4//SEC Filing
xG TECHNOLOGY, INC. 4
Accession 0001144204-14-016640
$VISLCIK 0001565228operating
Filed
Mar 18, 8:00 PM ET
Accepted
Mar 19, 4:17 PM ET
Size
5.5 KB
Accession
0001144204-14-016640
Insider Transaction Report
Form 4
MB Technology Holdings, LLC
10% Owner
Transactions
- Other
Common Stock
2013-11-22$35.00/sh−23,915$837,025→ 6,185,582 total
Footnotes (1)
- [F1]Prior to the Company becoming a public entity, MB Merchant Group, LLC ("MBMG"), which beneficially owns 45.20% of the Reporting Person, incurred a debt to a private individual of $837,000. This individual held the option to convert such debt at any time into 23,915 shares in the Company, such conversion to be satisfied by MBMG transferring existing xG shares to the individual. Likewise, MBMG had the option to extinguish the debt in its entirety with 23,915 shares in the Company. On November 22, 2013, MBMG received notice that the private individual had exercised its option to acquire shares of the Company from MBMG in lieu of the payment of the debt. MBMG transferred shares from the Reporting Company to the private individual to fulfill this obligation.
Documents
Issuer
xG TECHNOLOGY, INC.
CIK 0001565228
Entity typeoperating
IncorporatedDE
Related Parties
1- filerCIK 0001565228
Filing Metadata
- Form type
- 4
- Filed
- Mar 18, 8:00 PM ET
- Accepted
- Mar 19, 4:17 PM ET
- Size
- 5.5 KB