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Filing Details

Accession Number:: 0001140361-10-026346
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2010-06-21 13:00:00
Reporting Period:: 2010-06-17

Filing Date:: 2010-06-21
Accepted Time:: 2010-06-21 19:35:18
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1051871	Citizens South Banking Corp	CSBC	Savings Institution, Federally Chartered (6035)	542069979

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1249994	Stuart Kim Price	519 South New Hope Road Gastonia NC 28054	President And Ceo	Yes	Yes	No	No

Reported Non-Derivative Transactions

Show Other Fields >>

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2010-06-17	100	$5.86	11,275	No	4	P	Indirect	By his IRA
Common Stock	Acquisiton	2010-06-17	100	$5.89	11,375	No	4	P	Indirect	By his IRA
Common Stock	Acquisiton	2010-06-18	200	$5.25	11,575	No	4	P	Indirect	By his IRA

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Indirect	By his IRA
No	4	P	Indirect	By his IRA
No	4	P	Indirect	By his IRA

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	125,657	Direct
Common Stock	10,949	Indirect	By his 401(k) plan.
Common Stock	21,716	Indirect	By his ESOP
Common Stock	1,190	Indirect	Wife as custodian for their son
Common Stock	1,284	Indirect	By wife's IRA
Common Stock	2,621	Indirect	Wife joint with mother
Common Stock	3,278	Indirect	Wife as co-trustee of a family trust.

Reported Derivative Holdings

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Sec. Name	Sec. Type	Price	Date	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Common Stock	Stock Option (Right to Buy)	$8.00		2018-06-16	35,000	35,000	Direct
Common Stock	Stock Option (Right to Buy)	$15.04	2003-11-03	2013-11-03	100,000	100,000	Direct

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
2018-06-16	35,000	35,000	Direct
2013-11-03	100,000	100,000	Direct

Footnotes

Includes 75,788 Restricted Stock Awards, composed of 2,250 Restricted Stock Awards granted on February 19, 2010, and 14,538 Restricted Stock Awards granted on April 15, 2009, that will cliff vest on the first business day following the period that the Issuer repays the outstanding financial obligation to the United States Department of Treasury arising from the TARP Capital Purchase Program, or, if earlier, will cliff vest or become partially vested up to the maximum amount permissible on the first business day following the earliest date permitted under guidance that may be issued by the United States Department of Treasury or other government agency.
Includes 16,500 Restricted Stock Awards that will vest over a five-year period, commencing on June 16, 2008, the date of the award, at the rate of 10% on June 16, 2009, 10% on June 16, 2010, 10% on June 16, 2011, 35% on June 16, 2012, and 35% on June 16, 2013; and includes 42,500 Recognition and Retention awards that vest over a seven-year period, commencing on November 3, 2003, at the rate of 30% on November 3, 2003, 10% on January 2, 2004, 10% on November 3, 2005, and 10% per year on November 3 of each year thereafter. Accordingly, 41,550 shares have vested and 34,238 shares have not vested.
This incentive stock option vests in five equal annual installments, with the first installment vesting one year from the date of grant, or on June 16, 2009, and continuing each anniversary thereafter through June 16, 2013.
This incentive stock option has vested. Accordingly, 114,000 incentive stock options have vested and 21,000 incentive stock options have not vested.