SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
LOWE ROBERT F

(Last) (First) (Middle)
110 SEQUOIA DR.

(Street)
LEXINGTON NC 27292

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
LSB BANCSHARES INC /NC/ [ LXBK ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
X Officer (give title below) X Other (specify below)
CEO CEO
3. Date of Earliest Transaction (Month/Day/Year)
06/23/2004
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 06/22/2004 S(1) 0.1205 D $16.0166 1,205 I by Mother-in-Law
Common Stock 61,340 D
Common Stock 6,078.7572 I Deferred Trust(2)
Common Stock 8,542.8508 I by Self IRA Trust
Common Stock 8,650 I by Spouse
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Incentive Stock Option (right to buy) $11.52 05/04/1996(3) 05/04/2006 Common Stock 5,937 5,937 D
Incentive Stock Option (right to buy) $13 05/24/1997 05/24/2006 Common Stock 3,750 3,750 D
Incentive Stock Option (right to buy) $13.55 05/21/2002(3) 05/21/2011 Common Stock 6,000 6,000 D
Incentive Stock Option (right to buy) $15.063 05/09/2001(3) 05/09/2010 Common Stock 5,228 5,228 D
Incentive Stock Option (right to buy) $15.2 05/21/1998(3) 05/21/2007 Common Stock 11,920 11,920 D
Incentive Stock Option (right to buy) $17.24 05/30/2003(3) 05/30/2012 Common Stock 6,160 6,160 D
Incentive Stock Option (right to buy) $18 12/09/2004(3) 12/09/2013 Common Stock 6,460 6,460 D
Incentive Stock Option (right to buy) $20 05/11/2000(3) 05/11/2009 Common Stock 5,562 5,562 D
Incentive Stock Option (right to buy) $20.75 06/09/1999(3) 06/09/2008 Common Stock 9,234 9,234 D
Non-Qualified Stock Option (right to buy) $11.52 05/04/1996(3) 05/04/2006 Common Stock 13,593 13,593 D
Non-Qualified Stock Option (right to buy) $13 05/24/1997(3) 05/24/2006 Common Stock 8,750 8,750 D
Non-Qualified Stock Option (right to buy) $13.55 05/20/2002(3) 05/21/2011 Common Stock 4,000 4,000 D
Non-Qualified Stock Option (right to buy) $15.063 05/09/2001(3) 05/09/2010 Common Stock 4,772 4,772 D
Non-Qualified Stock Option (right to buy) $15.2 05/21/1998(3) 05/21/2007 Common Stock 580 580 D
Non-Qualified Stock Option (right to buy) $17.24 05/30/2003(3) 05/30/2012 Common Stock 3,840 3,840 D
Non-Qualified Stock Option (right to buy) $18 12/09/2004(3) 12/09/2013 Common Stock 3,540 3,540 D
Non-Qualified Stock Option (right to buy) $20 05/11/2000(3) 05/11/2009 Common Stock 4,438 4,438 D
Non-Qualified Stock Option (right to buy) $20.75 06/09/1999(3) 06/09/2008 Common Stock 766 766 D
Explanation of Responses:
1. Terminated Dividend Reinvest for the referenced account. Fractional shares were liquidated.
2. Shares held in trust under the Company's deferred Compensation Plan for Directors.
3. The option vest in 5 equal annual installments beginning one year from the date of grant.
LOWE, ROBERT F. 06/23/2004
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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