X0202 4 2006-05-24 0 0000705200 PAB BANKSHARES INC PABK 0001179808 DEWAR JAMES L JR 3250 NORTH VALDOSTA ROAD VALDOSTA GA 31602 1 0 1 0 Common Stock 2006-05-24 4 P 0 50 20.04 A 4908 I by Spouse Common Stock 342596 D Common Stock 500 I Spouse & Stepchild 1 Common Stock 500 I Spouse & Stepchild 2 Common Stock 1117026 I by Partnership Non-Qualified Stock Option (right to buy) 8.1 2013-01-01 Common Stock 2000 2000 D Non-Qualified Stock Option (right to buy) 9.375 2011-01-01 Common Stock 2000 2000 D Non-Qualified Stock Option (right to buy) 10.01 2012-01-01 Common Stock 2000 2000 D Non-Qualified Stock Option (right to buy) 13.11 2015-01-01 Common Stock 2000 2000 D Non-Qualified Stock Option (right to buy) 13.313 2010-01-01 Common Stock 2000 2000 D Non-Qualified Stock Option (right to buy) 15.54 2014-01-01 Common Stock 2000 2000 D Non-Qualified Stock Option (right to buy) 16.25 2009-10-18 Common Stock 10000 10000 D Non-Qualified Stock Option (right to buy) 18.5 2016-01-03 Common Stock 2000 2000 D 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 all securities held by spouse and stepchildren. 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 Includes 1,117,026 shares owned by the Dewar Family, L.P., a family trust. Mr. Dewar, Jr. is a general partner of the Dewar Family, L.P. and possesses shared investment power as to all shares owned by the limited partnership and the power to vote 563,354 shares owned by the limited partnership. 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. James L. Dewar, Jr. 2006-05-26