Director Walsh shifts Carter Bankshares (CARE) stake via 900-share gift

Rhea-AI Filing Summary

Carter Bankshares director Elizabeth L. Walsh reported an insider transaction involving the company’s common stock. On 01/30/2026, she gifted 900 shares of Carter Bankshares common stock to her mother, a transfer reported at a price of $0 per share, which is typical for a gift.

After this transaction, Walsh directly owned 54,178 shares of Carter Bankshares common stock. She also reported indirect ownership positions, including 4,769 shares held by Carriage Square, 367,771 shares held by EASG, LLC, and 16,000 shares held by Lester Family Holdings. The filing reflects a change in how a portion of her holdings is allocated within her family, rather than a market sale for cash.

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

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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^*

Walsh Elizabeth L.

(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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
01/30/2026

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								4,769	I	by Carriage Square
Common Stock								367,771	I	by EASG, LLC
Common Stock								16,000	I	by Lester Family Holdings
Common Stock	01/30/2026		G		900(1)	D	$0	54,178	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. Gifted to Mother

Remarks:

	/s/ Lisa J. Correll, Attorney-in-fact	02/02/2026
	** 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 transaction did CARE director Elizabeth L. Walsh report?

Elizabeth L. Walsh reported gifting 900 shares of Carter Bankshares common stock. The transaction occurred on 01/30/2026 and was coded as a gift, meaning the shares were transferred without payment, specifically to her mother.

How many Carter Bankshares (CARE) shares does Elizabeth L. Walsh now hold directly?

Following the reported gift, Elizabeth L. Walsh directly holds 54,178 shares of Carter Bankshares common stock. This figure reflects her remaining personal stake after transferring 900 shares to her mother as a no‑price gift transaction.

What indirect Carter Bankshares (CARE) holdings are associated with Elizabeth L. Walsh?

The filing lists indirect holdings of 4,769 shares held by Carriage Square, 367,771 shares held by EASG, LLC, and 16,000 shares held by Lester Family Holdings. These positions are reported as indirect beneficial ownership of Carter Bankshares common stock.

What does transaction code “G” mean in the Carter Bankshares Form 4?

Transaction code “G” on the Form 4 indicates a bona fide gift of securities. In this case, 900 shares of Carter Bankshares common stock were gifted at a reported price of $0 per share, consistent with a non-cash transfer to a family member.

Who received the gifted Carter Bankshares (CARE) shares from Elizabeth L. Walsh?

According to the filing’s footnote, the 900 shares of Carter Bankshares common stock were gifted to Walsh’s mother. This clarifies that the transaction is a family transfer rather than an open-market sale or purchase involving outside investors.

Does the reported gift involve any cash proceeds for Elizabeth L. Walsh?

No, the gift was reported at a price of $0 per share, indicating no cash proceeds. The transaction represents a transfer of 900 Carter Bankshares common shares to her mother, rather than a sale generating cash compensation for the director.