0001140361-20-000151.txt : 20200103
0001140361-20-000151.hdr.sgml : 20200103
20200103140752
ACCESSION NUMBER: 0001140361-20-000151
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20191231
FILED AS OF DATE: 20200103
DATE AS OF CHANGE: 20200103
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Davis Scott C
CENTRAL INDEX KEY: 0001676853
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 000-55683
FILM NUMBER: 20504516
MAIL ADDRESS:
STREET 1: 901 EAST MAIN STREET
CITY: LINCOLNTON
STATE: NC
ZIP: 28092
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: Carolina Trust BancShares, Inc.
CENTRAL INDEX KEY: 0001676667
STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022]
IRS NUMBER: 812019652
STATE OF INCORPORATION: NC
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 901 EAST MAIN STREET
CITY: LINCOLNTON
STATE: NC
ZIP: 28092
BUSINESS PHONE: 740-735-1104
MAIL ADDRESS:
STREET 1: 901 EAST MAIN STREET
CITY: LINCOLNTON
STATE: NC
ZIP: 28092
4
1
form4.xml
FORM 4
X0306
4
2019-12-31
true
0001676667
Carolina Trust BancShares, Inc.
CART
0001676853
Davis Scott C
901 EAST MAIN STREET
LINCOLNTON
NC
28092
true
Common Stock
2019-12-31
4
D
0
36342
D
0
D
Common Stock
2019-12-31
4
D
0
732
D
0
I
By Wife
Option to purchase Common Stock
2.13
2019-12-31
4
D
0
1810
D
2022-03-20
Common Stock
1810
0
D
Disposed of pursuant to the Agreement and Plan of Merger and Reorganization, dated as of July 15, 2019 (the "Merger Agreement"), by and between Carolina Financial Corporation and Carolina Trust BancShares, Inc., pursuant to which Carolina Trust BancShares, Inc. was merged with and into Carolina Financial Corporation, effective December 31, 2019 (the "Merger"). Pursuant to the Merger Agreement, at the effective date of the Merger, each issued and outstanding share of Carolina Trust BancShares, Inc. common stock was converted into the right to receive either $10.57 in cash or 0.3000 shares of Carolina Financial Corporation common stock (subject to the payment of cash in lieu of fractional shares). As a result of the Merger, the Reporting Person no longer beneficially owns, directly or indirectly, any shares of Carolina Trust BancShares, Inc. common stock.
On December 31, 2019, pursuant to the Merger Agreement, at the effective time of the Merger, each stock option was converted into the right to acquire shares of Carolina Financial Corporation common stock, as adjusted to reflect the exchange ratio of 0.3000.
/s/ Jonathan A. Greene, by Power of Attorney
2020-01-03