SEC FORM 4

SEC FORM 4 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).

1. Name and Address of Reporting Person^*

Hedgepeth William L

(Last)

(First)

(Middle)

700 W CUMBERLAND ST

(Street)

DUNN

28334

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
SELECT BANCORP, INC. [ SLCT ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
10/05/2021

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
common stock	10/05/2021		M		35,200	A	⁽⁸⁾	81,167	D
common stock								18,580	I	Joint with spouse

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
stock options	$8.04	10/05/2021		M			15,000	⁽²⁾	02/23/2026	common stock	15,000	$8.04	0	D
stock options	$6.93	10/05/2021		M			15,000	⁽¹⁾	02/11/2025	common stock	15,000	$6.93	0	D
stock options	$10.15	10/05/2021		M			5,200	⁽³⁾	01/24/2027	common stock	6,500	$10.15	1,300	D
Options to Purchase Common Stock	$11.27							⁽⁴⁾	09/06/2027	common stock	7,000		7,000	D
Options to Purchase Common Stock	$11.84							⁽⁵⁾	01/22/2029	common stock	15,000		15,000	D
Options to Purchase Common Stock	$11.84							⁽⁶⁾	01/21/2030	Common Stock	15,000		15,000	D
Options to Purchase Common Stock	$9.41							⁽⁷⁾	01/26/2031	Common Stock	7,500		7,500	D

Explanation of Responses:

1. The option vests in five equal annual installments beginning on February 11, 2016, subject to holder's continued employment.

2. The option vests in five equal annual installments beginning on February 23, 2017, subject to holder's continued employment.

3. The option vests in five equal annual installments beginning on January 24, 2018, subject to holder's continued employment.

4. The option vests in five equal annual installments beginning on September 6, 2018, subject to holder's continued employment.

5. The option vests in five equal annual installments beginning on January 22, 2020, subject to holder's continued employment.

6. The option vests in five equal annual installments beginning on January 21, 2021, subject to holder's continued employment.

7. The option vests in five equal annual installments beginning on January 26, 2022, subject to holder continued employment.

8. 15,000 @ $6.93; 15,000 @ $8.04; 5,200 @ $10.15

Remarks:

	/s/William L Hedgepeth	10/05/2021
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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.

SEC Form 4: Hedgepeth William L converted options into 35,200 shares, increasing direct ownership by 77% to 81,167 units