Martin Friedman - 29 Apr 2022 Form 3 Insider Report for OLD POINT FINANCIAL CORP (OPOF)

Role
Other*, 10%+ Owner
Signature
Martin Friedman
Issuer symbol
OPOF
Transactions as of
29 Apr 2022
Net transactions value
$0
Form type
3
Filing time
05 May 2022, 16:04:25 UTC
Previous filing
04 Apr 2022
Next filing
27 Jun 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding OPOF Common Stock 512,121 29 Apr 2022 See footnote F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Martin S Friedman (the "Reporting Person") is the managing member of FJ Capital Management LLC ("FJ Capital"), which is the managing member of and investment adviser to Financial Opportunity Fund LLC ("FOF"), Financial Hybrid Opportunity Fund LLC ("FHOF"), and Financial Hybrid Opportunity SPV 1 LLC ("HSPV"), (FOF, FHOF and HSPV, collectively, the "Funds") and investment adviser to a separately managed account ("SMA), each of which beneficially owns shares of the common stock of the issuer (the "Shares"). As a consequence of a earnings release by the issuer, FOF holds 308,627 Shares (ii) FHOF holds 76,173 Shares, (iii)HSPV holds 112,321 Shares, and (iv) the SMA holds 15,000 Shares. (continued in footnote 2)
F2 (Footnote 1 continued) The Reporting Person, in his capacity as Managing Member of FJ Capital, has voting and dispositive power over the Shares held by the Funds and the SMA. Mr. Friedman disclaims beneficial ownership of the Shares reported herein, and this report shall not be deemed an admission of beneficial ownership of such Shares for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

Remarks:

On April 29, 2022, Old Point Financial Corporation ("OPOF") filed a Form 8-K reporting results for Q1 2022. As a consequence, on May 4, 2022, FJ Capital learned that OPOF had repurchased 122,995 shares pursuant to its authorized share repurchase program (the "Q1 Repurchases"). The Q1 Repurchases resulted in a decrease in the number of such shares issued and outstanding and caused the Reporting Person's ownership to exceed ten percent (10%).