Form 4: Carter Bankshares Executive Acquires Restricted Stock Award

Matthew M. Speare, SEVP and Chief Operating Officer of Carter Bankshares, Inc., acquired 3,257 shares of common stock as a restricted stock award on February 27, 2025.

Summary

• Matthew M. Speare, SEVP and Chief Operating Officer of Carter Bankshares, Inc., reported a transaction on February 27, 2025.
• Speare acquired 3,257 shares of common stock through a restricted stock award.
• The acquisition price was $0.
• Following the transaction, Speare beneficially owns 32,359 shares of Carter Bankshares, Inc. common stock directly.
• The restricted stock award has a 5-year cliff vesting schedule, vesting on February 27, 2030.
• Speare also granted power of attorney to Abigail E. McGuire, Lisa J. Correll, K. Jill Milner and Jessica R. Sikes to handle SEC filings related to Section 16 of the Securities Exchange Act of 1934.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The acquisition of restricted stock is a standard practice and suggests confidence in the company's future. The 5 year vesting period is a positive sign.

Positives

• The acquisition of restricted stock aligns the executive's interests with those of the shareholders.
• The vesting schedule encourages long-term commitment from the executive.

Future Outlook

The document does not contain any specific forward-looking statements or guidance.

Industry Context

Executive compensation through stock awards is a common practice in the banking industry to incentivize performance and align management's interests with shareholders.

Comparison to Industry Standards

• Stock awards are a typical component of executive compensation packages in the financial services industry.
• Vesting schedules, such as the 5-year cliff vesting in this case, are standard practice to ensure long-term commitment.
• Comparable companies often use similar equity-based compensation to attract and retain key personnel.

Stakeholder Impact

• The stock award aligns the executive's interests with those of the shareholders, potentially leading to better performance.
• Employees may view the stock award as a positive sign of the company's commitment to its leadership.

Key Dates