X0303 4 2008-10-31 0 0000705200 PAB BANKSHARES INC PABK 0001207268 GODWIN MICHAEL H 3250 NORTH VALDOSTA ROAD VALDOSTA GA 31602 1 0 0 0 Common Stock 2008-10-31 4 P 0 1000 5.95 A 1000 D Common Stock 2008-02-12 5 L 0 212.4527 14.1208 A 1304.5609 I ESPP Common Stock 2008-02-12 5 L 0 11.2143 14.1208 A 1315.7752 I ESPP Common Stock 2008-05-05 5 L 0 13.8398 13.7854 A 1329.615 I ESPP Non-Qualified Stock Option (right to buy) 7.9412 2013-01-01 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) 12.8529 2015-01-01 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) 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 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. Michael H. Godwin 2008-11-03