13D Filing: Huber Capital Management and Teekay Tankers Ltd (TNK)

ITEM 5.

INTEREST IN SECURITIES OF THE ISSUER.

On behalf of its clients, HCM holds 14,383,234 shares of the
Issuer’s Class A Shares, equivalent to 10.1% of shares outstanding based on 142.2 million Class A Shares issued and outstanding
as reported in the Issuer’s Form 6-K for the quarterly period ended June 30, 2017 filed on September 12, 2017.

A.

HCM

a.

HCM beneficially owns, on behalf of its clients, 14,383,234 shares of the Issuer’s Class A Shares, which represents 10.1% of the outstanding Class A Shares of the Issuer, based on 142.2 million Class A Shares issued and outstanding as reported in the Issuer’s Form 6-K for the quarterly period ended June 30, 2017 filed on September 12, 2017.

b.

HCM has sole power to dispose, on behalf of its clients, of 14,383,234 Class A Shares. HCM also has sole power to vote, on behalf of its clients, 8,569,984 Class A Shares. The power to vote the remaining shares rests with the HCM client or clients for whom such shares were acquired.

c.

HCM has not made any purchases or sales of Class A Shares during the prior 60 days ending on the date of this filing.

d.

Please see (a) above.

e.

Not applicable.

B.

Mr. Huber

a.

Mr. Huber may be deemed to beneficially own 14,524,560 Class A Shares, individually, and on behalf of the clients of HCM, which represents 10.2% of the outstanding Class A Shares of the Issuer, based on 142.2 million Class A Shares issued and outstanding as reported in the Issuer’s Form 6-K for the quarterly period ended June 30, 2017 filed on September 12, 2017. This beneficial ownership arises out of (i) Mr. Huber’s role as Chief Executive Officer of HCM, (ii) the ownership of 100% of the membership interests of HCM by Huber Capital Holdings, LLC, a Delaware limited liability company (“HCH”), for which Mr. Huber serves as managing member; (iii) the ownership of a controlling interest in the membership interests of HCH by JRH Enterprises, Inc., a Delaware corporation, in which Mr. Huber owns a controlling interest; and (iv) through his direct and indirect power over other Class A Shares.

b.

Mr. Huber may be deemed to have sole power to dispose of, individually, and on behalf of HCM’s clients, 14,524,560 Class A Shares. Mr. Huber may also be deemed to have sole power to vote, individually, and on behalf of HCM’s clients, 8,711,310 Class A Shares. The power to vote the remaining shares rests with the HCM client or clients for whom such shares were acquired.