Sec Form 4 Filing - GARRETT MASON Y @ GRANDSOUTH BANCORPORATION - 2022-12-06

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person GARRETT MASON Y 2. Issuer Name and Ticker or Trading Symbol GRANDSOUTH BANCORPORATION [ GRRB] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director X __ 10% Owner X __ Officer (give title below) _____ Other (specify below) Chairman and CEO (Last) (First) (Middle) 381 HALTON ROAD 3. Date of Earliest Transaction (MM/DD/YY) 12/06/2022 (Street) GREENVILLE, SC29606 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 12/06/2022 J( 1 ) V 2,223 D $ 0 0 I Transfer to Child Common Stock 12/06/2022 J( 2 ) V 61,492 D $ 0 0 I Transfer to Brother Common Stock 348,255 D Common Stock 13,336 I By Self as Custodian for Grandchildren Common Stock 174,663 I By Spouse Common Stock 61,492 I By BMPBC, LLC Partnership Common Stock 300,000 I By Mason Y. Garrett Family, LP

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivat ive Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Preferred Stock - Series A ( 3 ) ( 3 ) ( 3 ) Common Stock 9,204 9,204 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other GARRETT MASON Y 381 HALTON ROAD GREENVILLE, SC29606 X X Chairman and CEO Signatures /s/ Nelson Mullins Riley & Scarborough LLP as POA for Mason Y. Garrett 12/06/2022 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Includes 2,223 shares formerly held by Mr. M. Garrett as custodian for his step-daughter. These shares were transferred to his step-daughter, who does not share his household. ( 2 )Includes 61,492 shares held by Mr. M. Garrett as custodian for his brother. These shares were transferred to his brother, who does not share his household. ( 3 )The Series A Preferred Stock is convertible upon a Change of Control as defined in the Articles of Amendment designating the Series A Preferred into a number of shares of the issuers common stock on a one for one basis and has no expiration date.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

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