SEC Form 4 · accession 0001104659-15-061015
PATRICK INDUSTRIES INC · PATK
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owners
Jeffrey L Et Al Gendell
10% Owner
TONTINE CAPITAL MANAGEMENT LLC
10% Owner
TONTINE CAPITAL PARTNERS L P
10% Owner
TONTINE ASSET ASSOCIATES, L.L.C.
10% Owner
Tontine Associates, LLC
10% Owner
Period of report
Aug 17, 2015
Accepted (ET)
Aug 19, 2015 · 8:30 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000076605
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock, no par valueF2,F1,F7,F8,F9,F10 | Aug 17, 2015 | J | 261,139 | $0.00 | D | 2,429,278 | I | See Footnotes |
| Common Stock, no par valueF2,F1,F7,F8,F9,F10 | Aug 17, 2015 | J | 261,139 | $0.00 | A | 2,429,278 | I | See Footnotes |
| Common Stock, no par valueF3,F1,F7,F8,F9,F10 | Aug 17, 2015 | J | 224,949 | $0.00 | D | 2,204,329 | I | See Footnotes |
| Common Stock, no par valueF5,F1,F7,F8,F9,F10 | Aug 17, 2015 | S | 19,020 | $39.19 | D | 2,185,309 | I | See Footnotes |
| Common Stock, no par valueF1,F7,F8,F9,F10 | Aug 17, 2015 | S | 200 | $40.15 | D | 2,185,109 | I | See Footnotes |
| Common Stock, no par valueF6,F1,F7,F8,F9,F10 | Aug 18, 2015 | S | 11,530 | $39.18 | D | 2,173,579 | I | See Footnotes |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1This report is filed jointly by Tontine Capital Partners, L.P., a Delaware limited partnership ("TCP"), Tontine Capital Management, L.L.C., a Delaware limited liability company ("TCM"), Tontine Capital Overseas Master Fund II, L.P., a Cayman Islands limited partnership ("TCP 2"), Tontine Asset Associates, L.L.C., a Delaware limited liability company ("TAA"), Tontine Associates, L.L.C., a Delaware limited liability company ("TA"), and Jeffrey L. Gendell ("Mr. Gendell"). Mr. Gendell is the managing member of: (a) TCM, the general partner of TCP; (b) TAA, the general partner of TCP 2; and (c) TA.
- F10TAA disclaims beneficial ownership of the Issuer's securities reported herein for purposes of Section 16(a) under the Securities Exchange Act of 1934, as amended, or otherwise, except as to securities directly owned by TAA or representing TAA's pro rata interest in, and interest in the profits of, TCP 2. TA disclaims beneficial ownership of the Issuer's securities reported herein for purposes of Section 16(a) under the Securities Exchange Act of 1934, as amended, or otherwise, except as to securities directly owned by TA.
- F2On August 17, 2015, in connection with a pro-rata distribution to the holders of ownership interests in TCP, TCP distributed 19,336 shares of Common Stock to TCM, 16,854 shares of Common Stock to TA and 224,949 shares of Common Stock to TCP 2. The transaction described in this footnote did not change the aggregate Common Stock ownership of the filing parties.
- F3Also on August 17, 2015, TCP 2 distributed 224,949 shares of Common Stock to investors that are not directly or indirectly controlled by Mr. Gendell in connection with the redemption of ownership interests in TCP 2 held by those investors.
- F4The sales reported in this row were effected pursuant to a Rule 10b5-1 trading plan adopted by TCP on May 26, 2015.
- F5Also on August 17, 2015, TCP sold 19,020 shares of Common Stock at a weighted average price of $39.19 per share. These shares were sold in multiple transactions at prices ranging from $39.00 to $39.90, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F6On August 18, 2015, TCP sold 11,530 shares of Common Stock at a weighted average price of $39.18 per share. These shares were sold in multiple transactions at prices ranging from $39.00 to $39.33, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F7Mr. Gendell, TAA and TCP 2 directly own 0 shares of Common Stock, TA directly owns 122,359 shares of Common Stock, TCM directly owns 140,382 shares of Common Stock and TCP directly owns 1,910,838 shares of Common Stock.
- F8All of the foregoing securities may be deemed to be beneficially owned by Mr. Gendell. The foregoing securities held by, and distributed by, TCP may be deemed to be, or have been, beneficially owned by TCM. The foregoing securities held by, and distributed by, TCP 2 may be deemed to be, or have been, beneficially owned by TAA.
- F9Mr. Gendell disclaims beneficial ownership of the Issuer's securities reported herein for purposes of Section 16(a) under the Securities Exchange Act of 1934, as amended, or otherwise, except as to securities directly owned by Mr. Gendell or representing Mr. Gendell's pro rata interest in, and interest in the profits of, TCM, TCP, TCP 2, TAA and TA. TCM disclaims beneficial ownership of the Issuer's securities reported herein for purposes of Section 16(a) under the Securities Exchange Act of 1934, as amended, or otherwise, except as to securities directly owned by TCM or representing TCM's pro rata interest in, and interest in the profits of, TCP.