0001520300-17-000022.txt : 20171003
0001520300-17-000022.hdr.sgml : 20171003
20171003172637
ACCESSION NUMBER: 0001520300-17-000022
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: Stevens Wyatt S
CENTRAL INDEX KEY: 0001522671
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-35279
FILM NUMBER: 171119281
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
0001522671
Stevens Wyatt S
11 CHURCH STREET
ASHEVILLE
NC
28801
1
0
0
0
Common Stock
2017-10-01
4
D
0
4990
D
0
D
Common Stock
2017-10-01
4
D
0
5166.6534
D
0
I
By Deferred Compensation Plan
Common Stock
2017-10-01
4
D
0
3600
D
0
D
Stock Option (right to buy)
15.712
2017-10-01
4
D
0
19000
D
2014-02-05
2023-02-05
Common Stock
19000
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 $497,572.00. 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.
Cindy E. Hamrick, Attorney-In-Fact
2017-10-03