Schedule 13G

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13G

 

Under the Securities Exchange Act of 1934

(Amendment No.     )*

 

 

Sussex Bancorp


(Name of Issuer)

Common Stock, no par value


(Title of Class of Securities)

 

 

869245100

                                (CUSIP Number)                                

October 25, 2007


(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)

x 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).

 

Page 1 of 8


CUSIP No. CUSIP No. 869245100    

 

  1.  

Names of Reporting Persons.

I.R.S. Identification Nos. of above persons (entities only).

   
   

            QVT Financial LP

            11-3694008

   
  2.   Check the Appropriate Box if a Member of a Group (See Instructions)  
  (a)  ¨  
    (b)  x    
  3.   SEC Use Only  
         
  4.   Citizenship or Place of Organization  
                Delaware    

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With:

    5.    Sole Voting Power
 
                  0
    6.    Shared Voting Power
 
                  186,469
    7.    Sole Dispositive Power
 
                  0
    8.    Shared Dispositive Power
 
                  186,469
  9.   Aggregate Amount Beneficially Owned by Each Reporting Person    
                186,469    
10.   Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)   ¨
         
11.   Percent of Class Represented by Amount in Row (9)  
                5.88%    
12.   Type of Reporting Person (See Instructions)  
                PN    

 

Page 2 of 8


CUSIP No. CUSIP No. 869245100    

 

  1.  

Names of Reporting Persons.

I.R.S. Identification Nos. of above persons (entities only).

   
   

            QVT Financial GP LLC

            11-3694007

   
  2.   Check the Appropriate Box if a Member of a Group (See Instructions)  
  (a)  ¨  
    (b)  x    
  3.   SEC Use Only  
         
  4.   Citizenship or Place of Organization  
                Delaware    

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With:

    5.    Sole Voting Power
 
                  0
    6.    Shared Voting Power
 
                  186,469
    7.    Sole Dispositive Power
 
                  0
    8.    Shared Dispositive Power
 
                  186,469
  9.   Aggregate Amount Beneficially Owned by Each Reporting Person    
                186,469    
10.   Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)   ¨
         
11.   Percent of Class Represented by Amount in Row (9)  
                5.88%    
12.   Type of Reporting Person (See Instructions)  
                OO    

 

Page 3 of 8


CUSIP No. CUSIP No. 869245100    

 

  1.  

Names of Reporting Persons.

I.R.S. Identification Nos. of above persons (entities only).

   
   

            QVT Associates GP LLC

            01-0798253

   
  2.   Check the Appropriate Box if a Member of a Group (See Instructions)  
  (a)  ¨  
    (b)  x    
  3.   SEC Use Only  
         
  4.   Citizenship or Place of Organization  
                Delaware    

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With:

    5.    Sole Voting Power
 
                  0
    6.    Shared Voting Power
 
                  169,911
    7.    Sole Dispositive Power
 
                  0
    8.    Shared Dispositive Power
 
                  169,911
  9.   Aggregate Amount Beneficially Owned by Each Reporting Person    
                169,911    
10.   Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)   ¨
         
11.   Percent of Class Represented by Amount in Row (9)  
                5.36%    
12.   Type of Reporting Person (See Instructions)  
                OO    

 

Page 4 of 8


Item 1   (a).    Name of Issuer      
     Sussex Bancorp (the “Issuer”)      
Item 1   (b).    Address of Issuer’s Principal Executive Offices      
    

The address of the Issuer’s principal executive offices is:

200 Munsonhurst Road, Franklin, New Jersey 07416, United States

     
Item 2   (a).    Name of Person Filing      
          
Item 2   (b).    Address of Principal Business Office or, if none, Residence      
          
Item 2   (c).    Citizenship      
    

QVT Financial LP

1177 Avenue of the Americas, 9th Floor

New York, New York 10036

Delaware Limited Partnership

 

QVT Financial GP LLC

1177 Avenue of the Americas, 9th Floor

New York, New York 10036

Delaware Limited Liability Company

 

QVT Associates GP LLC

1177 Avenue of the Americas, 9th Floor

New York, New York 10036

Delaware Limited Liability Company

     
Item 2   (d).    Title of Class of Securities      
     Common stock, no par value (the “Common Stock”).      
Item 2   (e).    CUSIP Number      
     The CUSIP number of the Common Stock is 869245100.      
Item 3.   If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:   
  (a)    ¨    Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).
  (b)    ¨    Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
  (c)    ¨    Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).
  (d)    ¨    Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).
  (e)    ¨    An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
  (f)    ¨    An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);
  (g)    ¨    A parent holding company or control person in accordance with §240.13d-1(b)(ii)(G);
  (h)    ¨    A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
  (i)    ¨    A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
  (j)    ¨    Group, in accordance with §240.13d-1(b)(1)(ii)(J).

 

Page 5 of 8


Item 4.    Ownership.      
   (a)    Amount beneficially owned:      
      QVT Financial LP (“QVT Financial”) is the investment manager for QVT Fund LP (the “Fund”), which beneficially owns 153,486 shares of Common Stock, and for Quintessence Fund L.P. (“Quintessence), which beneficially owns 16,425 shares of Common Stock. QVT Financial is also the investment manager for a separate discretionary account managed for Deutsche Bank AG (the “Separate Account”), which holds 16,558 shares of Common Stock. QVT Financial has the power to direct the vote and disposition of the Common Stock held by the Fund, Quintessence and the Separate Account. Accordingly, QVT Financial may be deemed to be the beneficial owner of an aggregate amount of 186,469 shares of Common Stock, consisting of the shares owned by the Fund and Quintessence and the shares held in the Separate Account.      
      QVT Financial GP LLC, as General Partner of QVT Financial, may be deemed to beneficially own the same number of shares of Common Stock reported by QVT Financial. QVT Associates GP LLC, as General Partner of the Fund and Quintessence, may be deemed to beneficially own the aggregate number of shares of Common Stock owned by the Fund and Quintessence, and accordingly, QVT Associates GP LLC may be deemed to be the beneficial owner of an aggregate amount of 169,911 shares of Common Stock.      
      Each of QVT Financial and QVT Financial GP LLC disclaims beneficial ownership of the shares of Common Stock owned by the Fund and Quintessence and held in the Separate Account. QVT Associates GP LLC disclaims beneficial ownership of all shares of Common Stock owned by the Fund and Quintessence, except to the extent of its pecuniary interest therein.      
      The percentage disclosed in Item 11 of the Cover Pages for each reporting person is calculated based upon 3,169,350 shares of Common Stock outstanding, which is the total number of shares issued and outstanding calculated based on information reported in the Issuer’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2007.      
   (b)    Percent of class:      
      See Item 11 of the Cover Pages to this Schedule 13G.      
   (c)    Number of shares as to which the person has:      
      (i)    Sole power to vote or to direct the vote      
         0      
      (ii)    Shared power to vote or to direct the vote      
         See item (a) above.      
      (iii)    Sole power to dispose or to direct the disposition of      
         0      
      (iv)    Shared power to dispose or to direct the disposition of      
         See item (a) above.      
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
   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      
   By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.      

 

Page 6 of 8


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: October 31, 2007

 

QVT FINANCIAL LP      
By QVT Financial GP LLC,     QVT ASSOCIATES GP LLC
its General Partner      
By:  

/s/ Daniel Gold

    By:  

/s/ Daniel Gold

Name:   Daniel Gold     Name:   Daniel Gold
Title:   Managing Member     Title:   Managing Member
By:  

/s/ Lars Bader

    By:  

/s/ Lars Bader

Name:  

Lars Bader

    Name:   Lars Bader
Title:  

Managing Member

    Title:   Managing Member

 

QVT FINANCIAL GP LLC

By:

 

/s/ Daniel Gold

Name:

  Daniel Gold

Title:

  Managing Member

By:

 

/s/ Lars Bader

Name:

  Lars Bader

Title:

  Managing Member

 

Page 7 of 8


EXHIBIT A

JOINT FILING AGREEMENT

The undersigned hereby agree that the statement on Schedule 13G signed by each of the undersigned shall be filed on behalf of each of the undersigned pursuant to and in accordance with the provisions of Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended.

Dated: October 31, 2007

 

QVT FINANCIAL LP      
By QVT Financial GP LLC,     QVT ASSOCIATES GP LLC
its General Partner      
By:  

/s/ Daniel Gold

    By:  

/s/ Daniel Gold

Name:   Daniel Gold     Name:   Daniel Gold
Title:   Managing Member     Title:   Managing Member
By:  

/s/ Lars Bader

    By:  

/s/ Lars Bader

Name:  

Lars Bader

    Name:   Lars Bader
Title:  

Managing Member

    Title:   Managing Member

 

QVT FINANCIAL GP LLC

By:

 

/s/ Daniel Gold

Name:

  Daniel Gold

Title:

  Managing Member

By:

 

/s/ Lars Bader

Name:

  Lars Bader

Title:

  Managing Member

 

Page 8 of 8