Schreyer Leslie J 4
4 · KEY TECHNOLOGY INC · Filed Mar 22, 2018
Insider Transaction Report
Form 4
Schreyer Leslie J
10% Owner
Transactions
- Disposition from Tender
Common Stock
2018-03-20$26.75/sh−781,423$20,903,065→ 0 total
Footnotes (2)
- [F1]Leslie J. Schreyer, as Trustee under Trust Agreement dated December 23, 1989 FBO the issue of Jonathan D. Sackler (the "Trust"), which is a family client of Kokino LLC ("Kokino"), also reports beneficial ownership of the Issuer's common stock pursuant to Rule 13d-1 of the Securities Exchange Act of 1934, as amended, pursuant to a Schedule 13D filed jointly by the Trust, M3C Holdings LLC ("M3C"), Robert Averick and Piton Capital Partners LLC ("Piton"), with the SEC on June 30, 2016, as amended by a Schedule 13D Amendment No. 1 filed on January 31, 2018.
- [F2]Represents shares of the Issuer's common stock ("Shares") beneficially owned by the Trust. The Trust, M3C and Mr. Averick are members of Piton. Piton's managing member is Piton Capital Management LLC ("PCM"). PCM's managing member is Kokino, and Kokino is Piton's trading manager. Mr. Averick manages the Trust's, M3C's and Piton's investments in the Issuer as Kokino's Portfolio Manager. Mr. Averick holds an economic interest in Piton (which interest may be held directly and, from time to time, indirectly through PCM). Also, Mr. Averick's incentive compensation as an employee of Kokino, which is calculated in Kokino's discretion, may be based, among other things, on the performance of Shares held by the Trust, M3C and Piton. Such compensation may be paid in cash and/or by way of increasing Mr. Averick's minority interest in Piton (either directly or indirectly through PCM).