DeFerie Suzanne S Form 5 ASB Bancorp / Suzanne S DeFerie ownership change

SEC Form 5

FORM 5

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

ANNUAL 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).

Form 3 Holdings Reported.

Form 4 Transactions Reported.

1. Name and Address of Reporting Person^*

DeFerie Suzanne S

(Last) (First) (Middle)

11 CHURCH STREET

(Street)

ASHEVILLE NC 28801

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ASB Bancorp Inc [ ASBB ]

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

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

3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year)
12/31/2016

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 at end of Issuer's Fiscal Year (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
				Amount	(A) or (D)	Price
COMMON STOCK							19,943	D
COMMON STOCK							5,000	I	By Spouse
COMMON STOCK							31,151.2009(1)	I	By 401(k) Plan
COMMON STOCK							4,712.5781	I	By ESOP
COMMON STOCK							20,553(2)	I	Restricted Stock I

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)
					(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (right to buy)	$15.71						02/05/2014(3)	02/05/2023	Common Stock	100,000		100,000	D

Explanation of Responses:

1. Between January 1, 2016 and December 31, 2016 the reporting person acquired 1,453.7380 units of common stock in the ASB Bancorp Stock Fund under the 401(k) Plan totaling 34,474.1921 units at December 31, 2016. Such acquisitions were exempt under Rule 16b-3(c). The reported amount represents the adjusted share equivalent of these 34,474.1921 units that the reporting person held in the ASB Bancorp, Inc. Stock Fund at December 31, 2016.

2. Shares of restricted stock vest in five equal annual installments beginning on February 5, 2014, the first anniversary of the date of the award.

3. Stock options vest in five equal annual installments beginning on February 5, 2014, the first anniversary of the date of grant.

	/s/Kirby A. Tyndall, Attorney-in-Fact	02/08/2017
	** 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).
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