Green Dot Corp (GDOT): Harvest Capital Strategies Gets Two Board Seats

Page 1 of 22
A newly-amended 13D filing with the US Securities and Exchange Commission revealed that two nominees of Joseph Jolson‘s Harvest Capital Strategies, Saturnino Fanlo and George W. Gresham, were elected to the Board of Green Dot Corp (NYSE:GDOT), according to the preliminary voting results from the 2016 Annual Meeting. In addition, Harvest Capital Strategies thanked other shareholders for their support, and announced that it is very pleased with the elections, hoping that the new board will work on maximizing shareholder value. Harvest Capital Strategies owns almost 4.6 million Class A Common shares of  Green Dot Corp (NYSE:GDOT), which account for 9.6% of the company’s outstanding class A stock. Although the number of shares didn’t change recently, the percentage of the class did, as Harvest Capital Strategies reported holding 9.2% of the total amount of shares in a previous 13D filing in March.
stock, stocks, market, marketing, shares, share, global, chart, bonds, tax, capital, concept, graph, growth, background, rise, statistics, economy, bar, future, loss, business,

solarseven/Shutterstock.com

Follow Green Dot Corp (NYSE:GDOT)

Green Dot Corp (NYSE:GDOT) is a company that provides cash reload processing services and reloadable prepaid debit cards across the US, working in two sectors – Processing and Settlement Services, and Account Services. Year-to-date, the company’s stock is up by 29.29%. Earlier this month, Morgan Stanley boosted its price target on Green Dot’s stock to $18.00 from $20.00, with an ‘Equal Weight’ rating. Recently, Green Dot Corp has created an online marketplace called Green Dot Money, where low and moderate income consumers can be matched with a curated set of lending partners.
According to Insider Monkey’s database, the number of hedge funds long the stock increased at the end of March, and there were 14 investors with positions in this stock, versus 12 funds a quarter earlier. The biggest position in Green Dot Corp (NYSE:GDOT) was disclosed by Harvest Capital Strategies, valued at almost $104.7 million, and the second most valuable position was reported by Malcolm Fairbairn’s Ascend Capital, valued at $9.02 million. Other investors that were bullish on this stock included John Fichthorn’s Dialectic Capital Management, Brian C. Freckmann’s Lyon Street Capital, Glenn Russell Dubin’s Highbridge Capital Management, and David Costen Haley’s HBK Investments.

You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
JEFFREY B. OSHER 4,597,000 4,597,000 4,597,000 9.6%
HARVEST CAPITAL STRATEGIES 4,527,249 4,527,249 4,527,249 9.4%
HARVEST SMALL CAP PARTNERS MASTER, LTD 1,968,324 1,968,324 1,968,324 4.1%
HARVEST SMALL CAP PARTNERS 1,481,676 1,481,676 1,481,676 3.1%
HSCP STRATEGIC I 1,000,000 1,000,000 1,000,000 2.1%
HARVEST FINANCIAL PARTNERS 51,825 51,825 51,825 Less than 1%
DONALD DESTINO 77,249 77,249 77,249 Less than 1%
CRAIG BAUM 7,500 7,500 7,500 Less than 1%
SATURNINO FANLO 4,000 4,000 4,000 Less than 1%
GEORGE W. GRESHAM 4,050 4,050 4,050 0%
PHILIP B. LIVINGSTON Less than 1%

Follow Joseph A. Jolson's Harvest Capital Strategies

Page 1 of 22 – SEC Filing

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO § 240.13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
§ 240.13d-2(a)
(Amendment No. 4)1
Green Dot Corporation
(Name of Issuer)
Class A Common Stock, par value $0.001 per share
(Title of Class of Securities)
39304D102
(CUSIP Number)
JEFFREY B. OSHER
HARVEST CAPITAL STRATEGIES LLC
600 Montgomery Street, Suite 1700
San Francisco, California 94111
(415) 869-4433
 
STEVE WOLOSKY, ESQ.
ANDREW FREEDMAN, ESQ.

OLSHAN FROME WOLOSKY LLP

1325 Avenue of the Americas
New York, New York 10019
(212) 451-2300

(Name, Address and Telephone Number of Person

Authorized to Receive Notices and Communications)
May 23, 2016
(Date of Event Which Requires Filing of This Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box ¨.
Note:  Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits.  See § 240.13d-7 for other parties to whom copies are to be sent.
_______________
1              The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

Follow Green Dot Corp (NYSE:GDOT)

Page 1 of 22