PVBC Gains New 6% Institutional Holder as Glazer Capital Files 13G

Rhea-AI Filing Summary

Glazer Capital, LLC and its managing member Paul J. Glazer have filed a Schedule 13G disclosing a 6.03 % passive stake in Provident Bancorp, Inc. (PVBC). The filing, triggered by a 07/08/2025 event date, reports beneficial ownership of 1,071,768 common shares.

The shares are held across funds and managed accounts advised by Glazer Capital. Both the voting and dispositive powers are reported as shared, with no sole authority indicated. Because the form type is 13G—not 13D—the filer certifies the stake is not intended to influence or change control of the issuer, signaling a passive investment posture.

Glazer Capital is classified as an investment adviser (Item 3 (e)); Paul J. Glazer is reported in an individual capacity. The firm’s principal office is in New York, NY, while PVBC’s headquarters remain in Amesbury, MA.

Crossing the 5 % threshold introduces a new institutional holder to PVBC’s register, potentially enhancing trading liquidity and signaling institutional confidence without immediate governance implications.

Positive

• Institutional confidence: Hedge-fund manager Glazer Capital acquired 6.03 % of PVBC, signaling perceived value in the bank’s equity.
• Improved liquidity: Presence of a professional investor may increase trading volumes and attract further analyst attention.

Negative

• None.

Insights

Securities Analyst

TL;DR: Passive hedge-fund stake of 6 % adds institutional support but no control intent disclosed.

Glazer Capital’s 1.07 million-share position moves PVBC’s ownership landscape, but the 13G status indicates no activist agenda. A 6 % holding is material for a micro-cap bank (PVBC mkt-cap ≈ $200-300 m), suggesting conviction in franchise value or potential M&A optionality. However, without control ambitions, near-term strategic direction remains with management. Liquidity could improve as more float is absorbed by a sophisticated investor, and the disclosure may attract peer funds seeking similar community-bank exposure.

Corporate Governance Expert

TL;DR: New 6 % passive holder poses limited governance impact; monitoring future filings is key.

The filing’s certification under Item10 affirms no intent to influence control. Voting and dispositive rights are entirely shared, implying internal fund-level decision processes rather than direct board engagement. Governance risk is low today, yet investors should watch for a switch to Schedule 13D or additional accumulation above 10 %, which could alter dynamics. For now, board composition and strategic initiatives remain unaffected.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Provident Bancorp, Inc. /MD/

(Name of Issuer)

Common Stock

(Title of Class of Securities)

74383L105

(CUSIP Number)

07/08/2025

(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)

SCHEDULE 13G

CUSIP No. 74383L105

1

Names of Reporting Persons

Glazer Capital, LLC

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

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,071,768.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,071,768.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,071,768.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.03 %

12

Type of Reporting Person (See Instructions)

IA, OO

SCHEDULE 13G

CUSIP No. 74383L105

1

Names of Reporting Persons

Paul J. Glazer

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

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,071,768.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,071,768.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,071,768.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.03 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Provident Bancorp, Inc. /MD/
(b)	Address of issuer's principal executive offices: 5 Market Street, Amesbury, Massachusetts 01913
Item 2.
(a)	Name of person filing: This statement is filed by: (i) Glazer Capital, LLC, a Delaware limited liability company ("Glazer Capital"), with respect to the shares of Common Stock (as defined in Item 2(d)) held by certain funds and managed accounts to which Glazer Capital serves as investment manager (collectively, the "Glazer Funds"); and (ii) Mr. Paul J. Glazer ("Mr. Glazer"), who serves as the Managing Member of Glazer Capital, with respect to the shares of Common Stock held by the Glazer Funds. The foregoing persons are hereinafter sometimes collectively referred to as the "Reporting Persons." The filing of this statement should not be construed as an admission that any of the Reporting Persons is, for the purposes of Section 13 of the Act, the beneficial owner of the shares of Common Stock (as defined in Item 2(d)) reported herein.
(b)	Address or principal business office or, if none, residence: The address of the business office of each of the Reporting Persons is 250 West 55th Street, Suite 30A, New York, New York 10019.
(c)	Citizenship: Glazer Capital is a Delaware limited liability company. Mr. Glazer is a United States citizen.
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 74383L105
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)(1)(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)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 1,071,768
(b)	Percent of class: 6.03%
(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: 1,071,768
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 1,071,768
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. See Item 2.
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.

Certifications:

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, other than activities solely in connection with a nomination under ?? 240.14a-11.

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.

Glazer Capital, LLC

Signature:	Paul J. Glazer
Name/Title:	Paul J. Glazer, Managing Member
Date:	07/15/2025

Paul J. Glazer

Signature:	Paul J. Glazer
Name/Title:	Paul J. Glazer
Date:	07/15/2025

FAQ

Why did Glazer Capital file a Schedule 13G on PVBC?

Because its aggregate holdings exceeded 5 % of PVBC common stock, triggering SEC reporting obligations on 07/08/2025.

How many Provident Bancorp shares does Glazer Capital own?

The filing reports 1,071,768 shares, representing 6.03 % of the outstanding class.

Is Glazer Capital seeking control of Provident Bancorp (PVBC)?

No. The Schedule 13G classification and Item 10 certification state the stake is passive, with no intent to influence control.

Who has voting and dispositive power over the shares?

Glazer Capital and its managed funds share both voting and dispositive power; no sole authority is reported.

Could this holding affect PVBC investors?

Institutional ownership above 5 % may improve liquidity and sentiment, but it does not immediately alter governance or strategy.