4//SEC Filing
BKF Asset Holdings, Inc. 4
Accession 0001104659-20-031518
CIK 0000758938other
Filed
Mar 9, 8:00 PM ET
Accepted
Mar 10, 8:01 PM ET
Size
14.7 KB
Accession
0001104659-20-031518
Insider Transaction Report
Form 4
QUALSTAR CORPQBAK
BKF CAPITAL GROUP INC
10% Owner
Transactions
- Exercise/Conversion
Restricted Stock Units
2020-03-06−25,000→ 25,000 total→ Common Stock (25,000 underlying) - Exercise/Conversion
Common Stock
2020-03-06+25,000→ 39,617 total
Holdings
- 708,286(indirect: By BKF Asset Holdings, Inc.)
Common Stock
- 708,286(indirect: By BKF Capital Group, Inc.)
Common Stock
- 10,000(indirect: By Spouse)
Common Stock
BKF Asset Holdings, Inc.
10% Owner
Transactions
- Exercise/Conversion
Restricted Stock Units
2020-03-06−25,000→ 25,000 total→ Common Stock (25,000 underlying) - Exercise/Conversion
Common Stock
2020-03-06+25,000→ 39,617 total
Holdings
- 10,000(indirect: By Spouse)
Common Stock
- 708,286(indirect: By BKF Asset Holdings, Inc.)
Common Stock
- 708,286(indirect: By BKF Capital Group, Inc.)
Common Stock
BRONSON STEVEN N
10% Owner
Transactions
- Exercise/Conversion
Common Stock
2020-03-06+25,000→ 39,617 total - Exercise/Conversion
Restricted Stock Units
2020-03-06−25,000→ 25,000 total→ Common Stock (25,000 underlying)
Holdings
- 708,286(indirect: By BKF Asset Holdings, Inc.)
Common Stock
- 708,286(indirect: By BKF Capital Group, Inc.)
Common Stock
- 10,000(indirect: By Spouse)
Common Stock
Footnotes (6)
- [F1]This Form 4 is filed jointly by BKF Capital Group, Inc. ("BKF Capital"), BKF Asset Holdings, Inc. ("BKF Holdings") and Steven N. Bronson (collectively, the "Reporting Persons"). Each of the Reporting Persons disclaims beneficial ownership of the shares of common stock reported herein except to the extent of his or its pecuniary interest therein.
- [F2]Each restricted stock unit represents a contingent right to one share of Qualstar Corporation common stock.
- [F3]Represents shares of common stock owned directly by BKF Holdings. BKF Holdings is wholly owned by BKF Capital. Steven N. Bronson, as the Chairman, CEO and majority shareholder of BKF Capital and the CEO of BKF Holdings, may be deemed to be the beneficial owner of the shares of Qualstar Corporation held by BKF Holdings.
- [F4]Represents shares of common stock owned indirectly by BKF Capital through BFK Holdings. Steven N. Bronson, as the Chairman, CEO and majority shareholder of BKF Capital, may be deemed to be the beneficial owner of the shares of Qualstar Corporation indirectly held by BKF Capital.
- [F5]For each of the fiscal years ended December 31, 2019 and December 31, 2020, RSUs for 25,000 shares of the Company's Common Stock shall vest and become issuable subject to the Company's achievement of financial and performance objectives for the applicable fiscal year established by the Compensation Committee of the Company's Board of Directors. Whether recipient's RSUs for the applicable fiscal year become vested and issuable shall be determined solely in the discretion of the Compensation Committee, or if such committee does not then exist at the time of determination, the Company's Board of Directors (excluding Executive).
- [F6]Subject to Sections 9.7(b) and 9.7(d) of that certain Employment Agreement entered into on April 13, 2019 by and between the Company and Steven N. Bronson, any such RSUs shall not be earned by or vest in recipient until the date such number, if any, is determined by the Compensation Committee. On March 6, 2020, the Company issued to Mr. Bronson 25,000 shares of the Company's Common Stock for the achievement of financial and performance objectives for the fiscal year ended December 31, 2019.
Documents
Issuer
QUALSTAR CORP
CIK 0000758938
Entity typeother
IncorporatedDE
Related Parties
1- filerCIK 0001626686
Filing Metadata
- Form type
- 4
- Filed
- Mar 9, 8:00 PM ET
- Accepted
- Mar 10, 8:01 PM ET
- Size
- 14.7 KB