Carter Bankshares (CARE) SEVP receives stock awards, withholds shares for taxes

Rhea-AI Filing Summary

Carter Bankshares, Inc. executive Tony E. Kallsen, SEVP and Chief Credit Officer, reported multiple common stock transactions. On February 25, 2026, he acquired 2,023 shares and 2,335 shares of common stock at $0.00 per share through grant or award transactions, increasing his direct holdings after each grant. Footnotes describe these as restricted stock awards with three-year vesting, including both annual vesting and three-year cliff vesting structures. On February 14, 2026, 351 shares were disposed of at $22.01 per share to cover tax obligations by delivering shares, a tax-withholding disposition rather than an open-market sale.

SEC Form 4

FORM 4

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
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Kallsen Tony E

(Last) (First) (Middle)

1300 KINGS MOUNTAIN RD

(Street)

MARTINSVILLE VA 24112

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Carter Bankshares, Inc. [ CARE ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SEVP, CHIEF CREDIT OFFICER

3. Date of Earliest Transaction (Month/Day/Year)
02/14/2026

4. If Amendment, Date of 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

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	02/14/2026		F		351	D	$22.01	16,261	D
Common Stock	02/25/2026		A		2,023(1)	A	$0	18,284	D
Common Stock	02/25/2026		A		2,335(2)	A	$0	20,619	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 (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 Securities Underlying Derivative Security (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: 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

Explanation of Responses:

1. Restricted Stock Awards - 3 year vesting (1/3 each year)

2. Restricted Stock Awards - 3 year cliff vesting

Remarks:

	/s/ Jessica R. Sikes, attorney-in-fact	02/27/2026
	** Signature of Reporting Person	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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FAQ

What insider transactions did CARE executive Tony E. Kallsen report?

Tony E. Kallsen reported two stock grants and one tax-related share disposition. He acquired 2,023 and 2,335 Carter Bankshares common shares via awards, and 351 shares were withheld at $22.01 per share to satisfy tax obligations.

Were Tony E. Kallsen’s CARE stock transactions open-market purchases or sales?

The reported transactions were not open-market trades. They were stock awards at $0.00 per share and a tax-withholding disposition, where 351 shares were delivered at $22.01 per share to cover tax liabilities on equity compensation.

What type of equity awards did CARE grant to Tony E. Kallsen?

He received restricted stock awards in Carter Bankshares common stock. Footnotes describe three-year vesting schedules, including one structure with one-third vesting each year and another with three-year cliff vesting before all shares become fully vested.

How many CARE shares does Tony E. Kallsen own after the reported grants?

After the first reported award, his direct holdings increased to 18,284 shares, then to 20,619 shares following the second grant. These figures reflect direct ownership in Carter Bankshares common stock as reported in the Form 4 transactions.

What does the tax-withholding disposition mean in the CARE Form 4 filing?

The tax-withholding disposition reflects 351 Carter Bankshares shares delivered at $22.01 per share to satisfy tax liabilities. This method uses existing or newly vested shares to pay taxes, rather than involving a traditional open-market sale by the executive.