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