Statement of Ownership (sc 13g)
February 13 2017 - 4:20PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
Charles & Colvard, Ltd.
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(Name of Issuer)
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Common Stock
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(Title of Class of Securities)
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December 31, 2016
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(Date of Event Which Requires Filing of this Statement)
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Check the appropriate box to designate the rule pursuant to
which this Schedule is filed:
*
The remainder of this cover page shall be filled out
for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment
containing information which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page
shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”)
or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however,
see the Notes).
1
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NAMES OF REPORTING PERSONS
Ollin B. Sykes
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
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(a) ☐
(b) ☐
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3
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SEC USE ONLY
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4
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CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
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NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH
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5
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SOLE VOTING POWER
1,087,529 (1)
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6
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SHARED VOTING POWER
36,705 (2)
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7
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SOLE DISPOSITIVE POWER
1,087,529 (1)
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8
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SHARED DISPOSITIVE POWER
36,705 (2)
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9
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,124,234
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10
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES
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☐
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11
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.2% (3)
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12
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TYPE OF REPORTING PERSON
IN
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(1)
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Includes (a) options to purchase 36,496 shares of
common stock exercisable within 60 days of the date of this filing; (b) 548,775 shares held by the Sykes & Company Profit
Sharing Plan and Trust, of which Mr. Sykes is the trustee; and (c) 347,234 shares held in a margin account.
|
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(2)
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Includes (a) 35,787 shares of common stock held by
Mr. Sykes’s spouse and (b) 918 shares held by Sykesco Investment Partners, over which Mr. Sykes has shared voting and dispositive
power.
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(3)
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Based upon 21,444,885 shares of common stock outstanding
as of October 31, 2016, as reported by the Issuer in its Quarterly Report on Form 10-Q filed on November 4, 2016.
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Item 1.
Charles
& Colvard, Ltd.
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(b)
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Address of Issuer’s Principal Executive Offices:
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170 Southport Drive, Morrisville, NC 27560
Item 2
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(a)
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Name of Person Filing:
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Ollin B. Sykes
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(b)
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Address of Principal Business Office or, if none,
Residence:
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Ollin B. Sykes, c/o
Charles & Colvard, Ltd., 170 Southport Drive, Morrisville, NC 27560
United States of America
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(d)
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Title of Class of Securities:
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Common Stock, no par
value per share (“Common Stock”)
159765106
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Item 3.
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If this statement is filed pursuant to Sections 240.13d-1(b)
or 240.13d-2(b) or (c), check whether the person filing is a:
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Not Applicable. This
Schedule 13G is filed pursuant to Rule 13d-1(d) under the Act.
The
information required by this item with respect to the reporting person is set forth in rows 5 through 9, inclusive, and row
11 (including the footnotes thereto) of the cover page to this Schedule 13G and is incorporated herein by reference.
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Item 5.
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Ownership of Five Percent or Less of a Class.
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Not Applicable.
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Item 6.
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Ownership of More than Five Percent on Behalf of Another
Person.
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Not Applicable.
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Item 7.
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Identification and Classification of the Subsidiary
Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
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Not Applicable.
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Item 8.
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Identification and Classification of Members of the
Group.
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Not Applicable.
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Item 9.
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Notice of Dissolution of Group.
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Not Applicable.
Not Applicable.
SIGNATURES
After reasonable inquiry
and to the best of our knowledge and belief, we certify that the information set forth in this statement is true, complete and
correct.
Dated: February 13, 2017
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OLLIN B. SYKES
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/s/ Ollin B. Sykes
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Ollin B. Sykes
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