0001140361-20-000157.txt : 20200103 0001140361-20-000157.hdr.sgml : 20200103 20200103141115 ACCESSION NUMBER: 0001140361-20-000157 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20191231 FILED AS OF DATE: 20200103 DATE AS OF CHANGE: 20200103 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Ocheltree Jerry L CENTRAL INDEX KEY: 0001339019 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-55683 FILM NUMBER: 20504535 MAIL ADDRESS: STREET 1: 901 EAST MAIN STREET CITY: LINCOLNTON STATE: NC ZIP: 28092 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: Carolina Trust BancShares, Inc. CENTRAL INDEX KEY: 0001676667 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 812019652 STATE OF INCORPORATION: NC FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 901 EAST MAIN STREET CITY: LINCOLNTON STATE: NC ZIP: 28092 BUSINESS PHONE: 740-735-1104 MAIL ADDRESS: STREET 1: 901 EAST MAIN STREET CITY: LINCOLNTON STATE: NC ZIP: 28092 4 1 form4.xml FORM 4 X0306 4 2019-12-31 true 0001676667 Carolina Trust BancShares, Inc. CART 0001339019 Ocheltree Jerry L 901 EAST MAIN STREET LINCOLNTON NC 28092 true true President & CEO Common Stock 2019-12-31 4 D 0 32912 D 0 D Option to purchase Common Stock 3.31 2019-12-31 4 D 0 35000 D 2024-01-01 Common Stock 35000 0 D Option to purchase Common Stock 4.91 2019-12-31 4 D 0 8000 D 2024-08-18 Common Stock 8000 0 D Option to purchase Common Stock 5.39 2019-12-31 4 D 0 1166 D 2025-04-27 Common Stock 1166 0 D Disposed of pursuant to the Agreement and Plan of Merger and Reorganization, dated as of July 15, 2019 (the "Merger Agreement"), by and between Carolina Financial Corporation and Carolina Trust BancShares, Inc., pursuant to which Carolina Trust BancShares, Inc. was merged with and into Carolina Financial Corporation, effective December 31, 2019 (the "Merger"). Pursuant to the Merger Agreement, at the effective date of the Merger, each issued and outstanding share of Carolina Trust BancShares, Inc. common stock was converted into the right to receive either $10.57 in cash or 0.3000 shares of Carolina Financial Corporation 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 Carolina Trust BancShares, Inc. common stock. On December 31, 2019, pursuant to the Merger Agreement, at the effective time of the Merger, each stock option was converted into the right to acquire shares of Carolina Financial Corporation common stock, as adjusted to reflect the exchange ratio of 0.3000. /s/ Jonathan A. Greene, by Power of Attorney 2020-01-03