GUEZ HUBERT 4
4 · INNOVO GROUP INC · Filed Sep 22, 2003
Insider Transaction Report
Form 4
INNOVO GROUP INCINNO
GUEZ HUBERT
10% Owner
Transactions
- Exercise of In-Money
Common Stock Warrants (right to buy)
2003-09-18$2.10/sh−707,928$1,486,649→ 0 total(indirect: See footnotes 1 and 3)Exercise: $2.10From: 2000-10-30Exp: 2003-10-30→ Common Stock (707,928 underlying) - Exercise of In-Money
Common Stock
2003-09-18$7.19/sh+707,928$5,090,002→ 2,595,465 total(indirect: See footnotes 1 and 3) - Sale
Common Stock
2003-09-18$7.19/sh−292,072$2,099,998→ 2,303,393 total(indirect: See footnotes 1 and 3)
Footnotes (3)
- [F1]On September 18, 2003, certain warrants to acquire shares of the Issuer's common stock, $0.10 par value per shares ("Shares"), held for the account of Commerce Investment Group, LLC, a limited liabilitiy company organized in California ("Commerce Investment Group"), were exercised. Pursuant to the terms of the warrant agreement, Commerce Investment Group elected to pay the exercise price of the warrants by having the Issuer withhold a number of Shares equal to the exercise price. Hubert Guez is the manager of Commerce Investment Group.
- [F2]Following the reported transaction, Mr. Guez may be deemed to be beneficial owner of 23,900 shares held for his personal account and the remainder of the shares are held for the account of Commerce Investment Group
- [F3]The filing of this statement shall not be deemed an admission that Mr. Guez is the beneficial owner of any securities not held directly for his account for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or otherwise.