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Filing Details

Accession Number:: 0001104659-15-061015
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2015-08-19 20:30:28
Reporting Period:: 2015-08-17

Filing Date:: 2015-08-19
Accepted Time:: 2015-08-19 20:30:28
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
76605	Patrick Industries Inc	PATK	Millwood, Veneer, Plywood, & Structural Wood Members (2430)	351057796

Insiders

Cik	Name	Reported Address	Director	Officer	Large Shareholder	Other
948904	Al Et L Jeffrey Gendell	1 Sound Shore Drive Greenwich CT 06830	No	No	Yes	No
1272374	Tontine Capital Management Llc	1 Sound Shore Drive Greenwich CT 06830	No	No	Yes	No
1276922	P L Partners Capital Tontine	1 Sound Shore Drive Greenwich CT 06830	No	No	Yes	No
1482608	Tontine Capital Overseas Master Fund Ii, L.p.	1 Sound Shore Drive Greenwich CT 06830	No	No	Yes	No
1482609	Tontine Asset Associates, L.l.c.	1 Sound Shore Drive Greenwich CT 06830	No	No	Yes	No
1491514	Tontine Associates, Llc	1 Sound Shore Drive Greenwich CT 06830	No	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock, No Par Value	Disposition	2015-08-17	261,139	$0.00	2,429,278	No	4	J	Indirect	See Footnotes
Common Stock, No Par Value	Acquisiton	2015-08-17	261,139	$0.00	2,429,278	No	4	J	Indirect	See Footnotes
Common Stock, No Par Value	Disposition	2015-08-17	224,949	$0.00	2,204,329	No	4	J	Indirect	See Footnotes
Common Stock, No Par Value	Disposition	2015-08-17	19,020	$39.19	2,185,309	No	4	S	Indirect	See Footnotes
Common Stock, No Par Value	Disposition	2015-08-17	200	$40.15	2,185,109	No	4	S	Indirect	See Footnotes
Common Stock, No Par Value	Disposition	2015-08-18	11,530	$39.18	2,173,579	No	4	S	Indirect	See Footnotes

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	J	Indirect	See Footnotes
No	4	J	Indirect	See Footnotes
No	4	J	Indirect	See Footnotes
No	4	S	Indirect	See Footnotes
No	4	S	Indirect	See Footnotes
No	4	S	Indirect	See Footnotes

Footnotes

This report is filed jointly by Tontine Capital Partners, L.P., a Delaware limited partnership ("TCP"), Tontine Capital Management, L.L.C., a Delaware limited liability company ("TCM"), Tontine Capital Overseas Master Fund II, L.P., a Cayman Islands limited partnership ("TCP 2"), Tontine Asset Associates, L.L.C., a Delaware limited liability company ("TAA"), Tontine Associates, L.L.C., a Delaware limited liability company ("TA"), and Jeffrey L. Gendell ("Mr. Gendell"). Mr. Gendell is the managing member of: (a) TCM, the general partner of TCP; (b) TAA, the general partner of TCP 2; and (c) TA.
On August 17, 2015, in connection with a pro-rata distribution to the holders of ownership interests in TCP, TCP distributed 19,336 shares of Common Stock to TCM, 16,854 shares of Common Stock to TA and 224,949 shares of Common Stock to TCP 2. The transaction described in this footnote did not change the aggregate Common Stock ownership of the filing parties.
Also on August 17, 2015, TCP 2 distributed 224,949 shares of Common Stock to investors that are not directly or indirectly controlled by Mr. Gendell in connection with the redemption of ownership interests in TCP 2 held by those investors.
The sales reported in this row were effected pursuant to a Rule 10b5-1 trading plan adopted by TCP on May 26, 2015.
Also on August 17, 2015, TCP sold 19,020 shares of Common Stock at a weighted average price of $39.19 per share. These shares were sold in multiple transactions at prices ranging from $39.00 to $39.90, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
On August 18, 2015, TCP sold 11,530 shares of Common Stock at a weighted average price of $39.18 per share. These shares were sold in multiple transactions at prices ranging from $39.00 to $39.33, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
Mr. Gendell, TAA and TCP 2 directly own 0 shares of Common Stock, TA directly owns 122,359 shares of Common Stock, TCM directly owns 140,382 shares of Common Stock and TCP directly owns 1,910,838 shares of Common Stock.
All of the foregoing securities may be deemed to be beneficially owned by Mr. Gendell. The foregoing securities held by, and distributed by, TCP may be deemed to be, or have been, beneficially owned by TCM. The foregoing securities held by, and distributed by, TCP 2 may be deemed to be, or have been, beneficially owned by TAA.
Mr. Gendell disclaims beneficial ownership of the Issuer's securities reported herein for purposes of Section 16(a) under the Securities Exchange Act of 1934, as amended, or otherwise, except as to securities directly owned by Mr. Gendell or representing Mr. Gendell's pro rata interest in, and interest in the profits of, TCM, TCP, TCP 2, TAA and TA. TCM disclaims beneficial ownership of the Issuer's securities reported herein for purposes of Section 16(a) under the Securities Exchange Act of 1934, as amended, or otherwise, except as to securities directly owned by TCM or representing TCM's pro rata interest in, and interest in the profits of, TCP.
TAA disclaims beneficial ownership of the Issuer's securities reported herein for purposes of Section 16(a) under the Securities Exchange Act of 1934, as amended, or otherwise, except as to securities directly owned by TAA or representing TAA's pro rata interest in, and interest in the profits of, TCP 2. TA disclaims beneficial ownership of the Issuer's securities reported herein for purposes of Section 16(a) under the Securities Exchange Act of 1934, as amended, or otherwise, except as to securities directly owned by TA.