X0303 4 2009-10-20 0 0000706874 PALMETTO BANCSHARES INC n/a 0001313319 ERWIN SAMUEL L PO BOX 2086 ORANGEBURG SC 29116 1 1 0 0 Pres (Ho Co) Pres & CEO (Bank) Common Stock, $5 Par Value 2009-10-20 4 A 0 10000 21.95 A 10000 D 7,500 restricted stock shares granted 10/20/09 to vest in five annual installments on July 1 with first 1/5th vesting 7/1/2010. We determine the value of our common stock based on the last five trades of the stock faciliated by the Company. Mr. Erwin also assumed the role of CEO of Palmetto Bancshares, Inc. in January 2010. Lauren S. Greer, with POA, SVP, The Palmetto Bank, a wholly owned subsidiary of Palmetto Bancshares, Inc. 2010-04-20