0001140361-17-041010.txt : 20171103
0001140361-17-041010.hdr.sgml : 20171103
20171103171716
ACCESSION NUMBER: 0001140361-17-041010
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20171101
FILED AS OF DATE: 20171103
DATE AS OF CHANGE: 20171103
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Rabon Robert Gary
CENTRAL INDEX KEY: 0001547255
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 000-22787
FILM NUMBER: 171177478
MAIL ADDRESS:
STREET 1: 1805 MEADOW COURT
CITY: RALEIGH
STATE: NC
ZIP: 27615
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: FOUR OAKS FINCORP INC
CENTRAL INDEX KEY: 0001040799
STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022]
IRS NUMBER: 562028446
STATE OF INCORPORATION: NC
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 6114 US 301 SOUTH
CITY: FOUR OAKS
STATE: NC
ZIP: 27524
BUSINESS PHONE: 9199632177
MAIL ADDRESS:
STREET 1: 6114 US 301 SOUTH
STREET 2: P O BOX 309
CITY: FOUR OAKS
STATE: NC
ZIP: 27524
4
1
doc1.xml
FORM 4
X0306
4
2017-11-01
1
0001040799
FOUR OAKS FINCORP INC
FOFN
0001547255
Rabon Robert Gary
1805 MEADOW COURT
RALEIGH
NC
27615
1
0
0
0
Common Stock
2017-11-01
4
D
0
5600
D
0
D
On Nov 1, 2017, pursuant to that certain Agreement and Plan of Merger, dated as of June 26, 2017 (the "Merger Agreement"), by and among United Community Banks, Inc. ("United") and Four Oaks Fincorp, Inc. ("Four Oaks"), Four Oaks merged with and into United, with United surviving the merger (the "Merger"). Pursuant to the Merger Agreement, at the effective time of the Merger, each share of common stock, $1.00 par value per share, of Four Oaks issued and outstanding immediately prior to the effective time of the Merger (other than shares held by Four Oaks, United, or any Four Oaks shareholders seeking statutory appraisal rights) was converted into the right to receive 0.6178 shares of United common stock, $1.00 par value per share (subject to the payment of cash in lieu of fractional shares) and $1.90 in cash (collectively, the "Merger Consideration"). As a result of the Merger, the reporting person no longer beneficially owns directly or indirectly any shares of Four Oaks common stock.
Pursuant to the Merger Agreement, at the effective time of the Merger, each outstanding award of shares of Four Oaks common stock subject to vesting, repurchase or other lapse restriction ("Four Oaks Restricted Share Award") granted pursuant to Four Oaks' equity-based compensation plans, whether vested or unvested, that was outstanding as of immediately prior to the effective time of the Merger, became fully vested and was cancelled and converted automatically into the right to receive the Merger Consideration in respect of each share of Four Oaks common stock underlying such Four Oaks Restricted Share Award.
/s/ Wanda J. Blow, attorney-in fact
2017-11-03