First South Bancorp CEO cuts stake to less than 5%

By Lisa Kerner

Charlotte, N.C., March 19 - First South Bancorp Inc. president and chief executive officer Thomas A. Vann sold 79,006 shares of the company's stock in the open market between Aug. 14 and Jan. 22.

The shares were priced from $10.4013 to $18.96 each, according to a schedule 13D/A filed with the Securities and Exchange Commission on Thursday.

Vann beneficially owns 444,232 shares, or 4.56%, of the Washington, N.C., bank holding company.

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