Sec Form 13D Filing - NORCROSS GEORGE E III filing for REPUBLIC FIRST BANCORP INC (FRBK) - 2022-11-14

Insider filing report for Changes in Beneficial Ownership

  • Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
  • Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

Schedule 13D/A

(Rule 13d-101)

Information to be Included in Statements Filed Pursuant to § 240.13d-1(a) and Amendments Thereto Filed Pursuant to § 240.13d-2(a)

Under the Securities Exchange Act of 1934

(Amendment No. 25)*

 

 

Republic First Bancorp, Inc.

(Name of Issuer)

Common Stock, par value $0.01 per share

(Title of Class of Securities)

760416107

(CUSIP Number)

George E. Norcross, III

218 Royal Palm Way, Suite 300

Palm Beach, Florida 33480

(561) 500-4600

With a Copy to:

H. Rodgin Cohen

Mitchell S. Eitel

Sullivan & Cromwell LLP

125 Broad Street

New York, NY 10004

212-558-4000

(Name, address and telephone number of person authorized to receive notices and communications)

November 11, 2022

(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. 760416107   SCHEDULE 13D   Page 2 of 10

 

  1   

Names of Reporting Persons

 

George E. Norcross, III

  2  

Check the Appropriate Box If a Member of a Group (See Instructions)

a.  ☒        b.  ☐

 

  3  

SEC Use Only

 

  4  

Source of Funds (See Instructions)

 

PF

  5  

Check Box If Disclosure of Legal Proceedings Is Required Pursuant to Items 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

 

674,572

       8  &#x A0;

Shared Voting Power

 

0

       9   

Sole Dispositive Power

 

674,572

     10   

Shared Dispositive Power

 

0

11  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

674,572(1)

12  

Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

 

13  

Percent of Class Represented By Amount in Row (11)

 

1.1%(2)

14  

Type of Reporting Person (See Instructions)

 

    IN          

 

(1)

The Reporting Person is reporting on this Schedule 13D as a member of a “group” with the other Reporting Persons. The group beneficially owns 6,311,618 shares of Common Stock owned by all of the Reporting Persons in the aggregate, representing approximately 9.9% of the outstanding shares of Common Stock. See Item 5.

(2)

For purposes of calculating beneficial ownership percentages in this statement on Schedule 13D, the total number of shares of Common Stock outstanding as of October 18, 2022 is 63,787,064, as reported by the Issuer in its Annual Report on Form 10-K for the year ended December 31, 2021, filed with the SEC on October 26, 2022.


CUSIP No. 760416107   SCHEDULE 13D   Page 3 of 10

 

  1   

Names of Reporting Persons

 

Avery Conner Capital Trust

  2  

Check the Appropriate Box If a Member of a Group (See Instructions)

a.  ☒        b.  ☐

 

  3  

SEC Use Only

 

  4  

Source of Funds (See Instructions)

 

AF, WC

  5  

Check Box If Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

 

  6  

Citizenship or Place of Organization

 

Florida

Number of   Shares  

Beneficially  

Owned By  

Each  

Reporting  

Person  

With  

       7     

Sole Voting Power

 

0

       8   

Shared Voting Power

 

4,724,662(3)

       9   

Sole Dispositive Power

 

0

     10   

Shared Dispositive Power

 

4,724,662(3)

11  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

4,724,662(1)

12  

Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

 

13  

Percent of Class Represented By Amount in Row (11)

 

7.4%(2)

14  

Type of Reporting Person (See Instructions)

 

    OO          

 

(3)

4,724,662 shares of Common Stock held by the Avery Conner Capital Trust, of which Philip A. Norcross, Susan D. Hudson, Geoffrey B. Hudson and Rose M. Guida serve as Trustees and may be deemed to have shared beneficial ownership as Trustees.


CUSIP No. 760416107   SCHEDULE 13D   Page 4 of 10

 

  1   

Names of Reporting Persons

 

Philip A. Norcross

  2  

Check the Appropriate Box If a Member of a Group (See Instructions)

a.  ☒        b.  ☐

 

  3  

SEC Use Only

 

  4  

Source of Funds (See Instructions)

 

PF, OO See Item 3

  5  

Check Box If Disclosure of Legal Proceedings Is Required Pursuant to Items 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

 

450,000

       8   

Shared Voting Power

 

4,724,662(3)

       9   

Sole Dispositive Power

 

450,000

     10   

Shared Dispositive Power

 

4,724,662(3)

11  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

5,174,662(1), (3)

12  

Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

 

13  

Percent of Class Represented By Amount in Row (11)

 

8.1%(2)

14  

Type of Reporting Person (See Instructions)

 

    IN          


CUSIP No. 760416107   SCHEDULE 13D   Page 5 of 10

 

  1   

Names of Reporting Persons

 

Susan D. Hudson, in her capacity as a Trustee

  2  

Check the Appropriate Box If a Member of a Group (See Instructions)

a.  ☒        b.  ☐

 

  3  

SEC Use Only

 

  4  

Source of Funds (See Instructions)

 

OO See Item 3

  5  

Check Box If Disclosure of Legal Proceedings Is Required Pursuant to Items 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

 

0

       8   

Shared Voting Power

 

4,724,662(3)

       9   

Sole Dispositive Power

 

0

     10   

Shared Dispositive Power

 

4,724,662(3)

11  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

4,724,662(1), (3)

12  

Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

 

13  

Percent of Class Represented By Amount in Row (11)

 

7.4%(2)

14  

Type of Reporting Person (See Instructions)

 

    IN          


CUSIP No. 760416107   SCHEDULE 13D   Page 6 of 10

 

  1   

Names of Reporting Persons

 

Geoffrey B. Hudson, in his capacity as a Trustee

  2  

Check the Appropriate Box If a Member of a Group (See Instructions)

a.  ☒        b.  ☐

 

  3  

SEC Use Only

 

  4  

Source of Funds (See Instructions)

 

OO See Item 3

  7  

Check Box If Disclosure of Legal Proceedings Is Required Pursuant to Items 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

 

0

       8   

Shared Voting Power

 

4,724,662(3)

       9   

Sole Dispositive Power

 

0

     10   

Shared Dispositive Power

 

4,724,662(3)

11  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

4,724,662(1), (3)

12  

Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

 

13  

Percent of Class Represented By Amount in Row (11)

 

7.4%(2)

14  

Type of Reporting Person (See Instructions)

 

    IN          


CUSIP No. 760416107   SCHEDULE 13D   Page 7 of 10

 

  1   

Names of Reporting Persons

 

Rose M. Guida, in her capacity as a Trustee

  2  

Check the Appropriate Box If a Member of a Group (See Instructions)

a.  ☒        b.  ☐

 

  3  

SEC Use Only

 

  4  

Source of Funds (See Instructions)

 

OO See Item 3

  8  

Check Box If Disclosure of Legal Proceedings Is Required Pursuant to Items 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

 

0

       8   

Shared Voting Power

 

4,724,662(3)

       9   

Sole Dispositive Power

 

0

     10   

Shared Dispositive Power

 

4,724,662(3)

11  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

4,724,662(1), (3)

12  

Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

 

13  

Percent of Class Represented By Amount in Row (11)

 

7.4%(2)

14  

Type of Reporting Person (See Instructions)

 

    IN          


CUSIP No. 760416107   SCHEDULE 13D   Page 8 of 10

 

  1   

Names of Reporting Persons

 

Gregory B. Braca

  2  

Check the Appropriate Box If a Member of a Group (See Instructions)

a.  ☒        b.  ☐

 

  3  

SEC Use Only

 

  4  

Source of Funds (See Instructions)

 

PF

  5  

Check Box If Disclosure of Legal Proceedings Is Required Pursuant to Items 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

 

462,384

       8   

Shared Voting Power

 

0

       9   

Sole Dispositive Power

 

462,384

     10   

Shared Dispositive Power

 

0

11  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

462,384(1)

12  

Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

 

13  

Percent of Class Represented By Amount in Row (11)

 

0.7%(2)

14  

Type of Reporting Person (See Instructions)

 

    IN          


CUSIP No. 760416107   SCHEDULE 13D   Page 9 of 10

 

This Amendment No. 25 (“Amendment No. 25”) amends the statement on Schedule 13D filed with the Securities and Exchange Commission (the “SEC”) on January 31, 2022, as amended prior to the date of this Amendment No. 25 (the “Original Schedule 13D”) as specifically set forth herein (as so amended, the “Schedule 13D”). Except as provided herein, each Item of the Original Schedule 13D remains unchanged.

 

Item 4.

Purpose of the Transaction.

Item 4 of the Original Schedule 13D is hereby amended to add the following immediately prior to the last paragraph of this item:

On November 11, 2022, Philip A. Norcross delivered a nomination notice to the Secretary of the Issuer nominating Gregory B. Braca (the “Nominee”) for election to the Board at the Issuer’s 2022 annual meeting of shareholders. The Reporting Persons believe that the Nominee has the qualifications, experience and skill set necessary to serve as a director of the Issuer.


CUSIP No. 760416107   SCHEDULE 13D   Page 10 of 10

 

SIGNATURES

After reasonable inquiry and to the best of my knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

Date: November 14, 2022

 

George E. Norcross, III
By:   /s/ George E. Norcross, III
Avery Conner Capital Trust
By:   /s/ Philip A. Norcross
Name:   Philip A. Norcross
Title:   Trustee
Philip A. Norcross
By:   /s/ Philip A. Norcross
Susan D. Hudson
By:   /s/ Susan D. Hudson
Geoffrey B. Hudson
By:   /s/ Geoffrey B. Hudson
Rose M. Guida
By:   /s/ Rose M. Guida
Gregory B. Braca
By:   /s/ Gregory B. Braca