Item 4 is amended to read as follows:
On October 31, 2011 Mrs. and Mr. Crites purchased 2,000 Shares of Summit Financial Group, Inc. 8% NonCumulative Convertible Preferred Stock, Series 2011 (the "Summit Series 2011 Preferred Stock").
On June 30, 2014, Mrs. Crites and her spouse transferred a total of 1,503 Shares of Summit Series 2011 Preferred Stock to nine subtrusts created to support the future health, maintenance and education of their grandchildren. Mrs. Crites and her spouse are cotrustees for seven of the nine subtrusts and also have the power to vote the Shares of Summit common stock owned by the nine subtrusts, including the two subtrusts for which they do not act as cotrustees.
Under the terms of the Summit Series 2011 Preferred Stock, Mrs. and Mr. Crites have the right to convert the Summit Series 2011 Preferred Stock on any dividend payment date, at their option, into Shares of Common Stock based on a conversion rate determined by dividing $500 by $4.00. The dividend payment dates are March 1, June 1, September 1 and December 1 of each year (each "Dividend Payment Date”).
As of March 2, 2015, neither Mr. and Mrs. Crites nor the trustee of the two subtrusts exercised their rights to convert, in whole or in part, the Summit Series 2011 Preferred Stock. However, Mr. and Mrs. Crites continue to have beneficial ownership of the Shares as a result of the receipt of notice from Summit Financial Group, Inc., that it will convert all of its outstanding shares of preferred stock, including the Summit Series 2011 Preferred Stock on March 12, 2015. (a) No Change (b) No Change (c) No Change (d) No Change (e) No Change (f) No Change (g) No Change (h) No Change (i) No Change (j) No Change Item 5.
Interest
in Securities of the Issuer
(a) No Change (b) Item 5(b) is amended to read as follows:
Mrs. Crites has sole voting and dispositive power over none of the Shares. She shares voting and dispositive power over 220,620 Shares with her husband, John Crites, which includes 69,000 Shares of Common Stock held in six subtrusts created for the benefit of the Crites grandchildren, for which Mrs. and Mr. Crites act as cotrustees as described in Item 6 below, 124,320 Shares owned individually by Mrs. Crites, and 27,300 Shares individually owned by Mr. Crites.
Mrs. Crites disclaims and does not report beneficial ownership over 169,956 Shares of Common Stock over which Mr. Crites exercises sole voting and dispositive power, which includes 71,059 Shares owned by The Patricia A. Crites 2010 Grantor Retained Annuity Trust, for which he is trustee and 98,897 Shares of Common Stock owned by the Patricia A. Crites 2012 Grantor Retained Annuity Trust.
John Crites is a citizen of the United States and is a principal Shareholder and Chairman of Allegheny Wood Products, Inc., a company engaged in the hardwood manufacturing and sales business. Allegheny Wood Products, Inc. is located at P. O. Box 867, Airport Road, Petersburg, West Virginia 26847.
Mrs. Crites also shares voting power but not dispositive over 158,240 of the Shares with her husband, John Crites, under two trusts, for the benefit of their grandchildren as described in Item 6 below.
During the last five years, Mrs. Crites has not been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) nor has Mrs. Crites been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction as a result of which any such person was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. Mrs. Crites is a citizen of the United States. (c) No Change Transaction Date Shares or Unites Purchased (Sold) Price Per Share or Unit (d) Item 5(d) is amended to read as follows:
Mrs. Crites’ spouse has the right to receive or the power to direct the receipt of dividends from the sale of 151,620 of the Shares jointly and beneficially owned by them.
In his capacity as cotrustee of six subtrusts described in Item 6, below, Mr. Crites also has the power to direct the receipt of dividends from, or the right to receive the proceeds from the sale of 69,000 of the Shares.
The trustee of two of the subtrusts described in Item 6, below, has the power to direct the receipt of dividends from, or the right to receive the proceeds from the sale of 158,240 Shares
As trustee of the Patricia A. Crites 2010 Grantor Retained Annuity Trust and the Patricia A. Crites 2012 Grantor Annuity Trust, Mr. Crites has the right to receive the dividends from or the proceeds of the sale of an aggregate of 169,956 Shares of Summit Common Stock. (e) Not Applicable. Item 6.
Contracts,
Arrangements, Understandings or Relationships with Respect to Securities
of the Issuer
No Change Item 7.
Material
to Be Filed as Exhibits
None