:22:04 UTC
Prior SEC filing: 13 Oct 2021
Source filing: View source filing
Reporting owner signature: /s/ Sharon Lamb Raynor

Key filing fact

Sharon Lamb Raynor filed Form 4 for SELECT BANCORP, INC. on 19 Oct 2021.

Key facts

This page summarizes Sharon Lamb Raynor's Form 4 filing for SELECT BANCORP, INC..
5 reported transactions and 2 derivative rows are listed below.
Accepted by SEC: 19 Oct 2021, 15:22.

Change

Previous filing in this sequence was filed on 13 Oct 2021.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

SLCT transaction

Common Stock

Disposed to Issuer

Transaction value
Shares: -11,608
Change %: -100%
Price
Shares after: 0
Date: 15 Oct 2021
Ownership: Direct
Footnotes: F1

SLCT transaction

Common Stock

Disposed to Issuer

Transaction value
Shares: -72,958
Change %: -100%
Price
Shares after: 0
Date: 15 Oct 2021
Ownership: Jointly with Husband
Footnotes: F1

SLCT transaction

Common Stock

Disposed to Issuer

Transaction value
Shares: -180,094
Change %: -100%
Price
Shares after: 0
Date: 15 Oct 2021
Ownership: By Husband
Footnotes: F1

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

SLCT transaction Derivative

Right to Acquire Common Stock

Disposed to Issuer

Transaction value: $0
Shares: -1,592
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 15 Oct 2021
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 1,592
Exercise price
Footnotes: F2

SLCT transaction Derivative

Options to Purchase Common Stock

Disposed to Issuer

Transaction value: $0
Shares: -1,400
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 15 Oct 2021
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 1,400
Exercise price: $11.27
Footnotes: F3

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 3 footnotes

Footnote F1

Disposed of pursuant to the Agreement and Plan of Merger and Reorganization, dated as of June 1, 2021 (the Merger Agreement), by and between First Bancorp and Select Bancorp, Inc., pursuant to which Select Bancorp, Inc., was merged with and into First Bancorp, effective October 15, 2021 (the Merger). Pursuant to the Merger Agreement, at the effective date of the Merger, each issued and outstanding share of Select Bancorp, Inc. common stock was converted into the right to receive 0.408 of a share of First Bancorp common stock (subject to the payment of cash in lieu of fractional shares). As a result of the Merger the reporting person no longer beneficially owns, directly or indirectly any shares of Select Bancorp, Inc. common stock.

Footnote F2

Represents the right to receive shares of Select Bancorp, Inc. common stock under Select's Amended and Restated Directors' Deferral Plan (the Deferral Plan). The Deferral Plan was terminated as of the effective date of the Merger. Each share in the Deferral Plan represents the right to receive 0.408 of a share of First Bancorp common stock.

Footnote F3

Upon the closing of the Merger, each outstanding and unexercised option to purchase shares of Select Bancorp, Inc. common stock, whether or not previously vested, was cancelled in exchange for a cash payment of $18.00 minus the exercise price of each share of Select Bancorp, Inc. common stock subject to such stock option.