X0303 4 2009-09-09 0000705200 PAB BANKSHARES INC PABK 0001179818 KURRIE THOMPSON JR 3250 NORTH VALDOSTA ROAD VALDOSTA GA 31602 1 Common Stock 2009-09-09 4 C 0 43333 3.00 A 43333 I by PSP Common Stock 1315.1128 I ESPP Common Stock 2797 I IRA Common Stock Warrants (right to buy) 3.75 2009-09-09 4 P 0 10400 0 A 2009-09-09 2016-09-09 Common Stock 10400 10400 I by PSP Series A Convertible Preferred Stock 3.00 2009-09-09 4 P 0 130 1000.00 A Common Stock 43333 130 I by PSP Series A Convertible Preferred Stock 3.00 2009-09-09 4 C 0 130 0 D Common Stock 43333 0 I by PSP Non-qualified Stock Option (Right to Buy) 3.00 2019-04-28 Common Stock 50000 50000 D Non-qualified Stock Option (Right to Buy) 15.9314 1999-10-18 2009-10-18 Common Stock 10200 10200 D Non-qualified Stock Option (Right to Buy) 13.052 2005-01-01 2010-01-01 Common Stock 2040 2040 D Non-qualified Stock Option (Right to Buy) 9.1912 2006-01-01 2011-01-01 Common Stock 2040 2040 D Non-qualified Stock Option (Right to Buy) 9.8137 2007-01-01 2012-01-01 Common Stock 2040 2040 D Non-qualified Stock Option (Right to Buy) 7.9412 2008-01-01 2013-01-01 Common Stock 2040 2040 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 are purchased with 50% company match funds. These are performance based options and will vest as follows : 5,000 shares will vest when the trading price of the Company's stock reaches $4.50 per share; 5,000 shares will vest when the trading price reaches $6.00 per share; 10,000 shares will vest when the trading price reaches $9.00 per share and 30,000 shares will vest when the trading price reaches $12.00 per share. /s/ Thompson Kurrie, Jr. 2009-09-11