XNAS:PSTB Park Sterling Corp Insider Activity 4 Filing - 10/1/2012

Effective Date 10/1/2012

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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 OF SECURITIES

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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(Print or Type Responses)
1. Name and Address of Reporting Person *
PRICE KIM STUART
  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 (Month/Day/Year)
10/01/2012
(Street)

CHARLOTTE, NC 28204
4. If Amendment, Date Original Filed (Month/Day/Year)
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 (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 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 10/01/2012   A   99,475 A (1) (9) 99,475 D  
Common Stock 10/01/2012   A   12,691 A (2) (9) 12,691 I By his IRA
Common Stock 10/01/2012   A   8,544 A (3) (9) 8,544 I By his 401(k)
Common Stock 10/01/2012   A   18,029 A (4) (9) 18,029 I By his ESOP
Common Stock 10/01/2012   A   923 A (5) (9) 923 I Wife as cust for their son
Common Stock 10/01/2012   A   997 A (6) (9) 997 I By wife's IRA
Common Stock 10/01/2012   A   2,080 A (7) (9) 2,080 I Wife joint with her mother
Common Stock 10/01/2012   A   2,317 A (8) (9) 2,317 I Wife as a Co-Trustee of a Family Trust

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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 (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 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
(Month/Day/Year)
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) $5.148 10/01/2012   A   27,193   10/01/2012 06/16/2018 Common Stock 27,193 (10) 27,193 D  
Stock Option (Right to Buy) $9.679 10/01/2012   A   77,694   10/01/2012 11/03/2013 Common Stock 77,694 (11) 77,694 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
PRICE KIM STUART
1043 EAST MOREHEAD STREET
SUITE 201
CHARLOTTE, NC 28204
  X      

Signatures

 /s/ Tonya Bosworth, as Attorney-in-Fact for Kim S. Price   10/03/2012
** Signature of Reporting Person Date

Explanation of Responses:

* 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).
(1) Represents shares of common stock of Park Sterling Corporation (the "Issuer") received in exchange for 134,436 shares of common stock of Citizens South Banking Corporation ("CSBC") pursuant to the merger of CSBC with and into the Issuer (the "Merger"), based on the assumption that an election was made to receive Issuer common stock with respect to half of the CSBC common stock owned immediately prior to the effective time of the Merger. The exchange ratio in the Merger was 1.4799 shares of Issuer common stock for each share of CSBC common stock, with fractional shares paid in cash.
(2) Represents shares of Issuer common stock received in exchange for 17,153 shares of CSBC common stock pursuant to the Merger, based on the assumption that an election was made to receive Issuer common stock with respect to half of the CSBC common stock owned immediately prior to the effective time of the Merger.
(3) Represents shares of Issuer common stock received in exchange for 11,548 shares of CSBC common stock pursuant to the Merger, based on the assumption that an election was made to receive Issuer common stock with respect to half of the CSBC common stock owned immediately prior to the effective time of the Merger.
(4) Represents shares of Issuer common stock received in exchange for 24,366 shares of CSBC common stock pursuant to the Merger, based on the assumption that an election was made to receive Issuer common stock with respect to half of the CSBC common stock owned immediately prior to the effective time of the Merger.
(5) Represents shares of Issuer common stock received in exchange for 1,249 shares of CSBC common stock pursuant to the Merger, based on the assumption that an election was made to receive Issuer common stock with respect to half of the CSBC common stock owned immediately prior to the effective time of the Merger.
(6) Represents shares of Issuer common stock received in exchange for 1,348 shares of CSBC common stock pursuant to the Merger, based on the assumption that an election was made to receive Issuer common stock with respect to half of the CSBC common stock owned immediately prior to the effective time of the Merger.
(7) Represents shares of Issuer common stock received in exchange for 2,813 shares of CSBC common stock pursuant to the Merger, based on the assumption that an election was made to receive Issuer common stock with respect to half of the CSBC common stock owned immediately prior to the effective time of the Merger.
(8) Represents shares of Issuer common stock received in exchange for 3,133 shares of CSBC common stock pursuant to the Merger, based on the assumption that an election was made to receive Issuer common stock with respect to half of the CSBC common stock owned immediately prior to the effective time of the Merger.
(9) The proration and allocation calculations provided for in the Agreement and Plan of Merger dated as of May 13, 2012 between CSBC and the Issuer (the "Merger Agreement") have not been completed as of the date of this report. Accordingly, it is not possible to determine the exact number of shares of Issuer common stock to be received. Once the exact number of shares is determined, Mr. Price will file an amendment to this report including the number of shares of Issuer common stock received as merger consideration.
(10) In connection with the Merger, the Issuer assumed the outstanding options to purchase shares of CSBC common stock issued by CSBC under its equity incentive plans, in each case subject to adjustment of the underlying shares and the exercise price by the exchange ratio of 1.4799. Previously represented an option to purchase 36,750 shares of CSBC common stock at an exercise price of $7.619 per share. The option became fully vested at the effective time of the Merger.
(11) Previously represented an option to purchase 105,000 shares of CSBC common stock at an exercise price of $14.324 per share. The option was fully vested at the effective time of the Merger.

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XNAS:PSTB Park Sterling Corp Insider Activity 4 Filling

Park Sterling Corp XNAS:PSTB Stock - Get Insider Activity SEC Filing of Park Sterling Corp XNAS:PSTB stocks, including company profile, shares outstanding, strategy, business segments, operations, officers, consolidated financial statements, financial notes and ownership information.

XNAS:PSTB Park Sterling Corp Insider Activity 4 Filing - 10/1/2012
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