Form 4: Carter Bankshares Director Michael R. Bird Acquires Restricted Stock

Director Michael R. Bird of Carter Bankshares, Inc. acquired 1,827 shares of restricted stock on January 2, 2025, as part of a compensation plan.

Summary

• Michael R. Bird, a director at Carter Bankshares, Inc., acquired 1,827 shares of common stock on January 2, 2025.
• The shares were awarded as restricted stock with a one-year vesting period.
• The acquisition was made at a price of $0, indicating it was likely a grant or award.
• Following the transaction, Mr. Bird's total holdings increased to 14,774 shares.
• A power of attorney was granted to several individuals to handle SEC filings on Mr. Bird's behalf.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction of a director receiving a stock award, which is generally positive for aligning interests but not a major market-moving event.

Positives

• The acquisition of restricted stock aligns the director's interests with the company's performance.
• The grant of shares indicates a form of compensation and incentive for the director.

Industry Context

This is a standard SEC Form 4 filing related to a director's stock acquisition, which is common in the financial industry for aligning management and shareholder interests.

Comparison to Industry Standards

• Stock grants to directors are a common practice in the banking industry, often used as part of compensation packages.
• The vesting period of one year is also a typical timeframe for restricted stock awards.
• Comparable companies such as other regional banks often use similar stock-based compensation plans for their directors.

Stakeholder Impact

• The stock acquisition aligns the director's interests with those of shareholders.
• The vesting period encourages the director to focus on long-term value creation.

Key Dates

Keywords

Carter Bankshares, Michael R. Bird, restricted stock, director, SEC Form 4, beneficial ownership, stock award, vesting