0001403127-17-000002.txt : 20170802
0001403127-17-000002.hdr.sgml : 20170802
20170802094316
ACCESSION NUMBER: 0001403127-17-000002
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20170731
FILED AS OF DATE: 20170802
DATE AS OF CHANGE: 20170802
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: MCELVEEN WILLIAM JACK JR
CENTRAL INDEX KEY: 0001403127
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 000-26995
FILM NUMBER: 17998612
MAIL ADDRESS:
STREET 1: 108 SUMMER GATE COURT
CITY: LEXINGTON
STATE: SC
ZIP: 29072
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: HCSB FINANCIAL CORP
CENTRAL INDEX KEY: 0001091491
STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022]
IRS NUMBER: 571079444
STATE OF INCORPORATION: SC
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 5009 BROAD STREET
CITY: LORIS
STATE: SC
ZIP: 29569
BUSINESS PHONE: 8437566333
MAIL ADDRESS:
STREET 1: 5009 BROAD STREET
CITY: LORIS
STATE: SC
ZIP: 29569
4
1
primary_doc.xml
PRIMARY DOCUMENT
X0306
4
2017-07-31
0
0001091491
HCSB FINANCIAL CORP
HCFB
0001403127
MCELVEEN WILLIAM JACK JR
3640 RALPH ELLIS BLVD
LORIS
SC
29569
0
1
0
0
Chief Credit Officer
Common Stock
2017-07-31
4
D
0
1250000
D
0
D
Common Stock
2017-07-31
4
D
0
5000000
D
0
D
On July 31, 2017, pursuant to that certain Agreement and Plan of Merger, dated April 19, 2017 (the "Merger Agreement"), by and among United Community Banks, Inc. ("United") and HCSB Financial Corporation ("HCSB"), HCSB 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, $0.01 par value, of HCSB issued and outstanding immediately prior to the effective time of the Merger (other than shares held by HCSB, United, or any of their respective wholly owned subsidiaries) was converted into the right to receive 0.0050 shares of United common stock, $1.00 par value per share (subject to the payment of cash in lieu of fractional shares)(the "Merger Consideration"). As a result of the Merger, the reporting person no longer beneficially owns directly or indirectly any shares of HCSB common stock.
On July 31, 2017, pursuant to the Merger Agreement, at the effective time of the Merger, each outstanding award of shares of HCSB common stock, $0.01 par value, subject to vesting, repurchase or other lapse restriction (an "HCSB Restricted Share Award") granted pursuant to HCSB's 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 HCSB common stock underlying such HCSB Restricted Share Award. As a result of the Merger, the reporting person no longer beneficially owns directly or indirectly any HCSB Restricted Share Awards.
William Jack McElveen
2017-07-31