-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Uaau22PxqSAzFch971/ZIYLgd4w0pJ1hpccpTg9WZ70re/sgTNOCH451hK993t89 YY9PxtpTOUii3ry+rHJE+w== 0001026081-10-000020.txt : 20100707 0001026081-10-000020.hdr.sgml : 20100707 20100707140849 ACCESSION NUMBER: 0001026081-10-000020 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20100707 DATE AS OF CHANGE: 20100707 GROUP MEMBERS: 2514 MULTI-STRATEGY FUND, LP GROUP MEMBERS: BROAD PARK INVESTORS, LLC GROUP MEMBERS: CBPS, LLC GROUP MEMBERS: CONTRARIAN HEDGED EQUITY, LP GROUP MEMBERS: LAWRENCE SEIDMAN GROUP MEMBERS: LSBK06-08, LLC GROUP MEMBERS: SEIDMAN AND ASSOCIATES, LLC GROUP MEMBERS: SEIDMAN INVESTMENT PARTNERSHIP II, LP GROUP MEMBERS: SEIDMAN INVESTMENT PARTNERSHIP, LP FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: SEIDMAN LAWRENCE B CENTRAL INDEX KEY: 0001026081 STATE OF INCORPORATION: NJ FILING VALUES: FORM TYPE: SC 13D MAIL ADDRESS: STREET 1: LANIDEX CENTER STREET 2: 100 MISTY LANE P O BOX 5430 CITY: PARSIPPANY STATE: NJ ZIP: 07054 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: OBA Financial Services, Inc. CENTRAL INDEX KEY: 0001471088 STANDARD INDUSTRIAL CLASSIFICATION: SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035] IRS NUMBER: 000000000 STATE OF INCORPORATION: MD FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-85336 FILM NUMBER: 10941578 BUSINESS ADDRESS: STREET 1: 20300 SENECA MEADOWS PARKWAY CITY: GERMANTOWN STATE: MD ZIP: 20876 BUSINESS PHONE: (301) 916-0742 MAIL ADDRESS: STREET 1: 20300 SENECA MEADOWS PARKWAY CITY: GERMANTOWN STATE: MD ZIP: 20876 SC 13D 1 schedule13damend1.htm OBA FINANCIAL SERVICES INC. SCHEDULE 13D Unassociated Document

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
 
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
 


OBA Financial Services Inc.

(Name of Issuer)

Common Stock
(Title of Class of Securities)

67424G101

(CUSIP Number)
 
Lawrence B. Seidman, 100 Misty Lane, 1st Floor, Parsippany, NJ  07054
(973) 952-0405

(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)

July 6, 2010
(Date of Event which Requires Filling of this Statement)


If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of ·· 240.13d-1(e), 240.13d-1 (f) or 240.13d-1(g), check the following box.   (    )

 
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See · 240.13d-7 for other parties to whom copies are to be sent.
 
* 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 ("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 13D
CUSIP No. 67424G101

  1. Seidman and Associates, LLC       22-3343079

  2. Check the Appropriate Box if a Member of a Group*
(a.)  (X)       (b.)  (   )

  3. SEC USE ONLY

  4.   
Source of Funds*
                      WC

  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to items 2(d) or 2(e)  (    )

  6.
Citizenship or Place of Organization
                      New Jersey

Number of
Shares
Beneficially
Owned by
Each Reporting
Person With
7. Sole Voting Power          31,361
                  

8. Shared Voting Power

9. Sole Dispositive Power       31,361
                  

10. Shared Dispositive Power

  11. Aggregate Amount Beneficially Owned by Each Reporting Person    31,361   
                     

  12. Check if the Aggregate Amount Represented by Amount in Row (11) Excludes Certain Shares
(See Instructions)   (    )

  13.
Percent of Class Represented by Amount in Row (11)    0.68%   
                                        

  14. Type of Reporting Person                        OO
 
 
 
1

 
 
 
SCHEDULE 13D
CUSIP No. 67424G101

  1. Seidman Investment Partnership, LP       22-3360359

  2. Check the Appropriate Box if a Member of a Group*
(a.)  (X)       (b.)  (   )

  3. SEC USE ONLY

  4.   
Source of Funds*
                      WC

  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to items 2(d) or 2(e)  (    )

  6.
Citizenship or Place of Organization
                      New Jersey

Number of
Shares
Beneficially
Owned by
Each Reporting
Person With
7. Sole Voting Power          31,051         
                  

8. Shared Voting Power

9. Sole Dispositive Power       31,051      
                  

10. Shared Dispositive Power

  11. Aggregate Amount Beneficially Owned by Each Reporting Person       31,051   
                     

  12. Check if the Aggregate Amount Represented by Amount in Row (11) Excludes Certain Shares
(See Instructions)   (    )

  13.
Percent of Class Represented by Amount in Row (11)       0.67%   
                      

  14. Type of Reporting Person                        PN
 
 
 
2

 
 
SCHEDULE 13D
CUSIP No. 67424G101

  1. Seidman Investment Partnership II, LP       22-3603662

  2. Check the Appropriate Box if a Member of a Group*
(a.)  (X)       (b.)  (   )

  3. SEC USE ONLY

  4.   
Source of Funds*
                      WC

  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to items 2(d) or 2(e)  (    )

  6.
Citizenship or Place of Organization
                      New Jersey

Number of
Shares
Beneficially
Owned by
Each Reporting
Person With
7. Sole Voting Power       32,593         
                  

8. Shared Voting Power

9. Sole Dispositive Power       32,593      
                  

10. Shared Dispositive Power

  11. Aggregate Amount Beneficially Owned by Each Reporting Person       32,593   
                     

  12. Check if the Aggregate Amount Represented by Amount in Row (11) Excludes Certain Shares
(See Instructions)   (    )

  13.
Percent of Class Represented by Amount in Row (11)       0.70%   
                      

  14. Type of Reporting Person                        PN
 
 
 
3

 
 
 
SCHEDULE 13D
CUSIP No. 67424G101

  1. LSBK06-08, LLC    20-8067445

  2. Check the Appropriate Box if a Member of a Group*
(a.)  (X)       (b.)  (   )

  3. SEC USE ONLY

  4.   
Source of Funds*
                      WC

  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to items 2(d) or 2(e)  (    )

  6.
Citizenship or Place of Organization
                      New Jersey

Number of
Shares
Beneficially
Owned by
Each Reporting
Person With
7. Sole Voting Power       32,292         
                  

8. Shared Voting Power

9. Sole Dispositive Power       32,292      
                  

10. Shared Dispositive Power

  11. Aggregate Amount Beneficially Owned by Each Reporting Person       32,292   
                     

  12. Check if the Aggregate Amount Represented by Amount in Row (11) Excludes Certain Shares
(See Instructions)   (    )

  13.
Percent of Class Represented by Amount in Row (11)          0.70%    
                                       

  14. Type of Reporting Person                        OO
 
 
4
 

 
 
SCHEDULE 13D
CUSIP No. 67424G101

  1.  Broad Park Investors, LLC       22-6759307

  2. Check the Appropriate Box if a Member of a Group*
(a.)  (X)       (b.)  (   )

  3. SEC USE ONLY

  4.   
Source of Funds*
                      WC

  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to items 2(d) or 2(e)  (    )

  6.
Citizenship or Place of Organization
                      New Jersey

Number of
Shares
Beneficially
Owned by
Each Reporting
Person With
7. Sole Voting Power       31,795         
                  

8. Shared Voting Power

9. Sole Dispositive Power       31,795      
                  

10. Shared Dispositive Power

  11. Aggregate Amount Beneficially Owned by Each Reporting Person       31,795   
                     

  12. Check if the Aggregate Amount Represented by Amount in Row (11) Excludes Certain Shares
(See Instructions)   (    )

  13.
Percent of Class Represented by Amount in Row (11)       0.69%   
                     

  14. Type of Reporting Person                        OO
 
 
 
5

 
 
 
SCHEDULE 13D
CUSIP No. 67424G101

  1. CBPS, LLC       27-0949811

  2. Check the Appropriate Box if a Member of a Group*
(a.)  (X)       (b.)  (   )

  3. SEC USE ONLY

  4.   
Source of Funds*
                   WC                              

  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to items 2(d) or 2(e)  (    )

  6.
Citizenship or Place of Organization     New York
                     

Number of
Shares
Beneficially
Owned by
Each Reporting
Person With
7. Sole Voting Power       32,060                                

8. Shared Voting Power

9. Sole Dispositive Power       32,060                              

10. Shared Dispositive Power

  11. Aggregate Amount Beneficially Owned by Each Reporting Person       32,060           

  12. Check if the Aggregate Amount Represented by Amount in Row (11) Excludes Certain Shares
(See Instructions)   (    )

  13.
Percent of Class Represented by Amount in Row (11)          0.69%            
                      

  14. Type of Reporting Person                               OO
 
 
 
6

 
 
SCHEDULE 13D
CUSIP No. 67424G101

  1. 2514 Multi-Strategy Fund, LP    51-0511786

  2. Check the Appropriate Box if a Member of a Group*
(a.)  (X)       (b.)  (   )

  3. SEC USE ONLY

  4.   
Source of Funds*
                      WC                    

  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to items 2(d) or 2(e)  (    )

  6.
Citizenship or Place of Organization          Florida
                     

Number of
Shares
Beneficially
Owned by
Each Reporting
Person With
7. Sole Voting Power          30,770            

8. Shared Voting Power

9. Sole Dispositive Power             30,770          

10. Shared Dispositive Power

  11. Aggregate Amount Beneficially Owned by Each Reporting Person    30,770                     

  12. Check if the Aggregate Amount Represented by Amount in Row (11) Excludes Certain Shares
(See Instructions)   (    )

  13.
Percent of Class Represented by Amount in Row (11)       0.66%            
                      

  14. Type of Reporting Person               PN                       
 
 
 
 
7

 
 
SCHEDULE 13D
CUSIP No. 67424G101

  1. Lawrence B. Seidman       ###-##-####

  2. Check the Appropriate Box if a Member of a Group*
(a.)  (X)       (b.)  (   )

  3. SEC USE ONLY

  4.   
Source of Funds*
                      PF, WC

  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to items 2(d) or 2(e)  (    )

  6.
Citizenship or Place of Organization
                      New Jersey

Number of
Shares
Beneficially
Owned by
Each Reporting
Person With
7. Sole Voting Power          253,012  
                  

8. Shared Voting Power

9. Sole Dispositive Power       253,012      
                  

10. Shared Dispositive Power

  11. Aggregate Amount Beneficially Owned by Each Reporting Person    253,012   
                     

  12. Check if the Aggregate Amount Represented by Amount in Row (11) Excludes Certain Shares
(See Instructions)   (    )

  13.
Percent of Class Represented by Amount in Row (11)    5.47%   
                       

  14. Type of Reporting Person                        IN
 
 
8
 

 
 
 
This statement on Schedule 13D which was filed on May 26, 2010, on behalf of Seidman and Associates, LLC ("SAL"), Seidman Investment Partnership, LP ("SIP"), Seidman Investment Partnership II, LP ("SIPII"), Broad Park Investors, LLC ("Broad Park"), LSBK06-08, LLC ("LSBK"), CBPS, LLC ("CBPS"), 2514 Multi-Strategy Fund, LP ("2514 MSF"), Contrarian Hedged Equity, LP ("Contrarian"), and Lawrence Seidman ("Seidman"), collectively the "Reporting Persons" with respect to the Reporting Persons' beneficial ownership of shares of common stock ("the Shares") of OBA Financial Services, Inc., a Maryland corporation ("the Issuer") is hereby amended as set forth below:  Such statement on Schedule 13D is hereinafter referred to as the "Schedule 13D".  Terms used herein which are defined in the Schedule 13D shall have their respective meanings set forth in the Schedule 13D.
 
4. Purpose of Transaction
 
On July 6, 2010, Lawrence Seidman sent a letter to Charles Weller, President of the Issuer regarding the Issuer's Stock-Based Benefit Plans.  A copy of this letter is attached hereto as Exhibit A.
 
5. Interest in Securities of the Issuer

(a)(b)(c) As of the close of business on July 6, 2010, the Reporting Persons owned beneficially an aggregate of 253,012 shares of Common Stock, which constituted approximately 5.47% of the 4,628,750 shares of Common Stock outstanding as of May 13, 2010, as disclosed in the Issuer's 10-Q for the period ended March 31, 2010.
 
The attached Schedule A describes transactions in the Common Stock effected by the Reporting Persons within the past sixty (60) days except for previously reported transactions. Except as set forth in this Item 5, none of the Reporting Persons owns beneficially or has a right to acquire beneficial ownership of any Common Stock.   
 
9

 
 
 
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.
 
 
Date:   July 7, 2010
  /ss/ Lawrence B. Seidman
 
Lawrence B. Seidman, Manager,
Seidman and Associates, LLC
     
  /ss/ Lawrence B. Seidman
  Lawrence B. Seidman, President of the Corporate General Partner, Seidman Investment Partnership, LP
   
   /ss/ Lawrence B. Seidman
   Lawrence B. Seidman, President of the Corporate General Partner, Seidman Investment Partnership II, LP
   
 
 /ss/ Lawrence B. Seidman
  Lawrence B. Seidman, Investment Manager, LSBK06-08, LLC
   
   /ss/ Lawrence B. Seidman
  Lawrence B. Seidman, Investment Manager, Broad Park Investors, LLC
   
  /ss/ Lawrence B. Seidman
 
 Lawrence B. Seidman, Investments Manager, CBPS, LLC
   
   /ss/ Lawrence B. Seidman
   Lawrence B. Seidman, Investments Manager, 2514 Multi-Strategy Fund, LP
   
   /ss/ Lawrence B. Seidman
   Lawrence B. Seidman, Investments Manager, Contrarian Hedged Equity, LP
   
   /ss/ Lawrence B. Seidman
   Lawrence B. Seidman, Individually
 
 
10
 

 
Schedule A
 
Entity
Date Purch
Cost per Share
Cost
Shares
SAL
5/19/2010
10.9162
13,503.30
1,237
         
         
SIP
5/19/2010
10.9162
13,503.30
1,237
         
         
SIP II
5/20/2010
10.8552
25,933.01
2,389
         
         
LSBK
5/20/2010
10.8551
26,052.32
2,400
         
         
Broad Park Investors
5/20/2010
10.8468
26,032.32
2,400
         
         
CBPS
5/20/2010
10.8468
26,032.32
2,400
         
         
2514 MSF
5/25/2010
10.8100
17,296.00
1,600
 
 
 
11

 
 
Exhibit A
LAWRENCE B. SEIDMAN
Ivy Corporate Park
100 Misty Lane, 1st Floor
Parsippany, NJ 07054
(973) 952-0405
(973) 781-0876 fax
July 6, 2010


Mr. Charles Weller, President
OBA Financial Services, Inc.
20300 Seneca Meadows Parkway
Germantown, MD 20876

Re: Stock-Based Benefit Plans

Dear Mr. Weller:

I want to thank you for taking the time to speak with me by telephone on two separate occasions.  Our two phone conversations allowed me to voice my concerns with respect to the stock-based benefit plans disclosed in the OBA Financial Services, Inc. (“OBA”) prospectus dated November 12, 2009.

As discussed, when the stock-based benefit plans are presented to the shareholders for approval, the shareholders should be told how the options and restricted stock will be initially distributed.  Furthermore, no additional shares should be distributed until OBA’s management can demonstrate that they are meeting or exceeding the disclosed performance standards.  As I stated to you, it is wrong to ask the shareholders to approve the stock-based benefit plan and then have the Board shortly thereafter distributing the options and restricted stock, in previously undisclosed amounts.  Why can’t the Board meet and determine how the options and restricted stock are to be distributed before seeking shareholder approval?  This procedure would a llow the shareholders to make an informed decision.

I am not opposed to a properly structured stock-based benefit plan that aligns the interests of OBA’s management with that of the OBA shareholders.  However, in order to be properly structured the stock-based benefit plans must include realistic performance standards.  The performance standards must be fully disclosed to the shareholders when they are asked to approve the stock-based benefit plans.  I would be glad to discuss with you different performance standards that I feel reward management while also enhancing shareholder value.

In addition, there must be a detailed clawback provision, that is also fully disclosed when the shareholders vote to approve the plans, which becomes operative if the performance standards are not met.

I am hopeful that we can work together to create a mutually beneficial stock-based benefit plan.  As I mentioned to you during our phone calls, if we cannot reach an agreement with respect to the stock-based benefit plans, I will have no choice but to conduct a proxy contest against the approval of the OBA stock-based benefit plans that does not truly align management and shareholders and does not provide adequate disclosure to the shareholders.

Based upon your receipt of notice of a possible proxy contest with respect to OBA’s stock-based benefit plan, you must file preliminary proxy material and cannot file definitive proxy material with respect to any shareholder meeting at which the stock-based benefit plans will be considered by the OBA shareholders.

Please call me to discuss this issue in more detail.


              Very truly yours,

                                       /ss/ LAWRENCE B. SEIDMAN

 
12 

 

 
 
 
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