0001520300-17-000017.txt : 20171003 0001520300-17-000017.hdr.sgml : 20171003 20171003162857 ACCESSION NUMBER: 0001520300-17-000017 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20171001 FILED AS OF DATE: 20171003 DATE AS OF CHANGE: 20171003 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: TYNDALL KIRBY A CENTRAL INDEX KEY: 0001210332 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-35279 FILM NUMBER: 171118268 MAIL ADDRESS: STREET 1: 11 CHURCH STREET CITY: ASHEVILLE STATE: NC ZIP: 28801 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: ASB Bancorp Inc CENTRAL INDEX KEY: 0001520300 STANDARD INDUSTRIAL CLASSIFICATION: SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035] IRS NUMBER: 453463413 STATE OF INCORPORATION: NC FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 11 CHURCH STREET CITY: ASHEVILLE STATE: NC ZIP: 28801 BUSINESS PHONE: 828-254-7411 MAIL ADDRESS: STREET 1: 11 CHURCH STREET CITY: ASHEVILLE STATE: NC ZIP: 28801 4 1 primary_doc.xml PRIMARY DOCUMENT X0306 4 2017-10-01 1 0001520300 ASB Bancorp Inc ASBB 0001210332 TYNDALL KIRBY A 8 BLUE DAMSEL COURT BILTMORE LAKE NC 28715 0 1 0 0 EVP & Chief Financial Officer Common Stock 2017-10-01 4 D 0 36673 D 0 D Common Stock 2017-10-01 4 D 0 4461 D 0 I by ESOP Common Stock 2017-10-01 4 D 0 5200 D 0 D Stock Option 15.712 2017-10-01 4 D 0 25544 D 2014-02-05 2023-02-05 Common Stock 25544 0 D Disposed of pursuant to the Agreement and Plan of Merger and Reorganization, dated May 1, 2017, between First Bancorp ("FBNC") and the issuer, pursuant to which the issuer was merged with and into FBNC effective October 1, 2017 (the "Merger"). Pursuant to the Merger, each issued and outstanding share of issuer common stock was exchanged for the right to receive 1.44 shares of FBNC common stock or $41.90 in cash, subject to the total consideration in the Merger being 90% stock / 10% cash. As a result of the Merger, the reporting person no longer beneficially owns, directly or indirectly, any shares of issuer common stock. This option, which provided for the vesting in five equal annual installments beginning on February 5, 2014, the first anniversary of the date of the award, was cancelled in the Merger in exchange for a gross cash payment of $668,946.27. The cash payment was determined by multiplying (i) the number of shares of the issuer's common stock subject to such stock option (ii)$41.90 per share less the exercise price per share under such stock option, less applicable withholding taxes. As of the date of this Form 4, the calculations related to the election and proration procedures set forth in the Merger Agreement have not been received by the Reporting Person. Accordingly, it is not possible at this time to determine the form of merger consideration to be received by the Reporting Person. Cindy E. Hamrick, Attorney-In-Fact 2017-10-03