SEC Form 4 · accession 0001104659-17-048768
HCSB FINANCIAL CORP · HCFB
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
John Pietrzak
Director
Period of report
Jul 31, 2017
Accepted (ET)
Aug 2, 2017 · 1:40 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001091491
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Jul 31, 2017 | D | 10,000 | — | D | 0 | D | |
| Common StockF1,F2 | Jul 31, 2017 | D | 35,968,163 | — | D | 0 | I | See Footnote |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1On July 31, 2017, pursuant to that certain Agreement and Plan of Merger, dated as of April 19, 2017 (the "Merger Agreement"), by and among United Community Banks, Inc. ("United") and HCSB Financial Corporation ("HCSB"), HCSB merged with and into United, with United surviving the merger (the "Merger"). Pursuant to the Merger Agreement, at the effective time of the Merger, each share of common stock, $0.01 par value, of HCSB issued and outstanding immediately prior to the effective time of the Merger (other than shares held by HCSB, United, or any of their respective wholly owned subsidiaries) was converted into the right to receive 0.0050 shares of United common stock, $1.00 par value per share (subject to the payment of cash in lieu of fractional shares) (the "Merger Consideration"). As a result of the Merger, John T. Pietrzak ("Mr. Pietrzak") no longer beneficially owns directly or indirectly any shares of HCSB common stock.
- F2These securities were held directly by Castle Creek Capital Partners VI, LP ("Fund VI"). Mr. Pietrzak is a managing principal of Castle Creek Capital VI LLC, the sole general partner of Fund VI.