Form 4: Carter Bankshares Director Reports Sale of Common Stock Under Pre-Arranged Plan

Kevin S. Bloomfield, a Director at Carter Bankshares, Inc., reported the sale of 1,629 shares of common stock at a price of $16.806 per share, executed under a Rule 10b5-1 trading plan.

Summary

• Kevin S. Bloomfield, a Director of Carter Bankshares, Inc. (CARE), reported a transaction involving the company's common stock.
• On June 12, 2025, Mr. Bloomfield disposed of 1,629 shares of common stock.
• The shares were sold at a price of $16.806 per share.
• Following this transaction, Mr. Bloomfield beneficially owns 16,418 shares of Carter Bankshares, Inc. common stock directly.
• The transaction was made pursuant to a contract, instruction, or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).
• An associated Power of Attorney, dated December 18, 2024, authorizes specific individuals to prepare and file Section 16 reports on behalf of Mr. Bloomfield.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. While an insider sale can sometimes be viewed negatively, the explicit mention of a Rule 10b5-1 plan indicates the transaction was pre-arranged and not based on new material non-public information, thereby mitigating any negative implications.

Positives

• The transaction was conducted under a Rule 10b5-1 trading plan, indicating it was pre-scheduled and not based on new, non-public information, which mitigates potential negative interpretations of an insider sale.

Negatives

• The sale of shares by a director reduces the overall insider ownership in the company, which some investors may view as a slight negative, although mitigated by the 10b5-1 plan.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.

Industry Context

This filing is a routine insider transaction report for a director of a bank holding company. It does not provide broader insights into the banking industry trends or competitive landscape, but rather reflects an individual's pre-planned stock activity.

Corporate Governance

Stakeholder Impact

• Shareholders: The sale represents a minor reduction in direct insider ownership, but its execution under a 10b5-1 plan suggests it is a routine financial management decision rather than a signal about the company's prospects.

Next Steps

• Kevin S. Bloomfield remains subject to Section 16 reporting obligations for his beneficial ownership in Carter Bankshares, Inc.

Key Dates

Recommendation

Keywords

Carter Bankshares, CARE, Form 4, Insider Trading, Stock Sale, Director, Kevin S. Bloomfield, Beneficial Ownership, SEC Filing, Rule 10b5-1