Carter Bank & Trust Announces Stock Purchase Plans for Directors and Executive Officers

Jul 31, 2020

MARTINSVILLE, VA / ACCESSWIRE / July 31, 2020 / Carter Bank & Trust (the "Bank") (NASDAQ:CARE) announced today that beginning July 28, 2020, certain directors and executive officers (each a "Participant" and, collectively, the "Participants") of Carter Bank & Trust (the "Bank") have entered into stock purchase plans for the future purchase of the Bank's common stock in accordance with Rule 10b5-1 promulgated under the Securities Exchange Act of 1934, as amended (the "Purchase Plans"). Under the Purchase Plans, a broker-dealer is authorized, after a 30-day waiting period, to purchase on behalf of the Participant shares of the Bank's common stock on the open market or otherwise at prevailing market prices, and in compliance with Rule 10b5-1, subject to maximum price thresholds specified in the Participant's Purchase Plan. Each Purchase Plan will be funded by the portion of the Participant's monthly board compensation or employee pay, as applicable, that the Participant has elected to direct into his or her Purchase Plan account. The Purchase Plans generally have durations of approximately 6 to 12 months and may be terminated or amended at any time in compliance with Rule 10b5-1.

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