Form 4: Carter Bankshares CEO Reports Routine Share Disposition
Insider Transaction Report
Carter Bankshares CEO Litz Van Dyke reported the disposition of 819 common shares at $20.98, reducing direct beneficial ownership to 67,467 shares.
Summary
- Litz H. Van Dyke, Chief Executive Officer and Director of Carter Bankshares, Inc. (CARE), reported a transaction involving the company's common stock.
- On March 4, 2026, 819 shares of common stock were disposed of at a price of $20.98 per share.
- The transaction code 'F' indicates this was a payment of exercise price or tax liability by delivering or withholding securities incident to the receipt, exercise, or vesting of a security.
- Following this transaction, Van Dyke directly beneficially owns 67,467 shares of Carter Bankshares, Inc. common stock.
- The transaction was made pursuant to a contract, instruction, or written plan for the purchase or sale of equity securities of the issuer, intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).
- A Power of Attorney was granted on December 18, 2024, to several individuals, including Jessica R. Sikes, to prepare, execute, and submit SEC Section 16 filings on behalf of Litz Van Dyke.
Sentiment
Score: 5
Explanation: StockSavvy.ai views this as a neutral event. The transaction is a routine disposition for tax purposes, pre-planned under Rule 10b5-1, and therefore carries no significant positive or negative sentiment regarding the company's prospects.
Future Outlook
This filing, a Form 4, does not contain any forward-looking statements or guidance regarding the company's future performance.
Industry Context
StockSavvy.ai notes that insider transactions, such as this disposition by a CEO, are routine disclosures required by the SEC. While this specific transaction is for tax liability and pre-planned under Rule 10b5-1, investors often monitor insider buying and selling for signals regarding management's confidence in the company's future performance relative to its peers in the banking sector.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Power of Attorney Grant | Litz Van Dyke granted a Power of Attorney to several individuals to prepare, execute, and file Section 16 reports with the SEC on their behalf. | 12/18/2024 | Streamlines compliance with Section 16 reporting requirements for the CEO and Director, ensuring timely and accurate filings. |
Stakeholder Impact
- Shareholders: Provides transparency regarding insider ownership changes, though this specific transaction is routine and unlikely to signal significant operational changes.
Key Dates
| Date | Description |
|---|---|
| 12/18/2024 | Litz Van Dyke granted Power of Attorney for SEC Section 16 filings. |
| 03/04/2026 | Transaction date for the disposition of 819 common shares. |
| 03/13/2026 | Signature date of the Form 4 filing. |
Keywords
Carter Bankshares, CARE, Litz Van Dyke, SEC Form 4, Insider Transaction, Stock Disposition, CEO, Director, Common Stock, Beneficial Ownership, Rule 10b5-1
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