Sec Form 4 Filing - DAVIS JEAN E @ Park Sterling Corp - 2017-11-30

Insider filing report for Changes in Beneficial Ownership
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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
DAVIS JEAN E
2. Issuer Name and Ticker or Trading Symbol
Park Sterling Corp [ PSTB]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X __ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last) (First) (Middle)
1043 EAST MOREHEAD STREET, SUITE 201
3. Date of Earliest Transaction (MM/DD/YY)
11/30/2017
(Street)
CHARLOTTE, NC28204
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 11/30/2017 D 88,014 D 0 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative 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
Stock Option (Right to Buy) $ 6.5 11/30/2017 D 32,340 03/30/2011 03/30/2021 Common Stock 32,340 ( 2 ) 0 D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
DAVIS JEAN E
1043 EAST MOREHEAD STREET
SUITE 201
CHARLOTTE, NC28204
X
Signatures
/s/ Jean E. Davis, by Drew Scroger, Power of Attorney 12/04/2017
Signature of Reporting Person Date
Explanation of Responses:
( 1 )Disposed of pursuant to the Agreement and Plan of Merger, dated as of April 26, 2017 (the "Merger Agreement"), between the Issuer and South State Corporation ("South State"), whereby each share of the Issuer's common stock, other than certain shares owned by the Issuer and South State, was converted into the right to receive 0.14 shares of South State's common stock.
( 2 )Disposed of pursuant to the Merger Agreement, whereby each option to purchase the Issuer's common stock, whether vested or unvested, was converted into the right to receive an amount in cash equal to the product of (a) the number of shares of Issuer common stock subject to such stock option immediately prior to the effective time of the merger and (b) the excess, if any, of (i) the product of (A) the average closing price per share for South State's common stock for the ten full trading days ending on the day immediately preceding the closing date and (B) 0.14, over (ii) the exercise price of such option.

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