FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). |
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
CITIZENS SOUTH BANKING CORP [ CSBC ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 06/29/2011 | ||||||||||||||||||||||||||
4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
Code | V | Amount | (A) or (D) | Price | ||||||
Common Stock | 06/29/2011 | F | 578(1) | D | $4.14 | 15,697(1)(2)(3) | D | |||
Common Stock | 7,658(2) | I | By his 401(k) Plan | |||||||
Common Stock | 8,685(2) | I | By his ESOP |
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Stock Option (Right to Buy)(4) | $4.762(2) | (4) | 03/16/2019 | Common Stock | 211(2) | 211(2) | D | ||||||||
Stock Option (Right to Buy)(5) | $7.619(2) | (5) | 06/16/2018 | Common Stock | 21,000(2) | 21,000(2) | D | ||||||||
Stock Option (Right to Buy)(6) | $14.324(2) | 11/03/2003 | 11/03/2013 | Common Stock | 21,000(2) | 21,000(2) | D |
Explanation of Responses: |
1. Reflects shares withheld to pay tax obligations on vesting of restricted stock. |
2. Reflects adjustment for stock split distributed on November 15, 2010. |
3. Includes the remaining shares from a total of 29,925 Restricted Stock Awards, composed of the remaining 11,025 unvested shares from 15,750 Restricted Stock Awards that will vest over a five-year period, commencing on June 16, 2008, the date of the award, at the rate of 10% on June 16, 2009, 10% on June 16, 2010, 10% on June 16, 2011, 35% on June 16, 2012, and 35% on June 16, 2013; and the remaining 3,675 unvested shares from 3,675 Recognition and Retention Plan awards that will cliff vest on January 22, 2012, five years after the date of the award; and includes 10,500 Recognition and Retention Plan shares awarded on November 3, 2003, that fully vested on November 3, 2010. Accordingly, 15,225 shares have vested and 14,700 shares have not vested. |
4. This incentive stock option vests in five equal annual installments, with the first installment vesting one year from the date of the award, or on March 16, 2010, and continuing each anniversary thereafter through March 16, 2014. |
5. This incentive stock option vests in five equal annual installments, with the first installment vesting one year from the date of the award, or on June 16, 2009, and continuing each anniversary thereafter through June 16, 2013. |
6. This incentive stock option has vested. Accordingly, 33,684 incentive stock options have vested and 8,527 incentive stock options have not vested. |
Remarks: |
/s/ Daniel Marcus Boyd, IV | 06/29/2011 | |
** Signature of Reporting Person | Date | |
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v). | ||
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. |