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    SEC Form SC 13G filed by OP Bancorp

    4/28/21 9:00:08 AM ET
    $OPBK
    Major Banks
    Finance
    Get the next $OPBK alert in real time by email
    SC 13G 1 ck1734968-sc13g.htm SC 13G ck1734968-sc13g.htm

     

     

    UNITED STATES

    SECURITIES AND EXCHANGE COMMISSION

    Washington, D.C. 20549

     

    SCHEDULE 13G

    Under the Securities Exchange Act of 1934

    (Amendment No.     )*

     

    OP Bancorp

    (Name of Issuer)

    Common Stock

    (Title of Class of Securities)

    67109R109

    (CUSIP Number)

    December 31, 2020

    (Date of Event Which Requires Filing of this Statement)

     

    Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

    ☐ 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 the disclosures provided in a prior cover page.

    The information required in 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 (“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).

     

     

     


    SCHEDULE 13G

     

    CUSIP No. 67109R109

     

    Page 2 of 2

     

     

     

    (1)

    Names of reporting persons

     

    Brian Choi

    (2)

    Check the appropriate box if a member of a group (see instructions)

     

    (a)  ☐        (b)  ☒

    (3)

    SEC use only

     

     

    (4)

    Citizenship or place of organization

     

    United States of America

    Number of

    (5)

    Sole voting power

     

    950,000 (1)

    shares

    beneficially

    owned by

    (6)

    Shared voting power

     

    0

    each

    reporting

    person

    (7)

    Sole dispositive power

     

    950,000 (1)

    with:

    (8)

    Shared dispositive power

     

    0

    (9)

    Aggregate amount beneficially owned by each reporting person

     

    950,000 (1)

    (10)

    Check if the aggregate amount in Row (9) excludes certain shares (see instructions)

     

    ☐

    (11)

    Percent of class represented by amount in Row (9)

     

    6.33% (2)

    (12)

    Type of reporting person (see instructions)

     

    IN

     

    (1) Represents the sum of (i) 671,785 shares of common stock held by Mr. Choi prior to the Issuer’s initial public offering completed in March 2018 and (ii) 303,215 shares of common stock acquired after the Issuer’s initial public offering. The 303,215 shares of common stock acquired after the Issuer’s initial public offering are comprised of 110,000 shares of common stock acquired in 2018, 60,000 shares of common stock acquired in 2019, and 133,215 shares of common stock acquired in 2020. 70,000 shares of 110,000 share of common stock acquired in 2018, 60,000 shares of common stock acquired in 2019, and 15,000 shares of 133,215 shares of common stock acquired in 2020 were acquired through exercising options and/or vested restricted stock units granted by the Issuer’s equity plan. Mr. Choi gifted 25,000 shares of common stock to family members in 2019.

    (2) Based on 15,016,700 shares of common stock outstanding as of December 31, 2020.

     


     

     

    Item 1.

     

    (a)

    Name of Issuer:
    OP Bancorp

     

    (b)

    Address of Issuer’s Principal Executive Offices:
    1000 Wilshire Blvd., Suite 500

    Los Angeles, CA 90017

     

    Item 2.

     

    (a)

    Name of Person Filing:
    This Schedule statement is being filed by Brian Choi.

     

    (b)

    Address of Principal Business Office:
    Address is 1000 Wilshire Blvd., Suite 500, Los Angeles, CA 90017.

     

    (c)

    Citizenship:
    Mr. Choi is a United States citizen.

     

    (d)

    Title of Class of Securities:
    Common Stock, no par value, of OP Bancorp

     

    (e)

    CUSIP Number:
    67109R109

     

    Item 3.

    Not Applicable.

     

    Item 4.

    Ownership

     

    (a)

    Amount beneficially owned:    950,000

     

    (b)

    Percent of class:    6.33%, which is based on 15,016,700 shares of common stock outstanding as of December 31, 2020

     

    (c)

    Number of shares as to which the person has:

     

     

    (i)

    Sole power to vote or to direct the vote    950,000

     

     

    (ii)

    Shared power to vote or to direct the vote     0

     

     

    (iii)

    Sole power to dispose or to direct the disposition of    950,000

     

     

    (iv)

    Shared power to dispose or to direct the disposition of    0

     

    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 five percent of the class of securities, check the following   ☐

     

    Item 6.

    Ownership of More than Five Percent on Behalf of Another Person

    Not Applicable.

     

    Item 7.

    Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person

     


     

    Not Applicable.

     

    Item 8.

    Identification and Classification of Members of the Group

    Not Applicable.

     

    Item 9.

    Notice of Dissolution of Group

    Not Applicable.

     

    Item 10.

    Certification

    Not Applicable.

     

    Signature

     

    After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

     

    Dated:April 28, 2021

     

    BRIAN CHOI

     

     

    By:

    /s/ Brian Choi

     

     

    Brian Choi

     

     

     

     

     

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