Carter Bankshares (CARE) CFO covers tax liability with 435 company shares

Rhea-AI Filing Summary

Carter Bankshares, Inc. reported that Senior Executive VP and CFO Wendy S. Bell had 435 shares of Common Stock withheld on March 4 to cover tax obligations, at a reported value of $20.98 per share. After this tax-withholding disposition, she directly holds 40,223 shares of Carter Bankshares common stock.

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^*

Bell Wendy S.

(Last) (First) (Middle)

1300 KINGS MOUNTAIN ROAD

(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)
	SENIOR EXECUTIVE VP, CFO

3. Date of Earliest Transaction (Month/Day/Year)
03/04/2026

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	03/04/2026		F		435	D	$20.98	40,223	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:

Remarks:

	/s/ Jessica R. Sikes, Attorney-in-Fact	03/13/2026
	** 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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Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did Carter Bankshares (CARE) report for CFO Wendy S. Bell?

Carter Bankshares reported a tax-related share disposition by CFO Wendy S. Bell. On March 4, 435 common shares were withheld to satisfy tax obligations, at a reported value of $20.98 per share, leaving her with 40,223 directly held shares.

Was the Carter Bankshares (CARE) CFO’s Form 4 transaction an open-market sale?

No, the Form 4 shows a tax-withholding disposition, not an open-market sale. 435 shares were delivered to cover tax liability, coded as “F,” meaning payment of tax by delivering previously owned or issuable securities rather than selling shares in the market.

How many Carter Bankshares (CARE) shares does the CFO hold after this Form 4 transaction?

Following the March 4 tax-withholding disposition, CFO Wendy S. Bell directly holds 40,223 shares of Carter Bankshares common stock. This figure reflects her position immediately after 435 shares were used to satisfy tax obligations related to equity compensation.

What price per share was used in the Carter Bankshares (CARE) CFO’s tax-withholding transaction?

The Form 4 reports a value of $20.98 per share for the 435 Carter Bankshares common shares used to cover tax liability. This figure is used solely to quantify the tax-withholding disposition and does not by itself represent a market sale transaction.

How is the Carter Bankshares (CARE) CFO’s Form 4 transaction classified in SEC terms?

The transaction is coded “F,” described as payment of exercise price or tax liability by delivering securities. It is categorized as a non-derivative, tax-withholding disposition of 435 common shares, and is not counted as a traditional buy or sell in the summary statistics.