Statement of Changes in Beneficial Ownership (4)
December 12 2014 - 5:11PM
Edgar (US Regulatory)
FORM 4
[ ]
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue.
See
Instruction 1(b).
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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OMB APPROVAL
OMB Number:
3235-0287
Estimated average burden
hours per response...
0.5
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
*
WYCOFF W KIRK
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2. Issuer Name
and
Ticker or Trading Symbol
Porter Bancorp, Inc.
[
PBIB
]
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__
X
__ Director
_____ 10% Owner
_____ Officer (give title below)
_____ Other (specify below)
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(Last)
(First)
(Middle)
C/O PORTER BANCORP, INC., 2500 EASTPOINT PARKWAY
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3. Date of Earliest Transaction
(MM/DD/YYYY)
12/10/2014
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(Street)
LOUISVILLE, KY 40223
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
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6. Individual or Joint/Group Filing
(Check Applicable Line)
_
X
_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1.Title of Security
(Instr. 3)
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2. Trans. Date
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2A. Deemed Execution Date, if any
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3. Trans. Code
(Instr. 8)
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4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
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5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
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6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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Amount
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(A) or (D)
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Price
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Fixed Rate Cumulative Perpetual Preferred Stock, Series A
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12/10/2014
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S/K
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19688
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D
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(1)
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0
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I
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By Partnership
(2)
(3)
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Non-voting, Non-cum, Non-conv, Perp Pref Stock, Series E
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12/10/2014
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P/K
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3486
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A
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(1)
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3486
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I
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By Partnership
(2)
(3)
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Table II - Derivative Securities Beneficially Owned (
e.g.
, puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security
(Instr. 3)
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2. Conversion or Exercise Price of Derivative Security
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3. Trans. Date
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3A. Deemed Execution Date, if any
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4. Trans. Code
(Instr. 8)
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5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
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6. Date Exercisable and Expiration Date
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7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
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8. Price of Derivative Security
(Instr. 5)
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9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)
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10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)
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11. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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(A)
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(D)
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Date Exercisable
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Expiration Date
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Title
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Amount or Number of Shares
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Non-voting,Mandatorily Convertible Perp Pref Stock, Series B
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(4)
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12/10/2014
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P/K
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6250
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(4)
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(4)
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Common Shares
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625000
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(1)
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6250
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I
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By Partnership
(2)
(3)
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Non-voting,Mandatorily Convertible,Perp Pref Stock, Series D
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(5)
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12/10/2014
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P/K
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64580
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(5)
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(5)
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Common Shares
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6458000
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(1)
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64580
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I
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By Partnership
(2)
(3)
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Non-voting,Mandatorily Convertible,Perp Pref Stock, Series C
(6)
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$11.50
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12/10/2014
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D/K
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317042
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9/21/2010
(6)
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(6)
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Common Shares
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332894
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(1)
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0
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I
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By Partnership
(2)
(3)
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Warrants to purchase Non-voting Common Shares
(7)
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$11.50
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12/10/2014
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D/K
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717393
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9/16/2010
(7)
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9/16/2015
(7)
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Common Shares
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753263
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(1)
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0
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I
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By Partnership
(2)
(3)
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Explanation of Responses:
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(
1)
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In an equity swap between Porter Bancorp, Inc. (the "Company") and the Funds identified in Note 2, the Funds exchanged (i) the 19,688 Series A Preferred Shares purchased from United States Treasury; (ii) 317,042 Series C Preferred Shares; and (iii) warrants to purchase 717,393 Non-Voting Common Shares for the following newly issued securities of the Company: (a) 6,250 Series B Preferred Shares, (b) 64,580 Series D Preferred Shares, and (c) 3,486 Series E Preferred Shares. See Form 8-K filed November 24, 2014.
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(
2)
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The securities being exchanged have been or are now held by Patriot Financial Partners, L.P. (the "Patriot Fund") and by Patriot Financial Partners Parallel, L.P. (the "Patriot Parallel Fund," together with the Patriot Fund, the "Funds"), as shown in the table attached as Exhibit 99.
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(
3)
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Patriot Financial Partners, GP, L.P. ("Patriot GP") is a general partner of each of the Funds, and Patriot Financial Partners, GP, LLC ("Patriot LLC') is a general partner of Patriot GP. In addition, W. Kirk Wycoff is a general partner of the Funds and Patriot GP and a member of Patriot LLC. Accordingly, securities owned by the Funds may be regarded as being beneficially owned by Patriot GP, Patriot LLC and W. Kirk Wycoff. Mr. Wycoff disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that he is a beneficial owner of such securities for the purposes of Section 16.
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(
4)
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Each Series B Preferred Share will automatically convert into 100 Common Shares upon the third business day following receipt of shareholder approval at a Special Meeting of the Company's shareholders held in the first quarter of 2015.
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(
5)
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Each Series D Preferred Share will automatically convert into 100 Non-Voting Common Shares upon the third business day following receipt of shareholder approval at a Special Meeting of the Company's shareholders held in the first quarter of 2015. Each Non-Voting Common Share will automatically convert into one Common Share upon (a) transfer in a widespread public distribution or pursuant to Rule 144 under the Securities Act, (b) a transfer in which no transferee (or group of associated transferees) would receive more than 2% of any class of voting securities or (c) a transfer to a transferee that controls more than 50% of the voting securities without any transfer from the transferor.
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(
6)
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Each Series C Preferred Share will automatically convert into one Common Share upon (a) transfer in a widespread public distribution or pursuant to Rule 144 under the Securities Act, (b) a transfer in which no transferee (or group of associated transferees) would receive more than 2% of any class of voting securities or (c) a transfer to a transferee that controls more than 50% of the voting securities without any transfer from the transferor.
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(
7)
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Each non-voting common share underlying warrants is convertible into 1.05 Common Shares.
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Remarks:
Exhibit 99
Patriot Fund
Shares exchanged:
Series A 16,788
Series C 270,341
Warrants 611,720
Securities issued:
Series B 5,329
Series D 55,068
Series E 2,973
Patriot Parallel Fund
Securities exchanged:
Series A 2,900
Series C 46,701
Warrants 105,673
Securities issued:
Series B 921
Series D 9,512
Series E 513
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Reporting Owners
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Reporting Owner Name / Address
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Relationships
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Director
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10% Owner
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Officer
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Other
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WYCOFF W KIRK
C/O PORTER BANCORP, INC.
2500 EASTPOINT PARKWAY
LOUISVILLE, KY 40223
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X
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Signatures
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/s/ Phillip Barnhouse, Attorney in Fact for W. Kirk Wycoff
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12/12/2014
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**
Signature of Reporting Person
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Date
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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*
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If the form is filed by more than one reporting person,
see
Instruction 4(b)(v).
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**
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Intentional misstatements or omissions of facts constitute Federal Criminal Violations.
See
18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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Note:
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File three copies of this Form, one of which must be manually signed. If space is insufficient,
see
Instruction 6 for procedure.
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Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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