Form 4: Carter Bankshares Officer Disposes Shares for Tax Purposes
Insider Transaction Report
Bradford N. Langs, President and Chief Strategy Officer of Carter Bankshares, Inc., disposed of 638 shares of common stock for tax liability.
Summary
- Bradford N. Langs, President and Chief Strategy Officer of Carter Bankshares, Inc. (CARE), reported a transaction on March 4, 2026.
- The transaction involved the disposition of 638 shares of Common Stock.
- The shares were disposed of at a price of $20.98 per share.
- This transaction was coded as 'F', indicating payment of tax liability by delivering or withholding securities incident to the receipt, exercise, or vesting of a security.
- Following this transaction, Mr. Langs beneficially owns 32,593 shares of Common Stock directly.
- Mr. Langs has granted a Power of Attorney to Abigail E. McGuire, Lisa J. Correll, K. Jill Milner, and Jessica R. Sikes to prepare and file Section 16 reports on his behalf.
Sentiment
Score: 5
Explanation: StockSavvy.ai views this as a neutral event. The disposition of shares is for tax purposes, not a discretionary sale, and thus does not indicate a change in management's sentiment towards the company's prospects.
Positives
- The transaction is a routine disposition for tax purposes, not a discretionary sale, which suggests no negative sentiment from the insider regarding the company's future prospects.
Negatives
- The insider's direct beneficial ownership of common stock decreased by 638 shares following this transaction.
Future Outlook
The filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.
Industry Context
StockSavvy.ai notes that insider transactions, particularly those coded 'F' for tax withholding, are common occurrences in the financial industry and typically do not reflect a change in the company's fundamental outlook or the insider's confidence in the business. Such transactions are often a consequence of equity compensation vesting.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Power of Attorney Grant | Bradford N. Langs granted a Power of Attorney to four individuals (Abigail E. McGuire, Lisa J. Correll, K. Jill Milner, and Jessica R. Sikes) to prepare, execute, and file Section 16 reports with the SEC on his behalf. | 12/18/2024 | This streamlines the process for Mr. Langs to comply with Section 16 reporting requirements, ensuring timely and accurate filings by authorized representatives. |
Stakeholder Impact
- Shareholders: The transaction slightly reduces the direct beneficial ownership of common stock by a key executive, but as a tax-related disposition, it is unlikely to signal a change in company fundamentals or executive confidence.
Key Dates
| Date | Description |
|---|---|
| 12/18/2024 | Date Bradford N. Langs executed the Section 16 Power of Attorney. |
| 03/04/2026 | Date of the reported transaction (disposition of common stock). |
| 03/13/2026 | Date the Form 4 was signed by the attorney-in-fact. |
Keywords
Carter Bankshares, CARE, Insider Transaction, Form 4, Stock Disposition, Tax Liability, Bradford N. Langs, Officer, Common Stock
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