Carter Bankshares authorizes up to $10M buyback

Available on EDGAR 11/12/2026 - 09:13 AM EST Accepted by SEC EDGAR 11/12/2026 - 09:12 AM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Carter Bankshares, Inc. authorized a common-stock repurchase program of up to $10,000,000 in aggregate, covering a 12-month period beginning when the company receives non-objection from the Federal Reserve Bank of Richmond. Purchases may be made in open-market or privately negotiated transactions, including pursuant to a trading plan adopted in accordance with Rule 10b5-1. Open-market repurchases may be conducted in accordance with Rule 10b-18, subject to applicable securities laws and regulatory requirements.

Management may make purchases from time to time at its discretion, but the authorization does not obligate the company to purchase any particular number of shares. The Board may modify or terminate the program at any time.

8-K Event Classification

Item 8.01 — Other Events

1 item

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Key Figures

Repurchase authorization: Up to $10,000,000 Program period: 12 months

2 metrics

Repurchase authorization Up to $10,000,000 Aggregate amount authorized for common-stock repurchases

Program period 12 months Begins on the date the company receives non-objection from the Federal Reserve Bank of Richmond

Key Terms

Rule 10b5-1 trading plan, safe harbor provision of Rule 10b-18, non-objection

3 terms

Rule 10b5-1 trading plan regulatory

"a trading plan adopted in accordance with Rule 10b5-1"

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

safe harbor provision of Rule 10b-18 regulatory

"in accordance with the safe harbor provision of Rule 10b-18"

non-objection regulatory

"from the Federal Reserve Bank of Richmond"

A non-objection is an official indication from a regulator or authority that it does not oppose a proposed action, such as a transaction, filing, or study; it is not the same as a full approval but is a practical green light to proceed. For investors, a non-objection lowers regulatory uncertainty and makes a planned deal or project more likely to move forward, though conditions or further review can still apply — think of it as a neighbor who doesn’t object to your fence, letting you build while not endorsing it fully.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much stock did CARE authorize for repurchase?

Carter Bankshares authorized a program to repurchase up to $10,000,000 of its common stock in aggregate. The program does not obligate the company to purchase any particular number of shares.

When does CARE's stock repurchase program begin, and how long does it last?

The 12-month period begins on the date Carter Bankshares receives non-objection from the Federal Reserve Bank of Richmond. The repurchase program is subject to that non-objection, and the Board may modify or terminate it at any time.

How can CARE repurchase shares under the program?

The company may repurchase shares in open-market or privately negotiated transactions, including pursuant to a trading plan adopted in accordance with Rule 10b5-1. Open-market repurchases may be conducted in accordance with Rule 10b-18, subject to applicable securities laws and regulatory requirements.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 9, 2026

CARTER BANKSHARES, INC.

(Exact name of registrant as specified in its charter)

Virginia			001-39731			85-3365661
(State or other jurisdiction of incorporation)			(Commission file number)			(IRS Employer Identification No.)

1300 Kings Mountain Road, Martinsville, Virginia 24112

(Address of Principal Executive Offices) (Zip Code)

(276) 656-1776

(Registrant's telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class			Trading Symbol(s)			Name of each exchange on which registered
Common Stock, $1.00 par value			CARE			NASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

ITEM 8.01. - Other Events.

On November 9, 2026, Carter Bankshares, Inc. (the “Company”) announced that the Board of Directors (the “Board”) of the Company has authorized a common share repurchase program to purchase up to $10,000,000 of the Company’s common stock in the aggregate over a period of twelve months from the date of receipt of non-objection from the Federal Reserve Bank of Richmond. The program authorizes the purchase of the Company’s common stock in open market transactions or privately negotiated transactions, including pursuant to a trading plan adopted in accordance with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Open-market repurchases may be conducted in accordance with the safe harbor provision of Rule 10b-18 promulgated under the Exchange Act, subject to applicable securities laws and regulatory requirements.

The authorization permits management to repurchase shares of the Company’s common stock from time to time at management’s discretion. The actual means and timing of any shares purchased under the program, and the number of shares actually purchased under the program, will depend on a variety of factors, including the market price of the Company’s common stock, general market and economic conditions, management’s evaluation of the Company’s financial condition and liquidity position and applicable legal and regulatory requirements. Repurchases made pursuant to a Rule 10b5-1 trading plan will be executed in accordance with the terms and conditions established under such plan.

The repurchase program is subject to receipt of non-objection from the Federal Reserve Bank of Richmond, and may be modified or terminated by the Board at any time. The repurchase program does not obligate the Company to purchase any particular number of shares.

1

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

CARTER BANKSHARES, INC.

(Registrant)

Date: November 12, 2026			By:			/s/ Wendy S. Bell
			Name:			Wendy S. Bell
			Title:			Chief Financial Officer

Filing Exhibits & Attachments

3 documents

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 1.7 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT 22.9 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT 13.3 KB