As filed with the Securities and Exchange Commission on July 21, 2000
Registration No. 333-49759
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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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POST-EFFECTIVE AMENDMENT NO. 2 TO
FORM S-8
REGISTRATION STATEMENT UNDER
THE SECURITIES ACT OF 1933
FIRST SOUTH BANCORP, INC.
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(Exact Name of Registrant as Specified in Its Charter)
VIRGINIA 56-1999749
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(State or Other Jurisdiction of (I.R.S. Employer
Incorporation or Organization) Identification No.)
1311 CAROLINA AVENUE, P.O. BOX 2047
WASHINGTON, NORTH CAROLINA 27889
(252) 946-4178
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(Address of Principal Executive Offices)
FIRST SOUTH BANCORP, INC. MANAGEMENT RECOGNITION PLAN
FIRST SOUTH BANCORP, INC. 1997 STOCK OPTION PLAN, AS AMENDED
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(Full Title of the Plan)
GARY R. BRONSTEIN, ESQUIRE
JOEL E. RAPPOPORT, ESQUIRE
STRADLEY RONON HOUSLEY KANTARIAN & Bronstein, LLP
1220 19TH STREET N.W., SUITE 700
WASHINGTON, D.C. 20036
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(Name and Address of Agent For Service)
(202) 822-9611
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(Telephone Number, Including Area Code, of Agent for Service)
CALCULATION OF REGISTRATION FEE
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Title of Proposed Maximum Proposed Maximum Amount Of
Securities to Amount To Be Offering Price Aggregate Registration
Be Registered Registered Per Share Offering Price Fee
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Common Stock,
$.01 par value 961,918 (1) $19.69 (2) $21,013,475 (3) $5,985.77 (4)
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(1) Maximum number of shares issued or issuable under the First South Bancorp,
Inc. Management Recognition Plan (174,570 shares, as adjusted for the 50%
stock dividend paid on August 19, 1998) and First South Bancorp, Inc. 1997
Stock Option Plan, as amended (787,348 shares, as adjusted for the 50%
stock dividend paid on August 19, 1998 and as amended on February 17, 2000
to increase the number of shares issuable by 350,923 shares from 436,425 to
787,348), as such amounts may be increased in accordance with said plan in
the event of a merger, consolidation, recapitalization, stock dividend,
stock split or similar event involving the Registrant.
(2) 350,923 shares are being registered hereby in connection with an amendment
of the Stock Option Plan to increase the number of shares issuable by
350,923, from 436,425 to 787,348. None of the additional 350,923 are
presently subject to option. Accordingly, pursuant to Rule 457(c), all
350,923 shares are being registered based upon the average of the high and
low selling prices of the common stock of the Registrant as reported on the
Nasdaq National Market System on July 18, 2000 of $19.69 per share
($6,909,674 in the aggregate). Therefore, the total amount of the
additional fee for the 350,923 shares being registered herein is $1,824.15.
(3) Includes aggregate maximum offering price calculated pursuant to Rate
457(h) for 610,995 previously registered shares ($14,103,801).
(4) A registration fee of $4,160.62 was paid on April 9, 1998 in connection
with the registration of 610,995 shares, as adjusted for the 50% stock
dividend paid on August 19, 1998.
The contents of the previous Registration Statement on Form S-8
(Registration No. 333-49759) are incorporated herein by reference.
ITEM 8. EXHIBITS
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For a list of all exhibits filed or included as part of this Registration
Statement, see "Index to Exhibits" at the end of this Registration Statement.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended, the
registrant certifies that it has reasonable grounds to believe that it meets all
of the requirements for filing on Form S-8 and has duly caused this Registration
Statement to be signed on its behalf by the undersigned thereunto duly
authorized, in the City of Washington, State of North Carolina, on the 20th day
of July, 2000.
FIRST SOUTH BANCORP, INC.
By: /s/ Thomas A Vann
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Thomas A. Vann
President
(Duly Authorized Representative)
Pursuant to the requirements of the Securities Act of 1933, as amended,
this Registration Statement has been signed by the following persons in the
capacities and on the dates indicated.
Signatures Title Date
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/s/ Thomas A. Vann President and Director July 20, 2000
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Thomas A. Vann
/s/ William L. Wall Executive Vice President and July 20, 2000
- -------------------------------------------- Chief Financial Officer
William L. Wall (Principal Financial and
Accounting Officer)
* Director July 20, 2000
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Edmund T. Buckman, Jr.
* Director July 20, 2000
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Linley H. Gibbs, Jr.
* Director July 20, 2000
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Frederick N. Holscher
* Director July 20, 2000
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Frederick N. Holscher
* Director July 20, 2000
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Charles E. Parker, Jr.
* Director July 20, 2000
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Marshall T. Singleton
/s/ H.D. Reaves, Jr. Director July 20, 2000
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H. D. Reaves, Jr.
* By: /s/ Thomas A. Vann
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Thomas A. Vann
Attorney-in-Fact
INDEX TO EXHIBITS
Exhibit Description
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* 5 Opinion of Housley Kantarian & Bronstein, P.C. as to the
legality of the Common Stock being registered
*23.1 Consent of Housley Kantarian & Bronstein, P.C. (appears in
their opinion filed as Exhibit 5)
*23.2 Consent of Coopers & Lybrand L.L.P.
*24 Power of Attorney
*99.1 First South Bancorp, Inc. Management Recognition Plan, Trust
Agreement under the First South Bancorp, Inc. Management
Recognition Plan, and Notice of Removal of Trustee
99.2 First South Bancorp, Inc. 1997 Stock Option Plan, as amended
*99.3 Form of Stock Option Agreement to be entered into with
Optionees with respect to Incentive Stock Options granted
under the First South Bancorp, Inc. 1997 Stock Option Plan,
as amended
*99.4 Form of Stock Option Agreement to be entered into with
Optionees with respect to Non-Incentive Stock Options granted
under the First South Bancorp, Inc. 1997 Stock Option Plan,
as amended
*99.5 Notice of MRP Award
*99.6 Memorandum concerning taxation of MRP Awards and associated
election form
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* Previously filed under Registration Statement on Form S-8
(Registration No. 333-49759) on April 9, 1998.