0001638599-21-000787.txt : 20211019
0001638599-21-000787.hdr.sgml : 20211019
20211019154306
ACCESSION NUMBER: 0001638599-21-000787
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20211015
FILED AS OF DATE: 20211019
DATE AS OF CHANGE: 20211019
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Jackson Ronald V
CENTRAL INDEX KEY: 0001545466
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 000-50400
FILM NUMBER: 211330816
MAIL ADDRESS:
STREET 1: C/O NEW CENTURY BANK,700 W CUMBERLAND ST
CITY: DUNN
STATE: NC
ZIP: 28334
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: SELECT BANCORP, INC.
CENTRAL INDEX KEY: 0001263762
STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022]
IRS NUMBER: 200218264
STATE OF INCORPORATION: NC
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: MARK A JEFFRIES
STREET 2: 700 WEST CUMBERLAND ST
CITY: DUNN
STATE: NC
ZIP: 283351988
BUSINESS PHONE: (910) 892-7080
MAIL ADDRESS:
STREET 1: MARK A JEFFRIES
STREET 2: 700 WEST CUMBERLAND ST
CITY: DUNN
STATE: NC
ZIP: 283351988
FORMER COMPANY:
FORMER CONFORMED NAME: NEW CENTURY BANCORP INC
DATE OF NAME CHANGE: 20030915
4
1
doc4_7379.xml
PRIMARY DOCUMENT
X0306
4
2021-10-15
0
0001263762
SELECT BANCORP, INC.
SLCT
0001545466
Jackson Ronald V
700 W CUMBERLAND ST
DUNN
NC
28334
1
0
0
0
Common Stock
2021-10-15
4
D
0
35857
D
0
I
Joint with spouse
Common Stock
2021-10-15
4
D
0
5813
D
0
D
Right to Acquire Common Stock
2021-10-15
4
D
0
1592
0
D
Common Stock
1592
0
D
Options to Purchase Common Stock
11.27
2021-10-15
4
D
0
7000
0
D
2027-09-07
Common Stock
7000
0
D
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.
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.
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.
/s/ Ronald V. Jackson
2021-10-19