X0203 3 2009-10-01 0 0000705200 PAB BANKSHARES INC PABK 0001473718 Kelly Judith S 3250 NORTH VALDOSTA ROAD VALDOSTA GA 31602 1 EVP/Operations Common Stock 12353 D Common Stock 1097.2449 I ESPP Incentive Stock Option (Right to Buy) 13.052 2005-01-01 2010-01-01 Common Stock 2040 D Incentive Stock Option (Right to Buy) 9.1912 2006-01-01 2011-01-01 Common Stock 2040 D Incentive Stock Option (Right to Buy) 10.3922 2006-09-26 2011-09-26 Common Stock 10432 D Incentive Stock Option (Right to Buy) 3.00 2011-09-29 2016-09-29 Common Stock 13800 D Non-qualified Stock Option (Right to Buy) 2.00 2011-09-29 2016-09-29 Common Stock 3500 D Shares are purchased with 50% company match funds. Stock Option (right to buy) granted pursuant to PAB Bankshares, Inc. 1999 Stock Option Plan. It is the inent 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 exception alternatives of Rule 16b-3, as amended August 15, 1996. This is an incentive stock option with a two year cliff vesting period and five year option period. This is a non-qualified grant with a two year cliff vesting period and a five year option period. Judith S. Kelly 2009-10-09