Form 4: Carter Bankshares Director Gifts Shares to Son
Insider Transaction Report
Carter Bankshares Director Elizabeth L. Walsh reported gifting 950 shares of common stock to her son, effective December 16, 2025.
Summary
- Elizabeth L. Walsh, a Director of Carter Bankshares, Inc. (CARE), reported a disposition of 950 shares of common stock.
- The transaction, coded as a gift (G), occurred on December 16, 2025, with a price of $0 per share.
- The shares were gifted to her 21-year-old son, who will be independent from her for tax purposes in 2025 for the first time.
- Following this transaction, Ms. Walsh will directly own 54,111 shares of common stock.
- She also holds indirect beneficial ownership of 4,769 shares through Carriage Square, 367,771 shares through EASG, LLC, and 16,000 shares through Lester Family Holdings.
- A Power of Attorney, dated December 18, 2024, was granted by Elizabeth L. Walsh to several attorneys-in-fact to prepare and file Section 16 reports with the SEC on her behalf.
Sentiment
Score: 5
Explanation: The transaction is a gift of shares by a director, which is a neutral event for the company's operational performance and financial outlook. It represents a change in beneficial ownership for estate planning or personal reasons rather than a market-driven sale or purchase.
Future Outlook
The filing does not contain any forward-looking statements or guidance regarding the company's financial performance or strategic direction.
Industry Context
This filing details a routine insider transaction (a gift of shares) by a director, which is a common occurrence in publicly traded companies and typically does not reflect broader industry trends or competitive positioning.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Establishment of Authority | Elizabeth L. Walsh, a director, officer, and/or shareholder, granted a Power of Attorney to Abigail E. McGuire, Lisa J. Correll, K. Jill Milner, and Jessica R. Sikes. This authorizes them to prepare, execute, and file Section 16 reports with the SEC on her behalf. | 12/18/2024 | This streamlines the process for the director to comply with SEC reporting requirements for insider transactions, ensuring timely and accurate filings. |
Related Party Transactions
- Elizabeth L. Walsh gifted 950 shares of common stock to her son, who is a related party.
Stakeholder Impact
- Shareholders: Minimal direct impact as the transaction is a small, non-market gift by an insider and does not reflect on the company's operational performance or valuation.
- Employees, Customers, Suppliers, Creditors: No discernible direct impact from this insider transaction.
Key Dates
| Date | Description |
|---|---|
| 12/18/2024 | Date Elizabeth L. Walsh executed a Power of Attorney authorizing attorneys-in-fact to handle her SEC Section 16 filings. |
| 12/16/2025 | Date of the reported gift transaction of 950 shares of common stock by Elizabeth L. Walsh to her son. |
Recommendation
holdThe filing details a routine insider gift transaction of a relatively small number of shares by a director. This type of transaction is typically for personal or estate planning purposes and does not provide new information that would warrant a change in investment recommendation regarding the company's fundamental value or future prospects. Therefore, a 'hold' recommendation is appropriate as the filing does not present a compelling reason to buy or sell.
Keywords
Carter Bankshares, CARE, Insider Transaction, Form 4, Director Shareholding, Stock Gift, Beneficial Ownership
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