0000870385-20-000021.txt : 20200504
0000870385-20-000021.hdr.sgml : 20200504
20200504121203
ACCESSION NUMBER: 0000870385-20-000021
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20200501
FILED AS OF DATE: 20200504
DATE AS OF CHANGE: 20200504
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Rhyne Johnathan L Jr
CENTRAL INDEX KEY: 0001676637
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-10897
FILM NUMBER: 20843613
MAIL ADDRESS:
STREET 1: 901 EAST MAIN STREET
CITY: LINCOLNTON
STATE: NC
ZIP: 28092
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: CAROLINA FINANCIAL CORP
CENTRAL INDEX KEY: 0000870385
STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022]
IRS NUMBER: 571039673
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 288 MEETING STREET
CITY: CHARLESTON
STATE: SC
ZIP: 29401
BUSINESS PHONE: 843-723-7700
MAIL ADDRESS:
STREET 1: 288 MEETING STREET
CITY: CHARLESTON
STATE: SC
ZIP: 29401
4
1
primary_doc.xml
PRIMARY DOCUMENT
X0306
4
2020-05-01
1
0000870385
CAROLINA FINANCIAL CORP
CARO
0001676637
Rhyne Johnathan L Jr
901 EAST MAIN STREET
LINCOLNTON
NC
28092
1
0
0
0
Common Stock
2020-05-01
4
D
0
47561
D
0
D
Option to Purchase Common Stock
7.1
2020-05-01
4
D
0
1248
D
2022-03-20
Common Stock
1248
0
D
Disposed of in accordance with the Agreement and Plan of Merger, dated as of November 17, 2019 (the "Merger Agreement") by and between Carolina Financial Corporation and United Bancshares, Inc., pursuant to which Carolina Financial Corporation was merged with and into United Bancshares Inc., effective May 1, 2020 (the "Merger"). On May 1, 2020, the effective date of the Merger, each issued and outstanding share of Carolina Financial Corporation common stock was converted into the right to receive 1.13 shares of United Bancshares, Inc. common stock (subject to the payment of cash in lieu of fractional shares). As a result of the Merger, a Reporting Person no longer beneficially owns, directly or indirectly, any shares of Carolina Financial Corporation common stock.
Pursuant to the Merger Agreement, at the effective time of the Merger, each stock option not cashed out at the election of the reporting person, was converted into the right to acquire shares of United Bancshares, Inc. common stock, as adjusted to reflect the exchange ratio of 1.13.
/s/Johnathan L. Rhyne, Jr.
2020-05-04