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.
"Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise"
- Peter Lynch
What is insider trading>>
- Peter Lynch
What is insider trading>>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 12)*
PHOTRONICS, INC.
-------------------------------------------------------------------------------
(Name of Issuer)
COMMON STOCK, $0.01 Par Value
-------------------------------------------------------------------------------
(Title of Class of Securities)
719405102
-------------------------------------------------------------------------------
(CUSIP Number)
August 14, 2012
-------------------------------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
CHECK THE APPROPRIATE BOX TO DESIGNATE THE RULE PURSUANT TO WHICH THIS SCHEDULE
IS FILED:
[X] RULE 13D-1(B)
[ ] RULE 13D-1(C)
[ ] RULE 13D-1(D)
*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 (THE "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).
Page 1 of 11 Pages
CUSIP NO. 719405102
---------
- --------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Bay Resource Partners, L.P.
- --------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF NONE
SHARES
BENEFICIALLY -------------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH
REPORTING 587,600
PERSON -------------------------------------------------
WITH 7 SOLE DISPOSITIVE POWER
NONE
-------------------------------------------------
8 SHARED DISPOSITIVE POWER
587,600
- --------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
587,600
- --------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ] (SEE INSTRUCTIONS)
- --------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 1.0%
- --------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
PN
- --------------------------------------------------------------------------
Page 2 of 11 Pages
CUSIP NO. 719405102
---------
- --------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Bay II Resource Partners, L.P.
- --------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF NONE
SHARES
BENEFICIALLY -------------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH
REPORTING 643,100
PERSON -------------------------------------------------
WITH 7 SOLE DISPOSITIVE POWER
NONE
-------------------------------------------------
8 SHARED DISPOSITIVE POWER
643,100
- --------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
643,100
- --------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ] (SEE INSTRUCTIONS)
- --------------------------------------------------------------------------
11 PERCENTAGE OF CLASS REPRESENTED BY AMOUNT IN ROW 9 1.1%
- --------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
PN
- --------------------------------------------------------------------------
Page 3 of 11 Pages
CUSIP NO. 719405102
---------
- --------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Bay Resource Partners Offshore Master Fund, L.P.
- --------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
- --------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF NONE
SHARES
BENEFICIALLY -------------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH
REPORTING 1,219,447
PERSON -------------------------------------------------
WITH 7 SOLE DISPOSITIVE POWER
NONE
-------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,219,447
- --------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,219,447
- --------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ] (SEE INSTRUCTIONS)
- --------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 2.0%
- --------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
PN
- --------------------------------------------------------------------------
Page 4 of 11 Pages
CUSIP NO. 719405102
---------
- --------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
GMT Exploration Company LLC
- --------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
State of Delaware
- --------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF NONE
SHARES
BENEFICIALLY -------------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH
REPORTING 17,000
PERSON -------------------------------------------------
WITH 7 SOLE DISPOSITIVE POWER
NONE
-------------------------------------------------
8 SHARED DISPOSITIVE POWER
17,000
- --------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
17,000
- --------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ] (SEE INSTRUCTIONS)
- --------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 0.0%
- --------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO
- --------------------------------------------------------------------------
Page 5 of 11 Pages
CUSIP NO. 719405102
---------
- --------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
GMT Capital Corp.
- --------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
State of Georgia
- --------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF NONE
SHARES
BENEFICIALLY -------------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH
REPORTING 2,480,847
PERSON -------------------------------------------------
WITH 7 SOLE DISPOSITIVE POWER
NONE
-------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,480,847
- --------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,480,847
- --------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ] (SEE INSTRUCTIONS)
- --------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 4.1%
- --------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IA
- --------------------------------------------------------------------------
Page 6 of 11 Pages
CUSIP NO. 719405102
---------
- --------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Thomas E. Claugus
- --------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 89,600
SHARES
BENEFICIALLY -------------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH
REPORTING 2,497,847
PERSON -------------------------------------------------
WITH 7 SOLE DISPOSITIVE POWER
89,600
-------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,497,847
- --------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,587,447
- --------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ] (SEE INSTRUCTIONS)
- --------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 4.3%
- --------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN
- --------------------------------------------------------------------------
Page 7 of 11 Pages
ITEM 1(A) NAME OF ISSUER:
PHOTRONICS, INC.
ITEM 1(B) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
15 Secor Road
Brookfield, CT 06804
ITEM 2(a) NAME OF PERSON FILING:
(i) Bay Resource Partners, L.P. (Bay), with respect to shares of
Common Stock directly owned by it.
(ii) Bay II Resource Partners, L.P. (Bay II), with respect to
shares of Common Stock directly owned by it.
(iii) Bay Resource Partners Offshore Master Fund, L.P. (Offshore
Fund) with respect to shares of Common Stock directly owned by
by it, as the successor to Bay Resource Partners Offshore Fund,
Ltd.
(iv) GMT Exploration Company LLC (GMT Exploration) with respect to
shares of Common Stock directly owned by it.
(v) GMT Capital Corp. (GMT Capital) with respect to shares of
Common Stock beneficially owned by it.
(vi) Thomas E. Claugus, (Mr. Claugus), with respect to the shares
of Common Stock directly owned by him and directly owned by
each of Bay, Bay II, the Offshore Fund, GMT Capital separate
client accounts and GMT Exploration.
The foregoing persons are hereinafter sometimes collectively
referred to as the Reporting Persons. Any disclosures herein with
respect to persons other than the Reporting Persons are made on
information and believe after making inquiry to the appropriate
party.
ITEM 2(b) ADDRESS OF PRINCIPAL BUSINESS OFFICE, OR IF NONE, RESIDENCE:
The address of the business office of each of the Reporting Persons
is 2300 Windy Ridge Parkway, Ste. 550 South, Atlanta, GA 30339
ITEM 2(c) CITIZENSHIP:
Bay and Bay II are limited partnerships organized under the laws of
the State of Delaware. The Offshore Fund is an exempted limited
partnership organized under the laws of the Cayman Islands.
GMT Exploration is a Delaware limited liability company. GMT Capital
is a Georgia corporation. Mr. Claugus is a United States citizen.
ITEM 2(d) TITLE OF CLASS OF SECURITIES:
Common Stock, $0.01 par value
ITEM 2(e) CUSIP NUMBER:
719405102
Page 8 of 11 Pages
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SS.240.13D-1(B) OR SS.
240.13d-2(B) or (C), CHECK WHETHER THE PERSON FILING IS A:
(a) [ ] Broker or dealer registered under section 15 of the Act (15
U.S.C. 78o).
(b) [ ] Bank as defined in section 3(a)(6) of the Act
(15 U.S.C. 78c).
(c) [ ] Insurance company as defined in section 3(a)(19) of the Act
(15 U.S.C. 78c).
(d) [ ] Investment company registered under section 8 of the
Investment Company Act of 1940 (15 U.S.C. 80a-8).
(e) [X] An investment adviser in accordance with
ss.240.13d-1(b)(1)(ii)(E);
(f) [ ] An employee benefit plan or endowment fund in accordance with
ss.240.13d-1(b)(1)(ii)(F);
(g) [ ] A parent holding company or control person in accordance with
ss.240.13d-1(b)(1)(ii)(G);
(h) [ ] A savings associations as defined in Section 3(b) of the
Federal Deposit Insurance Act (12 U.S.C. 1813);
(i) [ ] A church plan that is excluded from the definition of an
investment company under section 3(c)(14) of the Investment
Company Act of 1940 (15 U.S.C. 80a-3);
(j) [ ] Group, in accordance with ss.240.13d-1(b)(1)(ii)(J).
ITEM 4. OWNERSHIP:
This Amendment No. 12 (Amendment No. 12) amends and supplements
Amendment No. 11 to Schedule 13G filed with the Securities and
Exchange Commission (SEC) on June 13, 2012, which amended and
Amendment No. 10 to Schedule 13G filed with the SEC on
March 22, 2012, which amended and supplemented Amendment No. 9 to
Schedule 13G filed with the SEC on February 21, 2012, which
amended and supplemented Amendment No. 8 to Schedule 13G filed
with the SEC on June 15, 2011, which amended and supplemented
Amendment No. 7 to Schedule 13G filed with the SEC on
April 5, 2011, which amended and supplemented Amendment No. 6 to
Schedule 13G filed with the SEC on July 23, 2010, which amended
and supplemented Amendment No. 5 to Schedule 13G filed with the
SEC on May 26, 2010, which amended and supplemented Amendment
No. 4 to Schedule 13G filed with the SEC on December 23, 2009,
which amended and supplemented Amendment No. 3 to Schedule 13G
filed with the SEC on December 2, 2009, which amended and
supplemented Amendment No. 2 to Schedule 13G filed with the SEC
on November 12, 2009, which amended and supplemented Amendment
No. 1 to Schedule 13G filed with the SEC on October 30, 2009,
which amended and supplemented the Schedule 13G originally filed
with the SEC on October 14, 2009 by the Reporting Persons. This
Statement is being filed with respect to an aggregate of 2,587,447
shares of Common Stock, resulting in beneficial ownership of
Common Stock as follows:
Page 9 of 11 Pages
1. Bay Resource Partners, L.P.,
(a) Amount Beneficially owned: 587,600
(b) Percent of Class: 1.0%
The percentages used herein and in the rest of Item 4 are
calculated based on 60,391,283 shares of Common Stock
outstanding as of June 1, 2012, as disclosed in the
Issuer's Quarterly Report (10-Q) for the quarterly period
ended April 29, 2012, filed with the SEC on June 6, 2012.
(c) (i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 587,600
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: 587,600
2. Bay II Resource Partners, L.P.
(a) Amount Beneficially owned: 643,100
(b) Percent of Class: 1.1%
(c) (i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 643,100
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: 643,100
3. Bay Resource Partners Offshore Master Fund, L.P.
(a) Amount Beneficially owned: 1,219,447
(b) Percent of Class: 2.0%
(c) (i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 1,219,447
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: 1,219,447
4. GMT Exploration Company LLC
(a) Amount Beneficially owned: 17,000
(b) Percent of Class: 0.00%
(c) (i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 17,000
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: 17,000
5. GMT Capital Corp.
(a) Amount Beneficially owned: 2,480,847
(b) Percent of Class: 4.1%
(c) (i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 2,480,847
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: 2,480,847
6. Thomas E. Claugus
(a) Amount Beneficially owned: 2,587,447
(b) Percent of Class: 4.3%
(c) (i) Sole power to vote or direct the vote: 89,600
(ii) Shared power to vote or direct the vote: 2,497,847
(iii) Sole power to dispose or direct the disposition: 89,600
(iv) Shared power to dispose or direct the disposition: 2,497,847
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS. If this statement is
being filed to report the fact that as of the date hereof the
reporting person has ceased to be the beneficial owner of more than
5 percent of the class of securities, check the following [X]
Page 10 of 11 Pages
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON
N/A
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY OR
CONTROL PERSON. N/A
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
See Item 2.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP.
N/A
ITEM 10. CERTIFICATION.
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired and are held in the
ordinary course of business and were not acquired and are not held for the
purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect,
other than activities solely in connection with a nomination under 240.14a11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge
and belief, I hereby certify that the information set forth in this statement
is true, complete and correct.
August 16, 2012 /s/ George E. Case, III
----------------------------------
George E. Case, III, as Vice
President of GMT Capital Corp.,
for itself and as the general
partner of (i) Bay Resource
Partners, L.P. and (ii) Bay II
Resource Partners, L.P., and
for the investment manager of
(iii) Bay Resource Partners
Offshore Master Fund, L.P. and
(iv) certain other accounts and
for Thomas E. Claugus
Page 11 of 11 Pages