CTHR Charles and Colvard Ltd

FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES                                                                                   
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940                       

1. Name and Address of Reporting Person * SYKES OLLIN B	2. Issuer Name and Ticker or Trading Symbol CHARLES & COLVARD LTD [ CTHR ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director                    _____ 10% Owner _____ Officer (give title below)    _____ Other (specify below)
(Last)          (First)          (Middle) 170 SOUTHPORT DRIVE	3. Date of Earliest Transaction (MM/DD/YYYY) 2/23/2021
(Street) MORRISVILLE, NC 27560 (City)        (State)        (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)	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. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	2/24/2021		P		20000	A	$2.22	1200002	I	By Sykes & Company PA 401(k) Profit Sharing Plan UA Jan 01, 1985 (1)
Common Stock								135000	I	By SEP IRA
Common Stock								92323	I	By ROTH IRA
Common Stock	2/24/2021		P		5000	A	$2.21	105000	I	By IRA
Common Stock								45787	I	By spouse
Common Stock	2/23/2021		M		36496	A	$1.37	485989	D
Common Stock	2/23/2021		M		20325	A	$1.23	506314	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. 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		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 of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (right to buy)	$1.37	2/23/2021		M			36496	5/20/2016	5/20/2025	Common Stock	36496	$0	0	D
Stock Option (right to buy)	$1.23	2/23/2021		M			20325	11/8/2018	5/16/2028	Common Stock	20325	$0	0	D

Explanation of Responses:

(1)

Ollin Sykes is the co-trustee of the Sykes & Company PA 401(k) Profit Sharing Plan UA Jan 01, 1985. The aggregate shares of the Issuer's common stock reported as held by the plan include 320,000 shares (including the 20,000 shares reported as purchased herein) held in Mr. Sykes's personal 401(k) account under the plan. Mr. Sykes disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

Reporting Owners
Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
SYKES OLLIN B 170 SOUTHPORT DRIVE MORRISVILLE, NC 27560	X

Signatures
/s/ Clint J. Pete, Attorney-In-Fact		2/25/2021
**Signature of Reporting Person		Date