Form 4: Carter Bankshares CEO Acquires Shares Through Restricted Stock Award

Litz H. Van Dyke, CEO of Carter Bankshares, acquired 5,442 shares of common stock through a restricted stock award on March 4, 2025.

Summary

• Litz H. Van Dyke, the CEO of Carter Bankshares, acquired 5,442 shares of common stock on March 4, 2025.
• The acquisition was through a restricted stock award.
• The shares were acquired at a price of $0.
• Following the transaction, Van Dyke directly owns 57,376 shares of Carter Bankshares.
• The restricted stock awards vest over 3 years, fully vesting on March 4, 2028.
• Van Dyke also granted power of attorney to Abigail E. McGuire, Lisa J. Correll, K. Jill Milner and Jessica R. Sikes to handle Section 16 filings.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine filing related to executive compensation. The CEO increasing their stake is generally a positive signal, but it's a restricted stock award, not an open market purchase.

Positives

• The CEO's acquisition of shares, even through a restricted stock award, can be seen as a positive sign of confidence in the company's future.

Future Outlook

The document does not contain specific forward-looking statements, but the vesting schedule of the restricted stock award extends to March 4, 2028.

Industry Context

Form 4 filings are routine disclosures required by the SEC when company insiders, like the CEO, trade their company's stock. This filing indicates an increase in the CEO's direct ownership of Carter Bankshares.

Comparison to Industry Standards

• Comparing Carter Bankshares to regional bank peers like First National Corporation or United Bankshares, similar Form 4 filings are common, reflecting stock awards or open market purchases by executives.
• The size of the stock award is typical for executive compensation packages in similar-sized financial institutions.

Stakeholder Impact

• The CEO's increased ownership stake could be viewed positively by shareholders.

Key Dates