Levin Michael 4
4 · DIRECT INSITE CORP · Filed Mar 14, 2011
Insider Transaction Report
Form 4
DIRECT INSITE CORPDIRI.OB
Levin Michael
Director
Transactions
- Award
Common Stock
2010-12-02$0.90/sh+11,136$10,000→ 90,395 total(indirect: Indirect) - Award
Common Stock
2010-12-02$0.98/sh+10,225$10,000→ 79,259 total(indirect: Indirect)
Holdings
- 2,315,790(indirect: Indirect)
Common Stock
- 2,000
Common Stock
Footnotes (4)
- [F1]The shares were issued directly to Metropolitan Venture Partners Corp. ("MetVP Corp.") in respect of board fees for services provided by the Reporting Person. The Reporting Person is a managing director, on the board of directors and is a shareholder of MetVP Corp., which is the general partner of Metropolitan Venture Partners (Advisors), L.P. ("MetVP Advisors"). The Reporting Person is a limited partner in MetVP Advisors, which is the general partner of Metropolitan Venture Partners II, L.P. ("MetVP II").
- [F2]As a result of the foregoing, the Reporting Person may be deemed, pursuant to Rule 13d-3 under the Securities Exchange Act of 1934, as amended ("Exchange Act"), to beneficially and indirectly own the securities disclosed on this Form 4. Pursuant to Rule 16a-1(a)(4) under the Exchange Act, this filing shall not be deemed an admission that the Reporting Person, for purposes of Section 16 of the Exchange Act or otherwise, is the beneficial owner of the securities in excess of the amount of the Reporting Person's pecuniary interest therein, and the Reporting Person disclaims beneficial ownership of such shares.
- [F3]Represents the aggregate amount of shares of Common Stock owned by MetVP Corp., including 69,034 shares of Common Stock that were issued to MetVP II for board fees earned by MetVP Corp. that will be assigned to MetVP Corp.
- [F4]Represents the aggregate amount of shares of Common Stock owned by MetVP II, excluding 69,034 shares of Common Stock that were issued to MetVP II for board fees earned by MetVP Corp. that will be assigned to MetVP Corp.