Statement of Changes in Beneficial Ownership (4)
06 October 2021 - 8:10AM
Edgar (US Regulatory)
FORM 4
[ ]
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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3235-0287
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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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1. Name and Address of Reporting Person
*
Hedgepeth William L |
2. Issuer Name and Ticker or Trading Symbol
SELECT BANCORP, INC.
[
SLCT
]
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
President & CEO |
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(Last)
(First)
(Middle)
700 W CUMBERLAND ST |
3. Date of Earliest Transaction
(MM/DD/YYYY)
10/5/2021 |
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(Street)
DUNN, NC 28334
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
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6. Individual or Joint/Group Filing
(Check Applicable Line)
_X
_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1.Title of Security
(Instr. 3)
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2. Trans. Date
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2A. Deemed Execution Date, if any
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3. Trans. Code
(Instr. 8)
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4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
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5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
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6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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Amount
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(A) or (D)
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Price
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| common stock | 10/5/2021 | | M | | 35200 | A | (8) | 81167 | D | |
| common stock | | | | | | | | 18580 | I | Joint with spouse |
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security
(Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Trans. Date | 3A. Deemed Execution Date, if any | 4. Trans. 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 | 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 of Derivative Security: 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 |
| stock options | $8.04 | 10/5/2021 | | M | | | 15000 | (2) | 2/23/2026 | common stock | 15000 | $8.04 | 0 | D | |
| stock options | $6.93 | 10/5/2021 | | M | | | 15000 | (1) | 2/11/2025 | common stock | 15000 | $6.93 | 0 | D | |
| stock options | $10.15 | 10/5/2021 | | M | | | 5200 | (3) | 1/24/2027 | common stock | 6500 | $10.15 | 1300 | D | |
| Options to Purchase Common Stock | $11.27 | | | | | | | (4) | 9/6/2027 | common stock | 7000 | | 7000 | D | |
| Options to Purchase Common Stock | $11.84 | | | | | | | (5) | 1/22/2029 | common stock | 15000 | | 15000 | D | |
| Options to Purchase Common Stock | $11.84 | | | | | | | (6) | 1/21/2030 | Common Stock | 15000 | | 15000 | D | |
| Options to Purchase Common Stock | $9.41 | | | | | | | (7) | 1/26/2031 | Common Stock | 7500 | | 7500 | D | |
| Explanation of Responses: |
| (1) | The option vests in five equal annual installments beginning on February 11, 2016, subject to holder's continued employment. |
| (2) | The option vests in five equal annual installments beginning on February 23, 2017, subject to holder's continued employment. |
| (3) | The option vests in five equal annual installments beginning on January 24, 2018, subject to holder's continued employment. |
| (4) | The option vests in five equal annual installments beginning on September 6, 2018, subject to holder's continued employment. |
| (5) | The option vests in five equal annual installments beginning on January 22, 2020, subject to holder's continued employment. |
| (6) | The option vests in five equal annual installments beginning on January 21, 2021, subject to holder's continued employment. |
| (7) | The option vests in five equal annual installments beginning on January 26, 2022, subject to holder continued employment. |
| (8) | 15,000 @ $6.93; 15,000 @ $8.04; 5,200 @ $10.15 |
Reporting Owners
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| Reporting Owner Name / Address | Relationships |
| Director | 10% Owner | Officer | Other |
Hedgepeth William L
700 W CUMBERLAND ST
DUNN, NC 28334 | X |
| President & CEO |
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Signatures
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| /s/William L Hedgepeth | | 10/5/2021 |
| **Signature of Reporting Person | Date |
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