SEC Form 5 · accession 0000706874-15-000002
PALMETTO BANCSHARES INC · PLMT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
James J Lynch
Director · 10% Owner
Period of report
Dec 31, 2014
Accepted (ET)
Jan 8, 2015 · 12:02 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000706874
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock, $0.01 par valueF1,F2 | Dec 10, 2013 | J | 4,270 | $0.00 | D | 100 | D | |
| Common Stock, $0.01 par valueF3,F6 | Dec 30, 2013 | J | 50 | $0.00 | D | 50 | D | |
| Common Stock, $0.01 par valueF4,F5 | Jan 1, 2014 | A | 772 | $0.00 | A | 822 | D | |
| Common Stock, $0.01 par valueF7,F8 | Mar 21, 2014 | J | 772 | $0.00 | D | 50 | D | |
| Common Stock, $0.01 par valueF9 | Dec 24, 2014 | J | 50 | $0.00 | D | 0 | D | |
| Common Stock, $0.01 par valueF10,F11 | holding | — | — | — | 2,453,360 | I | See Footnote |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Patriot Financial Partners, GP, L.P. ("Patriot GP") is the sole general partner of each of Patriot Financial Partners, L.P. and Patriot Financial Partners Parallel, L.P. (together, the "Funds"). Accordingly, securities owned by the Funds may be regarded as being beneficially owned by Patriot GP. Patriot Financial Partners GP, LLC ("Patriot LLC") is the general partner of Patriot GP. Accordingly, securities owned or deemed to be owned by Patriot GP may be regarded as being beneficially owned by Patriot LLC. Mr. Lynch is a general partner of Patriot GP and a member of Patriot LLC. Mr. Lynch transferred the ownership of 4,270 personally owned shares (the vested portion of restricted common stock granted to Mr. Lynch by the Issuer) to the Funds on 12.10.2013.
- F10Mr. Lynch, the Funds and the related entities disclaim beneficially ownership of the reported securities except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that they are a beneficial owner of such securities for the purposes of Section 16.
- F11Patriot Financial Partners, GP, L.P. ("Patriot GP") is the sole general partner of each of Patriot Financial Partners, L.P. and Patriot Financial Partners Parallel, L.P. (together, the "Funds"). Accordingly, securities owned by the Funds may be regarded as being beneficially owned by Patriot GP. Patriot Financial Partners GP, LLC ("Patriot LLC") is the general partner of Patriot GP. Accordingly, securities owned or deemed to be owned by Patriot GP may be regarded as being beneficially owned by Patriot LLC. Mr. Lynch is a general partner of Patriot GP and a member of Patriot LLC.
- F250 shares represent restricted stock grants for which vesting conditions had not yet been met as of 12.10.2013.
- F3Patriot Financial Partners, GP, L.P. ("Patriot GP") is the sole general partner of each of Patriot Financial Partners, L.P. and Patriot Financial Partners Parallel, L.P. (together, the "Funds"). Accordingly, securities owned by the Funds may be regarded as being beneficially owned by Patriot GP. Patriot Financial Partners GP, LLC ("Patriot LLC") is the general partner of Patriot GP. Accordingly, securities owned or deemed to be owned by Patriot GP may be regarded as being beneficially owned by Patriot LLC. Mr. Lynch is a general partner of Patriot GP and a member of Patriot LLC. Mr. Lynch transferred the ownership of 50 personally owned shares (the vested portion of restricted common stock granted to Mr. Lynch by the Issuer) to the Funds on 12.30.2013.
- F4This transaction was previously reported on 1.2.2014 but the resulting "Amount of Securities Beneficially Owned Following Reported Transaction(s)" was incorrect as a result of the previously corrected (12.10.2013 and 12.30.2013) transactions reported within this Form 5.
- F550 shares represent restricted stock grants for which vesting conditions had not yet been met as of 1.1.2014.
- F650 shares represent restricted stock grants for which vesting conditions had not yet been met as of 12.30.2013.
- F7Patriot Financial Partners, GP, L.P. ("Patriot GP") is the sole general partner of each of Patriot Financial Partners, L.P. and Patriot Financial Partners Parallel, L.P. (together, the "Funds"). Accordingly, securities owned by the Funds may be regarded as being beneficially owned by Patriot GP. Patriot Financial Partners GP, LLC ("Patriot LLC") is the general partner of Patriot GP. Accordingly, securities owned or deemed to be owned by Patriot GP may be regarded as being beneficially owned by Patriot LLC. Mr. Lynch is a general partner of Patriot GP and a member of Patriot LLC. Mr. Lynch transferred the ownership of 772 personally owned shares (the vested portion of restricted common stock granted to Mr. Lynch by the Issuer) to the Funds on 3.21.2014.
- F850 shares represent restricted stock grants for which vesting conditions had not yet been met as of 3.21.2014.
- F9Patriot Financial Partners, GP, L.P. ("Patriot GP") is the sole general partner of each of Patriot Financial Partners, L.P. and Patriot Financial Partners Parallel, L.P. (together, the "Funds"). Accordingly, securities owned by the Funds may be regarded as being beneficially owned by Patriot GP. Patriot Financial Partners GP, LLC ("Patriot LLC") is the general partner of Patriot GP. Accordingly, securities owned or deemed to be owned by Patriot GP may be regarded as being beneficially owned by Patriot LLC. Mr. Lynch is a general partner of Patriot GP and a member of Patriot LLC. Mr. Lynch transferred the ownership of 50 personally owned shares (the vested portion of restricted common stock granted to Mr. Lynch by the Issuer) to the Funds on 12.24.2014.