Schedule 13G Malcolm Chace
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 3)*
Bancorp Rhode Island, Inc.
(Name of Issuer)
Common Stock, $0.01 par value per share
(Title of Class of Securities)
059690 10 7
(CUSIP Number)
December 31, 2002
(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) [X]
*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 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).
(A fee is not being paid with this statement.)
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1 Names of Reporting Persons/I.R.S. Identification Nos. of Above Persons (Entities
Only)
Malcolm G. Chace
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2 Check the Appropriate Box if a Member of a Group (a) [ ]
(See Instructions) (b) [ ]
Not Applicable
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3 SEC Use Only
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4 Citizenship or Place of Organization
United States
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---------------------------- --------- -----------------------------------------
Number of 5 Sole Voting Power
Shares 52,555*
Beneficially
Owned by 6 Shared Voting Power
Each 421,233
Reporting
Person With 7 Sole Dispositive Power
52,555*
8 Shared Dispositive Power
421,233
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9 Aggregate Amount Beneficially Owned by Each Reporting Person
473,788*
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10 Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions)
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11 Percent of Class Represented by Amount in Row (9)
12.5%
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12 Type of Reporting Person (See Instructions)
IN
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* Includes 1,500 shares of Common Stock issuable upon the exercise of
currently exercisable stock options. 2,500 shares of Common Stock were
gifted to spouse of Reporting Person on 1/15/03 which have been subtracted
from the number of shares reflected in 5 and 7 above and added to those
shares reflected in 6 and 8 above.
Item 1.
Item 1(a). Name of Issuer.
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Bancorp Rhode Island, Inc.
Item 1(b). Address of Issuer's Principal Executive Offices.
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One Turks Head Place
Providence, RI 02903
Item 2.
2(a). Name of Person Filing.
----------------------
Malcolm G. Chace
2(b). Address or Principal Business Office or, if none, Residence.
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c/o Point Gammon Corporation
One Providence Washington Plaza, 4th Floor
Providence, Rhode Island 02903
2(c). Citizenship.
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United States
2(d). Title of Class of Securities.
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Common Stock, par value $0.01 per share
2(e). CUSIP Number.
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059690 10 7
Item 3.
Not Applicable
Item 4. Ownership.
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Provide the following information regarding the aggregate
number and percentage of the class of securities of the issuer identified in
Item 1.
a. Amount Beneficially Owned.
--------------------------
As of January 31, 2003, the reporting person beneficially owned: 473,788 shares
of Common Stock, (i) 51,055 of which are held in a Grantor Trust over which Mr.
Chace has sole voting power and sole power to direct the disposition, (ii) 1,500
of which are purchasable upon the exercise of currently exercisable options,
(iii) 52,100 of which are held in trusts for which Mr. Chace acts as co-trustee
and over which Mr. Chace shares voting power and the power to direct the
disposition, (iv) 364,633 of which are held in trusts for which an immediate
family member of Mr. Chace acts as a trustee and over which Mr. Chace is deemed
to share voting power and the power to direct the disposition, and (v) 4,500 of
which are owned by Mr. Chace's spouse. Mr. Chace expressly disclaims any
economic or beneficial interest in 12,700 of the shares held by certain trusts
referenced in clause (iii).
b. Percent of class.
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12.5%
c. Number of shares as to which such person has:
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i. sole power to vote or to direct the vote ........................52,555*
ii. shared power to vote or to direct the vote.......................421,233
iii. sole power to dispose or to direct the disposition of ...........52,555*
iv. shared power to dispose or to direct the disposition of..........421,233
Item 5. Ownership of Five Percent or Less of a Class.
---------------------------------------------
Not Applicable
Item 6. Ownership of More Than Five Percent on Behalf of Another Person.
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Not Applicable
Item 7. Identification and Classification of the Subsidiary Which Acquired the Security
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Being Reported on by the Parent Holding Company or Control Person.
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Not Applicable
Item 8. Identification and Classification of Members of the Group.
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Not Applicable
Item 9. Notice of Dissolution of Group.
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Not Applicable
Item 10. Certifications.
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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 February 10, 2003 /s/ Malcolm G. Chace
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Name/Title Malcolm G. Chace
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* Includes 1,500 shares of Common Stock purchasable upon exercise of
currently exercisable options. 2,500 shares of Common Stock were gifted to
spouse of Reporting Person on 1/15/03 which have been subtracted from the number
of shares held by Reporting Person with sole and dispositive power to direct the
vote and disposition and added to those shares held by Reporting Person with
shared voting and dispositive power to direct the vote and disposition.