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Filing Details

Accession Number:: 0001181431-11-006492
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2011-02-01 20:01:14
Reporting Period:: 2011-01-28

Filing Date:: 2011-02-01
Accepted Time:: 2011-02-01 20:01:14
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
706874	Palmetto Bancshares Inc	PLMT	State Commercial Banks (6022)	742235055

Insiders

Cik	Name	Reported Address	Director	Officer	Large Shareholder	Other
1228649	Robert Goldstein	C/O Capgen Capital Group V Lp 280 Park Ave, 40Th Floor West, Suite 401 New York NY 10017	Yes	No	Yes	No
1453863	Eugene Ludwig	280 Park Avenue 40Th Floor West, Suite 401 New York NY 10017	Yes	No	Yes	Yes
1503084	Capgen Capital Group V Llc	280 Park Avenue 40Th Floor Suite 401 New York NY 10017	Yes	No	Yes	Yes
1503085	Capgen Capital Group V Lp	C/O Capgen Capital Group V Lp 280 Park Ave, 40Th Floor West, Suite 401 New York NY 10017	Yes	No	Yes	Yes
1503574	R John Sullivan	C/O Capgen Capital Group V Lp 280 Park Ave, 40Th Floor West, Suite 401 New York NY 10017	Yes	No	Yes	No

Reported Non-Derivative Transactions

Show Other Fields >>

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock, Par Value $0.01 Per Share	Acquisiton	2011-01-28	1,721,490	$2.60	22,875,336	No	4	P	Direct
Common Stock, Par Value $0.01 Per Share	Acquisiton	2011-01-28	1,721,490	$2.60	22,875,336	No	4	P	Indirect	Held by CapGen Capital Group V LP

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Direct
No	4	P	Indirect	Held by CapGen Capital Group V LP

Footnotes

On January 28, 2011, CapGen Capital Group V LP ("CapGen LP") agreed to purchase an additional 1,721,846 shares of common stock, par value $0.01 per share (the "Common Stock") of Palmetto Bancshares, Inc. (the "Issuer") in two installments. On January 31, 2011, CapGen LP will purchase 846,153 shares of Common Stock for an aggregate purchase price of $2,200,000. On February 11, 2011, CapGen LP will purchase the remaining 875,537 shares of Common Stock for an aggregate purchase price of $2,275,000.
CapGen LP directly owns the shares of Common Stock on this row.
As the sole general partner of CapGen LP, CapGen Capital Group V LLC ("CapGen LLC") may be deemed to be the indirect beneficial owner of such shares under Rule 16a-1(a)(2) promulgated under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Pursuant to Rule 16a-1(a)(4) promulgated under the Exchange Act, CapGen LLC disclaims that it is the beneficial owner of such shares, except to the extent of its pecuniary interest.
As the managing member of CapGen LLC, Mr. Ludwig may be deemed to be the indirect beneficial owner of such shares under Rule 16a-1(a)(2) promulgated under the Exchange Act. Pursuant to Rule 16a-1(a)(4) promulgated under the Exchange Act, Mr. Ludwig disclaims that he is the beneficial owner of such shares, except to the extent of his pecuniary interest.
As a principal member and member of the investment committee of CapGen LLC, the general partner of CapGen LP, Mr. Goldstein may be deemed to be the indirect beneficial owner of such shares under Rule 16a-1(a)(2) promulgated under the Exchange Act. Pursuant to Rule 16a-1(a)(4) promulgated under the Exchange Act, Mr. Goldstein disclaims that he is the beneficial owner of such shares, except to the extent of his pecuniary interest.
As a member of the investment committee of CapGen LLC, the general partner of CapGen LP, Mr. Sullivan may be deemed to be the indirect beneficial owner of such shares under Rule 16a-1(a)(2) promulgated under the Exchange Act. Pursuant to Rule 16a-1(a)(4) promulgated under the Exchange Act, Mr. Sullivan disclaims that he is the beneficial owner of such shares, except to the extent of his pecuniary interest.