1 |
NAMES
OF REPORTING PERSONS
| ||||
I.R.S.
IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
| |||||
Crites Patricia A | |||||
2 |
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP
| (a) | o | ||
(b) | o | ||||
3 |
SEC
USE ONLY
| ||||
4 |
SOURCE
OF FUNDS
| ||||
PF
OO | |||||
5 |
CHECK
BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(e)
or 2(f)
| o | |||
6 |
CITIZENSHIP
OR PLACE OF ORGANIZATION
| ||||
United States | |||||
NUMBER
OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
| 7 |
SOLE
VOTING POWER
| |||
0 | |||||
8 |
SHARED
VOTING POWER
| ||||
331,326 | |||||
9 |
SOLE
DISPOSITIVE POWER
| ||||
0 | |||||
10 |
SHARED
DISPOSITIVE POWER
| ||||
173,086 | |||||
11 |
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
| ||||
331,326 | |||||
12 |
CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES
| x | |||
13 |
PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
| ||||
4.45%
| |||||
14 |
TYPE
OF REPORTING PERSON
| ||||
IN | |||||
Item 1. | Security and Issuer |
Item 1 is amended to read as follows:
This Amendment No. 16 to Schedule 13D is being filed by Patricia A. Crites to amend the Schedule 13D filed on January 10, 2012, as previously amended by Amendments Nos. 1-15 to Schedule 13D, inclusive, as furthered described in prior filings with the Securities Exchange Commission(together, the "Schedule 13D"),relating to the common stock, par value $2.50 per share, of Summit Financial Group, Inc., a West Virginia corporation to reflect as of December 2, 2013, Mr. and Mrs. Crites were no longer deemed to have beneficial ownership of 250,000 shares of Common Stock as they did not exercise, in whole or in part, their right to convert their Series 2011 Preferred Stock into shares of Common Stock. The class of equity securities to which this Statement relates is the Common Stock, par value $2.50 per share (the "Shares" or the "Common Stock"), of Summit Financial Group, Inc., a West Virginia corporation ("Summit"), whose principal offices are at 300 North Main Street, Moorefield, WV 26836. |
Item 2. | Identity and Background |
(a) | No Change |
(b) | No Change |
(c) | No Change |
(d) | No Change |
(e) | No Change |
(f) | No Change |
Item 3. |
Source
and Amount of Funds or Other Consideration
|
No Change |
Item 4. |
Purpose
of Transaction
|
Item 4 is amended to read as follows:
On October 31, 2011 Mrs. and Mr. Crites purchased 2,000 shares of Summit Financial Group, Inc. 8% Non-Cumulative Convertible Preferred Stock, Series 2011. Under the terms of the Series 2011 Preferred Stock, Mrs. and Mr. Crites have the right to convert the Series 2011 Preferred Stock on any dividend payment date, at their option, into shares of Common Stock based on a conversion rate determined by dividing $500 by $4.00. The dividend payment dates are March 1, June 1, September 1 and December 1 of each year (each "Dividend Payment Date”). Accordingly, as of December 2, 2013, Mrs. and Mr. Crites were no longer deemed to have beneficial ownership of 250,000 shares of Common Stock. |
(a) | No Change |
(b) | No Change |
(c) | No Change |
(d) | No Change |
(e) | No Change |
(f) | No Change |
(g) | No Change |
(h) | No Change |
(i) | No Change |
(j) | No Change |
Item 5. |
Interest
in Securities of the Issuer
|
(a) | Item 5(a) is amended to read as follows:
Mrs. Crites beneficially owns an aggregate of 331,326 Shares or 4.45% of Summit Common Stock. |
(b) | Item 5(b) is amended to read as follows:
Mrs. Crites has sole voting and dispositive power over none of the shares. She shares voting and dispositive power over 173,086 of the Shares with her husband, John Crites, which includes 69,000 shares held in six subtrusts created for the benefit of the Crites grandchildren for which Mrs. and Mr. Crites act as co-trustees as described in Item 6 below, and 27,300 shares individually owned by Mr. Crites. Mrs. Crites disclaims and does not report beneficial ownership over 217,490 Shares over which Mr. Crites exercises sole voting and dispositive power, which includes 118,593 shares owned by The Patricia A. Crites 2010 Grantor Retained Annuity Trust, for which he is trustee and 98,897 shares of common stock owned by the Patricia A. Crites 2012 Grantor Retained Annuity Trust. |
(c) | No Change |
| Transaction Date | Shares or Unites Purchased (Sold) | Price Per Share or Unit |
(d) | Mrs. Crites’ spouse,in his capacity as co-trustee of six of the eight subtrusts described in Item 6 below, has the power to direct the receipt of dividends from, or the right to receive the proceeds from the sale of 69,000 of the Shares. The trustee of two of the subtrusts described in Item 6, below has the power to direct the receipt of dividends from, or the right to receive the proceeds from the sale of 158,240 of the Shares. |
(e) | Not Applicable. |
Item 6. |
Contracts,
Arrangements, Understandings or Relationships with Respect to Securities
of the Issuer
|
No Change |
Item 7. |
Material
to Be Filed as Exhibits
|
None |
Summit Financial Group | |||
December 11, 2013 | By: |
/s/
Teresa D. Ely | |
Lmtd POA Attorney-In Fact | |||