4//SEC Filing
Park Sterling Corp 4
Accession 0001437749-16-023084
CIK 0001507277operating
Filed
Jan 4, 7:00 PM ET
Accepted
Jan 5, 2:21 PM ET
Size
8.4 KB
Accession
0001437749-16-023084
Insider Transaction Report
Form 4
GRAYSON GRANT S
Director
Transactions
- Award
Common Stock
2016-01-01+27,525→ 27,525 total - Award
Common Stock
2016-01-01+67,843→ 67,843 total(indirect: By IRA)
Footnotes (5)
- [F1]Represents shares of common stock of Park Sterling Corporation (the "Issuer") received in exchange for 49,951 shares of common stock of First Capital Bancorp, Inc. ("FCB") pursuant to the merger of FCB with and into the Issuer (the "Merger"), based on the assumption that an election was made to receive Issuer common stock with respect to 70% of the FCB common stock owned by the reporting person immediately prior to the effective time of the Merger. The exchange ratio in the Merger was 0.7748 shares of Issuer common stock for each share of FCB common stock, with fractional shares paid in cash. On December 31, 2015, the last trading day before the effective date of the merger, the closing price of the Issuer's common stock was $7.32, and the closing price of FCB's common stock was $5.56 per share.
- [F2]Represents shares of common stock of the Issuer received in exchange for 2,500 warrants to purchase shares of FCB common stock (the "Warrants") pursuant to the Merger, based on the assumption that an election was made to receive Issuer common stock with respect to 70% of the Warrants owned by the reporting person immediately prior to the effective time of the Merger. The exchange ratio for the Warrants was 0.24755 shares of Issuer common stock for each FCB Warrant, with fractional shares paid in cash.
- [F3]Represents shares of common stock of the Issuer received in exchange for 109,113 shares of common stock of FCB pursuant to the Merger, based on the assumption that an election was made to receive Issuer common stock with respect to 70% of the FCB common stock owned by the reporting person immediately prior to the effective time of the Merger.
- [F4]Represents shares of common stock of the Issuer received in exchange for 50,000 Warrants of FCB pursuant to the Merger, based on the owned by the reporting person immediately prior to the effective time of the Merger.
- [F5]The proration and allocation calculations provided for in the Agreement and Plan of Merger dated September 30, 2015 between FCB and the Issuer (the "Merger Agreement") have not been completed as of the date of this report. Accordingly, it is not possible to determine the exact number of shares of Issuer common stock to be received. Once the exact number of shares is determined, Mr. Grayson will file an ammendment to this report including the number of shares of Issuer common stock received as merger consideration, if different than the number reported above.
Documents
Issuer
Park Sterling Corp
CIK 0001507277
Entity typeoperating
IncorporatedNC
Related Parties
1- filerCIK 0001507277
Filing Metadata
- Form type
- 4
- Filed
- Jan 4, 7:00 PM ET
- Accepted
- Jan 5, 2:21 PM ET
- Size
- 8.4 KB