VANTAGEPOINT COMMUNICATIONS PARTNERS LP 4
4 · DSL NET INC · Filed Jan 23, 2004
Insider Transaction Report
Form 4
DSL NET INCDSLN
Transactions
- Conversion
Common Stock, $.0005 par value
2004-01-21$0.18/sh+6,666,667$1,200,000→ 0 total - Purchase
Common Stock, $.0005 par value
2004-01-21+463,366→ 0 total - Conversion
Series X Preferred Stock
2004-01-21−1,200→ 2,800 totalFrom: 2004-01-21Exp: 2004-01-21→ Common Stock (6,666,667 underlying) - Other
Common Stock, $.0005 par value
2004-01-21−6,580,483→ 724,884 total
Footnotes (4)
- [F1]The Reporting Person converted 1,200 shares of Series X Preferred Stock on January 21, 2004 into 6,666,667 shares of common stock. The Series X Preferred Stock was originally issued at a price of $1,000 per share and was convertible at the fixed conversion price of $0.18 per share.
- [F2]Upon conversion of the 1,200 shares of Series X Preferred Stock, the Reporting Person received 463,366 shares of common stock in payment of accrued dividends payable on such Preferred Stock. Such dividends accrued on the Series X Preferred Stock at the rate of $120 per share per annum from the date of issuance and were payable upon conversion in cash or, at the sole option of DSL.net, in shares of common stock measured at the fair market value of the common stock at the time the dividend was declared (January 21, 2004, the date of conversion).
- [F3]On January 21, 2004, the Reporting Person, a limited partnership, made a pro rata distribution of 6,580,483 shares of common stock to its limited partners in accordance with their respective limited partnership interests.
- [F4]Each share of Series X Preferred Stock was originally issued at a price of $1,000 per share and is convertible at a fixed conversion price of $0.18 per share.