Green Brick Partners, Inc. (GRBK): Dan Loeb’s Third Point Reiterates Stake

Page 9 of 11 – SEC Filing

Item 3 of the Schedule 13D is amended to reflect the following:

The net investment costs of the shares of Common Stock subject to the Rebalancing (as defined below) was $0 other than customary commissions, the source of funds of which was the working capital of the applicable Funds.

Item 4.          Purpose of Transaction.

Item 4 of the Schedule 13D is amended to reflect the following:

The Funds entered into ordinary course rebalancing transactions which resulted in no change in the aggregate Common Stock beneficially owned by the Funds, the Management Company and Mr. Loeb (the “Rebalancing”).  In connection with the Rebalancing, the following transactions were consummated:  (a) Third Point Master Purchased 482,400 shares of Common Stock, (b) other Funds purchased 305,600 shares of Common Stock and (c) Third Point LP sold 788,000 shares of Common Stock. All of the rebalancing transactions were effected at the same time at a price of $7.1975 per share of Common Stock, net of commissions.

Item 5.          Interest in Securities of the Issuer.

Items 5(a), (b) and (c) of the Schedule 13D are amended to reflect the following:

(a)          As of the date of this Schedule 13D, the Management Company beneficially owns 8,083,022 shares of Common Stock (the “Third Point Shares”). The Third Point Shares represent approximately 16.6% of the Common Stock, based upon the 48,833,323 shares of Common Stock outstanding as of March 25, 2016 based on information provided by the Issuer in its Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 30, 2016 (the “Outstanding Shares”).

As of the date of this Schedule 13D, Mr. Loeb beneficially owns 8,182,965 shares of Common Stock, representing approximately 16.8% of the Outstanding Shares; Third Point Partners beneficially owns 1,902,648 shares of Common Stock, representing approximately 3.9% of the Outstanding Shares;Third Point Partners Qualified beneficially owns 1,705,143 shares of Common Stock, representing approximately 3.5% of the Outstanding Shares; and Third Point Master beneficially owns 2,657,778 shares of Common Stock, representing approximately 5.4% of the Outstanding Shares. None of the other individual Funds beneficially owns a number of shares of Common Stock representing more than 5% of the outstanding shares of Common Stock.

(b)          The Management Company has the power to vote and dispose of 8,083,022 shares of Common Stock beneficially owned by it. Mr. Loeb has the power to vote and dispose of 8,182,965 shares of Common Stock beneficially owned by him. Third Point Partners has the power to vote and dispose of 1,902,648 shares of Common Stock beneficially owned by it. Third Point Partners Qualified has the power to vote and dispose of 1,705,143 shares of Common Stock beneficially owned by it.  Third Point Master has the power to vote and dispose of 2,657,778 shares of Common Stock beneficially owned by it.

(c)          Other than as described in Item 4, during the past 60 days there were no transactions in the Common Stock effected by the Reporting Persons, nor, to the best of their knowledge, any of their directors, executive officers, general partners or members.