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Filing Details

Accession Number:: 0001140361-10-050613
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2010-12-21 11:21:35
Reporting Period:: 2010-12-17

Filing Date:: 2010-12-21
Accepted Time:: 2010-12-21 11:21:35
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

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2010-12-17	100	$3.96	12,753	No	4	P	Indirect	By his IRA
Common Stock	Acquisiton	2010-12-17	168	$3.97	12,921	No	4	P	Indirect	By his IRA
Common Stock	Acquisiton	2010-12-17	232	$4.00	13,153	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	129,997	Direct
Common Stock	11,675	Indirect	By his 401(k) Plan
Common Stock	22,801	Indirect	By his ESOP
Common Stock	1,249	Indirect	Wife as custodian for their son
Common Stock	1,348	Indirect	By wife's IRA
Common Stock	2,776	Indirect	Wife joint with her mother
Common Stock	3,133	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)	$7.62		2018-06-16	36,750	36,750	Direct
Common Stock	Stock Option (Right to Buy)	$14.32	2003-11-03	2013-11-03	105,000	105,000	Direct

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
2018-06-16	36,750	36,750	Direct
2013-11-03	105,000	105,000	Direct

Footnotes

Reflects adjustment for stock split distributed on November 15, 2010.
Includes 79,576 Restricted Stock Awards, composed of 2,362 Restricted Stock Awards granted on February 19, 2010, and 15,264 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 17,325 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 44,625 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 and have fully vested on November 3, 2010. Accordingly, 48,090 shares from these Awards have vested and 31,486 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, 119,700 incentive stock options have vested and 22,050 incentive stock options have not vested.