SEC Form 4 · accession 0001104659-17-060019
PATRICK INDUSTRIES INC · PATK
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owners
Jeffrey L Et Al Gendell
Director
TONTINE CAPITAL MANAGEMENT LLC
Director
TONTINE CAPITAL PARTNERS L P
Director
TONTINE ASSET ASSOCIATES, L.L.C.
Director
Tontine Associates, LLC
Director
Period of report
Sep 27, 2017
Accepted (ET)
Sep 29, 2017 · 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 valueF3,F1,F7,F8,F9,F10 | Sep 27, 2017 | S | 19,700 | $82.92 | D | 876,739 | I | See Footnotes |
| Common Stock, no par valueF4,F1,F7,F8,F9,F10 | Sep 27, 2017 | S | 300 | $83.50 | D | 876,439 | I | See Footnotes |
| Common Stock, no par valueF5,F1,F7,F8,F9,F10 | Sep 27, 2017 | S | 3,742 | $84.50 | D | 872,697 | I | See Footnotes |
| Common Stock, no par valueF6,F1,F7,F8,F9,F10 | Sep 28, 2017 | S | 200 | $85.04 | D | 872,497 | 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.
- F2The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by TCP on August 17, 2017.
- F3On September 27, 2017, TCP sold 19,700 shares of Common Stock at a weighted average price of $82.92 per share. These shares were sold in multiple transactions at prices ranging from $82.50 to $83.48, 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.
- F4Also on September 27, 2017, TCP sold 300 shares of Common Stock. These shares were sold in multiple transactions, each at a price of $83.50 per share. 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 in each separate transaction described in this footnote.
- F5Also on September 27, 2017, TCP sold 3,742 shares of Common Stock at a weighted average price of $84.50 per share. These shares were sold in multiple transactions at prices ranging from $84.50 to $84.53, 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 September 28, 2017, TCP sold 200 shares of Common Stock at a weighted average price of $85.04 per share. These shares were sold in multiple transactions at prices ranging from $85.03 to $85.05, 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 609,756 shares of Common Stock.
- F8All of the foregoing securities may be deemed to be beneficially owned by Mr. Gendell. The foregoing securities held by TCP may be deemed to be beneficially owned by TCM. Any securities held by TCP 2 may be deemed to be 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.