PATRICK INDUSTRIES INC — Director's Dealing 2015

Aug 20, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PATRICK INDUSTRIES INC (PATK)
CIK: 0000076605
Period of Report: 2015-08-17

Reporting Person: TONTINE CAPITAL PARTNERS L P (10% Owner)
Reporting Person: GENDELL JEFFREY L ET AL (10% Owner)
Reporting Person: TONTINE CAPITAL MANAGEMENT LLC (10% Owner)
Reporting Person: TONTINE CAPITAL OVERSEAS MASTER FUND II, L.P. (10% Owner)
Reporting Person: TONTINE ASSET ASSOCIATES, L.L.C. (10% Owner)
Reporting Person: Tontine Associates, LLC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-08-17	Common Stock, no par value	J	261139	—	Disposed	2429278	Indirect
2015-08-17	Common Stock, no par value	J	261139	—	Acquired	2429278	Indirect
2015-08-17	Common Stock, no par value	J	224949	—	Disposed	2204329	Indirect
2015-08-17	Common Stock, no par value	S	19020	$39.19	Disposed	2185309	Indirect
2015-08-17	Common Stock, no par value	S	200	$40.15	Disposed	2185109	Indirect
2015-08-18	Common Stock, no par value	S	11530	$39.18	Disposed	2173579	Indirect

Footnotes

F1: 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.

F2: 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.

F3: 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.

F4: The sales reported in this row were effected pursuant to a Rule 10b5-1 trading plan adopted by TCP on May 26, 2015.

F5: 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.

F6: 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.

F7: 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.

F8: 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.

F9: 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.

F10: 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.