X0303 4 2009-09-09 0000705200 PAB BANKSHARES INC PABK 0001435425 Godbee James Wendell Jr. 3250 NORTH VALDOSTA ROAD VALDOSTA GA 31602 1 Common Stock 2009-09-09 4 C 0 33333 3.00 A 33333 I 401(k) Plan Common Stock 1848.1665 I Espp Common Stock 2500 I IRA Common Stock Warrants (right to buy) 3.75 2009-09-09 4 P 0 8000 0 A 2009-09-09 2016-09-09 Common Stock 8000 8000 I 401(k) Plan Series A Convertible Preferred Stock 3.00 2009-09-09 4 P 0 100 1000.00 A Common Stock 33333 100 I 401(k) Plan Series A Convertible Preferred Stock 3.00 2009-09-09 4 C 0 100 0 D Common Stock 33333 0 I 401(k) Plan Incentive Stock Option (Right to Buy) 8.5784 2018-06-24 Common Stock 1361 1361 D Non-qualified Stock Option (Right to Buy) 4.90 2019-01-02 Common Stock 2000 2000 D The series A and series B convertible preferred stock is immediately convertible at any time at a conversion price of $3.00 and has no expiration date. All of the shares were converted to common stock on 9/9/09. Shares purchased with 50% company match funds. The option becomes available in five equal installments, commencing one year after the date of grant. Stock Option (right to buy) granted pursuant to PAB Bankshares, Inc. 1999 Stock Option Plan. It is the intent of the company that any option award granted under the plan satisfy and be interpreted in a manner that satisfies the applicable requirements of Rule 16b-3, so that any person subject to Section 16 of the Securities Act of 1933 will be entitled to the benefits of Rule 16b-3 or other exemptive rules under Section 16 of the Act and will be subjected to liability thereunder. Options and awards granted under this plan to persons subject to Section 16, are approved by the full board of Directors of PAB Bankshares, Inc., in compliance with the exemption aternatives of Rule 16b-3, as amended August 15, 1996. /s/ James Wendell Godbee, Jr. 2009-09-11