Sec Form 4 Filing - Coliseum Capital Management, LLC @ PROVIDENCE SERVICE CORP - 2016-03-14

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Coliseum Capital Management, LLC
2. Issuer Name and Ticker or Trading Symbol
PROVIDENCE SERVICE CORP [ PRSC]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X __ Director X __ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last) (First) (Middle)
METRO CENTER, 1 STATION PLACE, 7TH FLOOR SOUTH
3. Date of Earliest Transaction (MM/DD/YY)
03/14/2016
(Street)
STAMFORD, CT06902
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
_____ Form filed by One Reporting Person
__ X __ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 03/14/2016 M 2,065 ( 1 ) ( 2 ) ( 3 ) A $ 0 ( 1 ) 2,224,366 I See Footnote ( 4 )
Common Stock 03/14/2016 D 2,065 ( 1 ) ( 2 ) ( 3 ) D $ 53.57 ( 1 ) 2,222,301 I See Footnote ( 4 )
Common Stock 03/15/2016 S 42,075 D $ 53.05 ( 5 ) 2,180,226 I See Footnote ( 4 )
Common Stock 03/16/2016 S 36,344 D $ 52.2 ( 6 ) 2,143,882 I See Footnotes ( 4 ) ( 7 )
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(MM/DD/YY)
7. Title and Amount of Underlying Secur ities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Phantom Stock ( 1 ) 03/14/2016 M 2,065 03/14/2016 03/14/2016 Common Stock 2,065 $ 0 ( 1 ) 0 I See Footnote ( 3 )
Phantom Stock ( 1 ) 03/14/2016 A 3,360 ( 8 ) ( 8 ) Common Stock 3,360 $ 0 3,360 I See Footnote ( 3 )
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Coliseum Capital Management, LLC
METRO CENTER
1 STATION PLACE, 7TH FLOOR SOUTH
STAMFORD, CT06902
X X
Shackelton Christopher S
METRO CENTER
1 STATION PLACE, 7TH FLOOR,
STAMFORD, CT06902
X X
Coliseum Capital, LLC
METRO CENTER
1 STATION PLACE, 7TH FLOOR,
STAMFORD, CT06902
X X
COLISEUM CAPITAL PARTNERS, L.P.
METRO CENTER
1 STATION PLACE, 7TH FLOOR,
STAMFORD, CT06902
X X
Coliseum Capital Partners II, L.P.
METRO CENTER
1 STATION PLACE, 7TH FLOOR,
STAMFORD, CT06902
X X
Gray Adam
METRO CENTER
1 STATION PLACE, 7TH FLOOR,
STAMFORD, CT06902
X X
Coliseum Capital Co-Invest, L.P.
METRO CENTER
1 STATION PLACE, 7TH FLOOR,
STAMFORD, CT06902
X X
Signatures
Coliseum Capital Management, LLC, By: /s/ Chivonne Cassar, Attorney-in-fact 03/16/2016
Signature of Reporting Person Date
Christopher Shackelton, By: /s/ Chivonne Cassar, Attorney-in-fact 03/16/2016
Signature of Reporting Person Date
Coliseum Capital, LLC, By: /s/ Chivonne Cassar, Attorney-in-fact 03/16/2016
Signature of Reporting Person Date
Coliseum Capital Partners, L.P., By: Coliseum Capital, LLC, its General Partner, By: /s/ Chivonne Cassar, Attorney-in-fact 03/16/2016
Signature of Reporting Person Date
Coliseum Capital Partners II, L.P., By: Coliseum Capital, LLC, its General Partner, By: /s/ Chivonne Cassar, Attorney-in-fact 03/16/2016
Signature of Reporting Person Date
Adam Gray, By: /s/ Chivonne Cassar, Attorney-in-fact 03/16/2016
Signature of Reporting Person Date
Coliseum Capital Co-Invest, L.P., By: Coliseum Capital, LLC, its General Partner, By: /s/ Chivonne Cassar, Attorney-in-fact 03/16/2016
Signature of Reporting Person Date
Explanation of Responses:
( 1 )Each share of phantom stock is the economic equivalent of one share of the Issuer's common stock (the "Common Stock"). Each share of phantom stock is entitled to a cash payment equal to the fair market value of one share of the Common Stock as of the payment date based on the closing market price of the Common Stock on such date.
( 2 )The cash settlement of 2,065 shares of phantom stock is reported for purposes of Form 4 as the disposition of the phantom stock and a simultaneous acquisition and disposition of the underlying Common Stock. The phantom stock is entitled to a cash payment equal to the fair market value of one share of the Common Stock as of the payment date, which was $53.57 based on the closing price of the Common Stock on March 14, 2016.
( 3 )The phantom stock was received by Coliseum Capital Partners, L.P. ("CCP") pursuant to an agreement under which Christopher Shackelton ("Shackelton") assigned to CCP the right to receive all compensation (including equity compensation) that Shackelton would otherwise receive as a director of the Issuer. Coliseum Capital, LLC ("CC") serves as the general partner for CCP and Coliseum Capital Partners II, L.P. ("CCP2"); Coliseum Capital Management, LLC ("CCM") serves as investment advisor to CCP and CCP2. Shackelton and Adam Gray ("Gray") are managers of and have an ownership interest in CC and may be deemed to have an indirect pecuniary interest in the phantom stock held by CCP due to CC's right to receive performance-related fees from CCP. Each of Shackelton, Gray, CC, CCM, CCP, CCP2, and Coliseum Capital Co-Invest, L.P. ("CCC") disclaims beneficial ownership of the phantom stock except to the extent of that person's pecuniary interest therein.
( 4 )The Common Stock is held directly by (a) CCP, (b) CCP2 and (c) a separate account investment advisory client of CCM (the "Separate Account"). Shackelton and Gray are managers of and have an ownership interest in each of CCM and CC and may be deemed to have an indirect pecuniary interest in the shares held by the CCP, CCP2 and the Separate Account due to CCM's right to receive performance-related fees from the Separate Acco unt and CC's right to receive performance-related fees from CCP and CCP2. Each of Shackelton, Gray, CCP, CCP2, the Separate Account, CC, CCM and CCC disclaims beneficial ownership of these securities except to the extent of that person's pecuniary interest therein.
( 5 )The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $52.25 to $53.29, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
( 6 )The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $51.95 to $52.50, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
( 7 )Following the transactions reported herein, CCP, CCP2 and the Separate Account directly owned 1,205,313, 326,682, 611,887 shares of Common Stock, respectively.
( 8 )These securities vest in three equal annual installments beginning on March 14, 2017.

Remarks:
Shackelton is a director of the Issuer. As a result, the following persons may be deemed directors by deputization of the Issuer solely for purposes of Section 16 of the Securities Exchange Act of 1934, as amended: CCM; CC; CCP; CCP2; CCC; and Gray.

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