SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

PICCIRILLO CHARLES

(Last)

(First)

(Middle)

PO BOX 38

(Street)

MADISON

25130

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
SUMMIT FINANCIAL GROUP INC [ SMMF ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
03/12/2015

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	03/12/2015⁽⁷⁾		C		7,500⁽⁴⁾	A	$4	29,308.3969⁽⁵⁾	D
Common Stock	03/12/2015⁽⁷⁾		C		250⁽⁴⁾	A	$4	463.6275⁽⁶⁾	I	By Spouse
Common Stock	03/12/2015⁽⁷⁾		C		18,181⁽³⁾	A	$5.5	18,181	I	By Anggus Enterprises

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Phantom Stock	$0⁽²⁾							⁽¹⁾	⁽¹⁾	Common Stock	7,447.06		7,447.06	D
8% Non-Cumulative Convertible Preferred Stock, Series 2009	$5.5	03/12/2015		C			18,181	03/01/2010	06/01/2019	Common Stock	18,181.81	$0	0⁽³⁾	I	By Anggus Enerprises, Inc.
8% Non-Cumulative Convertible Preferred Stock, Series 2011	$4	03/12/2015		C			250	03/01/2012	06/01/2021	Common Stock	250	$0	0⁽⁴⁾	I	By Spouse
8% Non-Cumulative Convertible Preferred Stock, Series 2011	$4	03/12/2015		C			7,500	03/01/2012	06/01/2021	Common Stock	7,500	$0	0⁽⁴⁾	D

Explanation of Responses:

1. Shares of Phantom Stock are payable only in cash following termination of the reporting person's service as a director of Summit.

2. Each share of Phantom Stock represents the economic equivalent of one share of Summit Common Stock.

3. The 2009 Series Preferred Stock was converted to Common Stock on 3/12/2015/

4. The Series 2011 Preferred Stock was converted to Common Stock on 3/12/2015.

5. The amount of securities beneficially owned at the end of period increased by 200 shares, which were previously reported as indirect ownership (Spouse).

6. The number of shares beneficially owned at the end of the period decreased by 200 shares as these shares are now reported as Direct ownership.

7. This transaction was irreonously reported on 3/16/2015 on a Form 5.

Remarks:

	Teresa D. Ely, Lmtd POA Attorney-in-Fact	04/10/2015
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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