4//SEC Filing
Friedman Martin S. 4
Accession 0001420506-21-001331
CIK 0001553326other
Filed
Aug 18, 8:00 PM ET
Accepted
Aug 19, 12:23 PM ET
Size
8.2 KB
Accession
0001420506-21-001331
Insider Transaction Report
Form 4
Friedman Martin S.
10% Owner
Transactions
- Sale
Common Stock
2021-08-17$28.55/sh−34,175$975,696→ 215,531 total(indirect: See footnote) - Sale
Common Stock
2021-08-17$28.55/sh−15,825$451,804→ 11,052 total(indirect: See footnote)
Footnotes (3)
- [F1]Martin S. Friedman (the "Reporting Person") is the managing member of FJ Capital Management LLC ("FJ Capital"), which is the managing member of and investment adviser to Financial Opportunity Fund LLC ("FOF") and investment adviser to a separately managed account ("SMA"), each of which beneficially owns shares of the common stock of the issuer (the "Shares"). As a consequence of a stock repurchase by the issuer, FOF and the SMA, in the aggregate, beneficially became owners of 10% or more of the Shares. Therefore, (a) on behalf of FOF, FJ Capital sold 34,175 Shares and (b) on behalf of the SMA, FJ Capital sold 15,825 Shares (collectively, the "Disposed Shares") in order to reduce the aggregate beneficial ownership of the Shares by FOF and the SMA to less than 10% of the issued and outstanding Shares.
- [F2]The sale by FJ Capital on behalf of FOF and the SMA of the Disposed Shares was necessitated solely for the purpose of reducing the aggregate amount of the Shares controlled by FOF and the SMA as a consequence of the stock repurchase by the issuer in order to avoid FOF and the SMA being deemed to be bank holding companies pursuant to the Bank Holding Company Act of 1956, as amended, and the rules promulgated pursuant thereto by the Board of Governors of the Federal Reserve System.
- [F3]Martin S. Friedman, in his capacity as Managing Member of FJ Capital, has voting and dispositive power over the Shares held by FOF and the SMA. The Reporting Person disclaims beneficial ownership of the securities referred to in this Form 4 except to the extent of the Reporting Person's pecuniary interest in such securities, and the filing of this Form 4 shall not be construed as an admission that the Reporting Person is, for the purpose of Section 16 of the Securities Exchange Act of 1934, as amended, the beneficial owner of any securities covered by this Form 4.
Documents
Issuer
Westbury Bancorp, Inc.
CIK 0001553326
Entity typeother
Related Parties
1- filerCIK 0001449556
Filing Metadata
- Form type
- 4
- Filed
- Aug 18, 8:00 PM ET
- Accepted
- Aug 19, 12:23 PM ET
- Size
- 8.2 KB