4/A: Carter Bankshares Director Reports Sale of Shares in Amended SEC Filing
Insider Transaction Report Amendment
Kevin S. Bloomfield, a Director at Carter Bankshares, Inc., disclosed the sale of 1,000 shares of common stock at $16.5211 per share in an amended SEC Form 4 filing.
Summary
- Kevin S. Bloomfield, a Director of Carter Bankshares, Inc. (CARE), filed an amended Form 4 (Form 4/A) with the U.S. Securities and Exchange Commission.
- The filing reports the sale of 1,000 shares of Carter Bankshares Common Stock on June 6, 2025.
- The shares were sold at a price of $16.5211 per share.
- Following this transaction, Mr. Bloomfield directly beneficially owns 22,556 shares of Carter Bankshares Common Stock.
- The original Form 4 was filed on June 13, 2025, and this amendment was also filed on June 13, 2025.
- An accompanying exhibit (EX-24) details a Power of Attorney granted by Kevin S. Bloomfield on December 18, 2024, authorizing specific individuals to prepare and file Section 16 reports on his behalf.
Sentiment
Score: 5
Explanation: The sale of 1,000 shares by a director is a relatively small transaction and does not inherently indicate a strong positive or negative sentiment for the company's prospects. It could be for personal financial planning.
Negatives
- An insider sale, even of a relatively small quantity, can sometimes be perceived as a slight negative signal regarding management's confidence in the company's near-term prospects, although it could also be for personal liquidity or diversification purposes not disclosed in the filing.
Future Outlook
The document, an insider transaction report, does not provide any forward-looking statements or guidance regarding the company's future outlook.
Industry Context
This Form 4/A filing is specific to an insider transaction at Carter Bankshares, Inc., a financial institution, and does not provide broader industry context or trends. Insider transactions are common across all industries and reflect a routine compliance requirement for a director.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Power of Attorney Grant | Kevin S. Bloomfield granted a Power of Attorney to Abigail E. McGuire, Lisa J. Correll, K. Jill Milner, and Jessica R. Sikes to prepare, execute, and file Section 16 reports (e.g., Form 4) with the SEC on his behalf. | 2024-12-18 | This formal delegation of authority streamlines the process for Mr. Bloomfield to comply with SEC reporting requirements for insider transactions, enhancing administrative efficiency in corporate governance compliance. |
Related Party Transactions
- The reported transaction is an insider sale by a director, which is a type of related party transaction, but no other related party dealings are disclosed.
Stakeholder Impact
- Shareholders may note the director's sale, but given the small number of shares (1,000), the direct impact on shareholder sentiment or the company's operations is likely minimal. There is no direct impact on employees, customers, suppliers, or creditors mentioned.
Key Dates
| Date | Description |
|---|---|
| 2024-12-18 | Date Kevin S. Bloomfield granted Power of Attorney for SEC filings. |
| 2025-06-06 | Date of the reported sale of 1,000 shares of common stock. |
| 2025-06-13 | Date of the original Form 4 filing and the current amendment (Form 4/A). |
Keywords
Carter Bankshares, CARE, Kevin S. Bloomfield, Director, Insider Trading, Form 4, Stock Sale, Beneficial Ownership, SEC Filing, Corporate Governance
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