Form SC 13D/A - General Statement of Acquisition of Beneficial Ownership: [Amend]
September 09 2024 - 4:41PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No: 4)*
(Name of Issuer)
| | |
| COMMON STOCK NO PAR VALUE |
(Title of Class of Securities)
(CUSIP Number)
| | |
Timothy Chang
Executive Vice President & Chief Financial Officer
PCB Bancorp
3701 Wilshire Boulevard, Suite 900
Los Angeles, CA 90010
(213) 210-2000 |
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
(Date of Event Which Requires Filing of This Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. ¨
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See § 240.13d-7 for other parties to whom copies are to be sent.
_______________
* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on 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).
| | | | | | | | | | | |
CUSIP No. 69320M109 | | |
| 1 | NAME OF REPORTING PERSON
LEE, SANG YOUNG | |
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) x (b) ¨ |
| 3 | SEC USE ONLY | |
| 4 | SOURCE OF FUNDS
WC PF | |
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ¨ |
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES OF AMERICA | |
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER
14,840* | |
| 8 | SHARED VOTING POWER
1,924,550 | |
| 9 | SOLE DISPOSITIVE POWER
14,840* | |
| 10 | SHARED DISPOSITIVE POWER
1,924,550 | |
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,929,390 | |
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | ¨
|
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.59% | |
| 14 | TYPE OF REPORTING PERSON
IN | |
*Includes 10,000 shares of stock options exercisable within 60 days hereof.
| | | | | | | | | | | |
CUSIP No. 69320M109 | | |
| 1 | NAME OF REPORTING PERSON
LEE'S GOLD AND DIAMOND IMPORT, INC. (EIN NO. 95-4159457) | |
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) x (b) ¨ |
| 3 | SEC USE ONLY | |
| 4 | SOURCE OF FUNDS
WC | |
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ¨
|
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA | |
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER
416,016 | |
| 8 | SHARED VOTING POWER
0 | |
| 9 | SOLE DISPOSITIVE POWER
416,016 | |
| 10 | SHARED DISPOSITIVE POWER
0 | |
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
416,016 | |
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | ¨
|
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.91% | |
| 14 | TYPE OF REPORTING PERSON
CO | |
| | | | | | | | | | | |
CUSIP No. 69320M109 | | |
| 1 | NAME OF REPORTING PERSON
SANG YOUNG LEE & CHUN YOUNG LEE TR UA 04/22/1999 LEE FAMILY TRUST | |
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) x (b) ¨ |
| 3 | SEC USE ONLY | |
| 4 | SOURCE OF FUNDS
OO | |
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ¨
|
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA | |
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER
0 | |
| 8 | SHARED VOTING POWER
1,508,534 | |
| 9 | SOLE DISPOSITIVE POWER
0 | |
| 10 | SHARED DISPOSITIVE POWER
1,508,534 | |
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,508,534 | |
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | ¨
|
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.57% | |
| 14 | TYPE OF REPORTING PERSON
OO | |
The following constitutes Amendment No. 4 to the Schedule 13D and 13D/A filed by the undersigned (“Amendment No. 4”). This Amendment No. 4 amends the Schedule 13D filed on August 20, 2018 and Schedule 13D/A filed on May 13, 2021, November 1, 2022, and May 10, 2023 as specifically set forth herein.
This Amendment No. 4 is being filed to reflect a change in the percentage of outstanding shares of PCB Bancorp held by the reporting persons and resulting from the PCB Bancorp’s share repurchase activity, the reporting persons’ acquisition of 126,490 shares acquired through open-market purchases since May 10, 2023, and stock options held by Sang Young Lee granted by PCB Bancorp on October 25, 2023 that are now exercisable within 60 days. These transactions combined had an aggregate effect of increasing the reporting persons’ beneficial ownership by 1% of the outstanding shares of PCB Bancorp from that previously reported.
During the 60 days preceding the date of this filing, Mr. Lee’s family trust, in his personal capacity, purchased an aggregate of 17,427 shares of PCB Bancorp common stock through open-market transactions as follows:
| | | | | | | | | | | | | | |
| Date | | Shares Acquired | | Price |
| September 5, 2024 | | 11,627 | | $18.40 |
| September 6, 2024 | | 5,800 | | $18.40 |
As of the filing of the Schedule 13D/A on May 10, 2023, the reporting persons collectively owned 1,802,900 shares of PCB Bancorp common stock, which represented 12.59% of the outstanding shares of PCB Bancorp. The additional 126,490 shares represented an increase of less than 1% of PCB Bancorp outstanding beneficially owned by the undersigned. However, as a result of recent repurchase activity by PCB Bancorp and stock options recently became exercisable within 60 days, the aggregate change in the percentage of outstanding shares of PCB Bancorp that the reporting persons’ holding represents has increased to 13.59%.
Signatures
After reasonable inquiry and to the best knowledge and belief of the undersigned, such person certifies that the information set forth in this Statement with respect to such person is true, complete and correct.
| | | | | | | | | | | | | | |
| Date: | September 9, 2024 | | Signature: | /s/ Sang Young Lee* |
| | | Name: | Sang Young Lee |
| | | | | | | | | | | | | | |
| Date: | September 9, 2024 | | Lee's Gold & Diamond Import, Inc. |
| | | Signature: | /s/ Sang Young Lee* |
| | | Name: | Sang Young Lee |
| | | Title: | Chief Executive Officer |
| | | | | | | | | | | | | | |
| Date: | September 9, 2024 | | Sang Young Lee & Chun Young Lee Tr Ua 04/22/1999 Lee Family Trust |
| | | Signature: | /s/ Sang Young Lee* |
| | | Name: | Sang Young Lee |
| | | Title: | Trustee |
| | | | |
| | | *By Timothy Chang, attorney-in-fact, pursuant to the Limited Power of Attorney filed as Exhibit 24 to the Schedule 13D filed by the Reporting Persons on August 20, 2018 |
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