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Filing Details

Accession Number:: 0001104659-17-004366
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2017-01-26 20:00:38
Reporting Period:: 2017-01-24

Filing Date:: 2017-01-26
Accepted Time:: 2017-01-26 20:00:38
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	Yes	No	No	No
1272374	Tontine Capital Management Llc	1 Sound Shore Drive Greenwich CT 06830	Yes	No	No	No
1276922	P L Partners Capital Tontine	1 Sound Shore Drive Greenwich CT 06830	Yes	No	No	No
1482608	Tontine Capital Overseas Master Fund Ii, L.p.	1 Sound Shore Drive Greenwich CT 06830	Yes	No	No	No
1482609	Tontine Asset Associates, L.l.c.	1 Sound Shore Drive Greenwich CT 06830	Yes	No	No	No
1491514	Tontine Associates, Llc	1 Sound Shore Drive Greenwich CT 06830	Yes	No	No	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	2017-01-24	8,100	$80.43	919,356	No	4	S	Indirect	See Footnotes
Common Stock, No Par Value	Disposition	2017-01-25	2,917	$81.29	916,439	No	4	S	Indirect	See Footnotes
Common Stock, No Par Value	Disposition	2017-01-25	6,500	$82.64	909,939	No	4	S	Indirect	See Footnotes

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
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.
The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by TCP on December 15, 2016.
On January 24, 2017, TCP sold 8,100 shares of Common Stock at a weighted average price of $80.43 per share. These shares were sold in multiple transactions at prices ranging from $80.00 to $80.90, 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 January 25, 2017, TCP sold 2,917 shares of Common Stock at a weighted average price of $81.29 per share. These shares were sold in multiple transactions at prices ranging from $81.00 to $81.80, 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.
Also on January 25, 2017, TCP sold 6,500 shares of Common Stock at a weighted average price of $82.64 per share. These shares were sold in multiple transactions at prices ranging from $82.50 to $83.03, 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 647,198 shares of Common Stock.
All of the foregoing securities may be deemed to be beneficially owned by Mr. Gendell. The foregoing securities held by TCP may be deemed to be beneficially owned by TCM. Any securities held by TCP 2 may be deemed to be 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.