Filing Details

Accession Number:
0001521774-11-000007
Form Type:
4
Zero Holdings:
No
Publication Time:
2011-06-06 12:59:28
Reporting Period:
2011-02-02
Filing Date:
2011-06-06
Accepted Time:
2011-06-06 12:59:28
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 Insider Title Director Officer Large Shareholder Other
1222379 J James Lynch Cira Centre
2929 Arch Street
Philadelphia PA 19104-2868
Yes No Yes No
Reported Non-Derivative Transactions
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 Acquisiton 2011-02-02 728,052 $2.60 9,674,429 No 4 P Indirect See footnotes
Common Stock, Par Value $0.01 Acquisiton 2011-02-10 3,846 $2.60 9,678,475 No 4 P Direct
Equity Swap Involved Form Type Code Nature of Ownership Explanation
No 4 P Indirect See footnotes
No 4 P Direct
Footnotes
  1. On February 2, 2011, Patriot Financial Partners, LP ("Patriot") and Patriot Financial Partners Parallel, LP ("Patriot Parallel), each agreed to purchase an additional shares of common stock, par value $0.01 per share (the "Common Stock") of Palmetto Bancshares, Inc. (the "Issuer"). Patriot agreed to purchase 620,808 shares of Common Stock for an aggregate purchase price of $1,614,101 and Patriot Parallel agreed to purchase 107,244 shares of Common Stock for an aggregate purchase price of $278,834.
  2. Mr. Lynch is a managing partner of Patriot Financial Partners GP, LLC, which is the general partner of Patriot Financial Partners, GP, L.P., which in turn is the general partner of each of Patriot and Patriot Parallel and as such 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, Mr. Lynch disclaims that he is the beneficial owner of such shares, except to the extent of his pecuniary interest.
  3. Mr. Lynch directly owns the shares of Common Stock on this row.