X0303 4/A 2009-09-09 2009-09-11 0000705200 PAB BANKSHARES INC PABK 0001179812 SCRUGGS F FERRELL SR 3250 NORTH VALDOSTA ROAD VALDOSTA GA 31602 1 Common Stock 2009-09-09 4 C 0 33333 3.00 A 77543 D Common Stock 2009-02-17 5 L 0 E 768.7379 3.9025 A 2611.8581 I ESPP Common Stock 16440 I By Spouse Common Stock 14619 I By Trust Common Stock 1118.3563 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 D Series A Convertible Preferred Stock 3.00 2009-09-09 4 C 0 100 0 D Common Stock 33333 0 D Series A Convertible Preferred Stock 3.00 2009-09-09 4 P 0 100 1000.00 A Common Stock 33333 100 D Non-qualified Stock Option (Right to Buy) 15.9314 2009-10-18 Common Stock 10200 10200 D Non-qualified Stock Option (Right to Buy) 13.052 2010-01-01 Common Stock 2040 2040 D Non-qualified Stock Option (Right to Buy) 9.1912 2011-01-01 Common Stock 2040 2040 D Non-qualified Stock Option (Right to Buy) 9.8137 2012-01-01 Common Stock 2040 2040 D Non-qualified Stock Option (Right to Buy) 7.9412 2013-01-01 Common Stock 2040 2040 D Non-qualified Stock Option (Right to Buy) 15.2353 2014-01-01 Common Stock 2040 2040 D Non-qualified Stock Option (Right to Buy) 12.8529 2015-01-01 Common Stock 2040 2040 D Non-qualified Stock Option (Right to Buy) 18.1373 2016-01-03 Common Stock 2040 2040 D Non-qualified Stock Option (Right to Buy) 20.902 2017-01-02 Common Stock 2040 2040 D Non-qualified Stock Option (Right to Buy) 12.1373 2018-01-02 Common Stock 2040 2040 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. 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. The option becomes available in five equal installments, commencing one year after the date of grant. The option becomes exercisable effective date of grant. The reporting person disclaims beneficial ownership of all securities held by spouse, and the report should not be deemed as an admission that the reporting person is the beneficial owner of such securities for purpose of Section 16 or any other purpose. The reporting person disclaims beneficial ownership of securities purusant to Rule 16a-1(a)(4). This report shall not be deemed an admission that the reporting person is, for purposes of Section 16 or otherwise, the beneficial owner of such securities. /s/ F. Ferrell Scruggs, Sr. 2009-09-11