Filing Details

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13G/A

Under the Securities Exchange Act of 1934

(Amendment No. 7)¹

 

 

WVS FINANCIAL CORP.

(Name of Issuer)

Common Stock, Par Value $.01 Per Share

(Title of Class of Securities)

929358 10 9

(CUSIP Number)

December 31, 2017

(Date of Event Which Requires Filing of this Statement)

 

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

☒ Rule 13d-1(b)

☐ Rule 13d-1(c)

☐ Rule 13d-1(d)

 

1	The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in 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).

 

 

 

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CUSIP NO. 929358 10 9		13G/A		Page  2  of 6 Pages

 

1.		NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON   WVS Financial Corp. Employees Stock Ownership Plan and Trust
2.		CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)  ☐        (b)  ☐
3.		SEC USE ONLY
4.		CITIZENSHIP OR PLACE OF ORGANIZATION   Pennsylvania

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH				5.		SOLE VOTING POWER   209,020
				6.		SHARED VOTING POWER   130,951
				7.		SOLE DISPOSITIVE POWER   209,020
				8.		SHARED DISPOSITIVE POWER   130,951

9.		AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   339,971
10.		CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES   ☐
11.		PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)   16.93%
12.		TYPE OF REPORTING PERSON   EP

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CUSIP NO. 929358 10 9		13G/A		Page  3  of 6 Pages

 

Item 1(a).

Name of Issuer:

WVS Financial Corp.

 

Item 1(b).

Address of Issuers Principal Executive Offices:

9001 Perry Highway

Pittsburgh, Pennsylvania 15237

 

Item 2(a).

Name of Person Filing:

WVS Financial Corp. Employee Stock Ownership Plan and Trust

 

Item 2(b).

Address of Principal Business Office or, if None, Residence:

WVS Financial Corp.

9001 Perry Highway

Pittsburgh, Pennsylvania 15237

 

Item 2(c).

Citizenship:

Pennsylvania

 

Item 2(d).

Title of Class of Securities:

Common Stock, par value $.01 per share

 

Item 2(e).

CUSIP Number:

929358 10 9

 

Item 3.

If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is:

 

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CUSIP NO. 929358 10 9		13G/A		Page  4  of 6 Pages

 

Item 4.

Ownership.

 

(a)

Amount beneficially owned:

339,971 shares of Common Stock

 

(b)

Percent of class: 16.93% (based on 2,008,144 shares of Common Stock issued and outstanding as of December 31, 2017)

 

(c)

Number of shares as to which such person has:

 

(i)

Sole power to vote or to direct the vote 209,020

 

(ii)

Shared power to vote or to direct the vote 130,951

 

(iii)

Sole power to dispose or to direct the disposition of 209,020

 

(iv)

Shared power to dispose or to direct the disposition of 130,951

The WVS Financial Corp. Employee Stock Ownership Plan and Trust (the ESOP or the Reporting Person) is an employee benefit plan subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (ERISA), with individual accounts for the benefit of participating employees and their beneficiaries. The ESOPs assets are held in trust by the trustee, currently John W. Grace (the Plan Trustee). The number of shares listed as beneficially owned represents the entire number of shares of Common Stock held in the ESOP by the Plan Trustee as of December 31, 2017. As of December 31, 2017, of the 339,971 shares of Common Stock held in the ESOP, there were 130,951 shares of Common Stock allocated to individual accounts established for participating employees and their beneficiaries, while 209,020 shares of Common Stock held in the ESOP were unallocated. In general, participating employees and their beneficiaries have the power and authority to direct the voting of shares of Common Stock allocated to their individual accounts through the Plan Trustee (who has shared voting and dispositive power over the allocated shares), subject to the fiduciary duties of the Plan Trustee and applicable law. Any unallocated shares of Common Stock are generally voted by the Plan Trustee in his discretion, subject to the fiduciary duties of the Plan Trustee and applicable law.

 

Item 5.

Ownership of Five Percent or Less of a Class.

Not applicable since the reporting entity owns more than 5% of the class.

 

Item 6.

Ownership of More than Five Percent on Behalf of Another Person.

Dividends on Common Stock allocated to the accounts of participating employees and their beneficiaries, to the extent paid in the form of additional securities, are added to their respective individual accounts. Dividends on Common Stock allocated to the accounts of participating employees and their beneficiaries, to the

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CUSIP NO. 929358 10 9		13G/A		Page  5  of 6 Pages

 

extent paid in cash, are, at the direction of the Plan Administrator, either (i) credited to the respective individual accounts, or (ii) used to pay principal and interest on outstanding indebtedness incurred by the Reporting Person to acquire Common Stock.

 

Item 7.

Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company.

Not applicable.

 

Item 8.

Identification and Classification of Members of the Group.

Not applicable since the Reporting Person is not a member of a group.

 

Item 9.

Notice of Dissolution of Group.

Not applicable since the Reporting Person is not a member of a group.

 

Item 10.

Certification.

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

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CUSIP NO. 929358 10 9		13G/A		Page  6  of 6 Pages

 

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

This report is not an admission that the Plan Trustee is the beneficial owners of any securities covered by this report, and the Plan Trustee expressly disclaims beneficial ownership of all shares reported herein pursuant to Rule 13d-4.

 

		WVS FINANCIAL CORP. EMPLOYEE STOCK OWNERSHIP PLAN AND TRUST
January 26, 2018		By:		/s/ David J. Bursic
				David J. Bursic, President, on behalf of West
				View Savings Bank as Plan Administrator