SCHEDULE 13G/A: Thomas A. Satterfield, Jr. Discloses 15.9% Stake in ARK RESTAURANTS CORP.

Thomas A. Satterfield, Jr. has filed an amended Schedule 13G, reporting beneficial ownership of 15.9% of ARK RESTAURANTS CORP.'s common stock as of December 31, 2024.

Summary

• Thomas A. Satterfield, Jr. beneficially owns an aggregate of 574,251 shares of ARK RESTAURANTS CORP. common stock.
• This ownership represents 15.9% of the company's outstanding common stock, based on 3,604,157 shares outstanding as of December 13, 2024.
• Mr. Satterfield holds sole voting and dispositive power over 50,000 shares.
• He holds shared voting and dispositive power over 524,251 shares.
• The shared ownership includes shares held jointly with his spouse, through controlled corporations (Tomsat Investment & Trading Co., Inc.), managed funds (Caldwell Mill Opportunity Fund), and partnerships (A.G. Family L.P.), as well as shares for which he has limited powers of attorney from various family members and associates.

Sentiment

Score: 5

Explanation: The document is a factual disclosure of beneficial ownership and does not contain information that inherently suggests a positive or negative sentiment regarding the company's performance or outlook. It is a neutral regulatory filing.

Risks

• The filing certifies that the securities were not acquired or held for the purpose of changing or influencing the control of the issuer, nor in connection with any transaction having that purpose or effect, other than activities solely in connection with a nomination under Rule 14a-11. This indicates a passive investment intent, reducing immediate risk of hostile takeover or activist pressure from this specific shareholder.

Future Outlook

NA

Management Comments

• Thomas A. Satterfield, Jr. certified that, to the best of his knowledge and belief, the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer, 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 Rule 14a-11.

Industry Context

This filing is a routine disclosure of a significant shareholder's stake in ARK RESTAURANTS CORP., a company operating in the restaurant industry. It does not provide specific insights into broader industry trends or competitive dynamics, but rather details an individual investor's position within the sector.

Related Party Transactions

• 7,500 shares are held jointly with Rebecca S. Satterfield, Mr. Satterfield's spouse.
• 57,301 shares are held by Tomsat Investment & Trading Co., Inc., a corporation controlled by Mr. Satterfield and of which he serves as President.
• 200,000 shares are held by Caldwell Mill Opportunity Fund, which fund is managed by an entity of which Mr. Satterfield owns a 50% interest and serves as Chief Investment Manager.
• 150,000 shares are held by A.G. Family L.P., a partnership managed by a general partner controlled by Mr. Satterfield.
• Mr. Satterfield has limited powers of attorney for voting and disposition purposes with respect to shares held by various family members and associates, including Thomas A. Satterfield, Sr. (32,000 shares), Rebecca S. Satterfield (1,000 shares), Parker Satterfield (2,000 shares), Jeanette Satterfield Kaiser (27,000 shares), Richard W. Kaiser (11,000 shares), Rita Phifer (10,000 shares), Parker Little Trust (1,450 shares), Lola Little Trust (500 shares), Henry Beck (6,000 shares), John and Angela Picton (7,000 shares), Christy Beard (2,500 shares), Pamela Beck (2,000 shares), Paula and Gene Colley (3,000 shares), and Glenna and Jesse Colley (4,000 shares).

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant beneficial owner's stake and the various entities and individuals through which this ownership is structured. This information can influence investor perception of ownership concentration and potential influence.

Key Dates

Keywords

ARK RESTAURANTS CORP., Thomas A. Satterfield Jr., Schedule 13G, Beneficial Ownership, Common Stock, Restaurant Industry, SEC Filing, Shareholder Stake, Investment Disclosure