TAFT DAVID A 4
4 · Applied Minerals, Inc. · Filed Jan 10, 2012
Insider Transaction Report
Form 4
TAFT DAVID A
Director
Transactions
- Sale
Common Stock
2012-01-06$1.27/sh−240,000$304,800→ 22,339,053 total(indirect: See Notes 1, 2 and 3.) - Award
Common Stock
2012-01-06$1.27/sh+240,000$304,800→ 22,339,053 total(indirect: See Notes 1, 2 and 3.)
Footnotes (3)
- [F1]The reporting person is the president and a member of IBS Capital LLC ("IBS Capital"), which is the general partner of The IBS Turnaround (QP) Fund (A Limited Partnership) ("QP Fund") and The IBS Turnaround Fund (A Limited Partnership) ("LP Fund"). IBS Capital is the investment manager of The IBS Opportunity Fund, Ltd. ("Opportunity Fund").
- [F2]On January 6, 2012, the Opportunity Fund sold 240,000 shares to the QP Fund. After completion of these transactions, the reporting person indirectly beneficially owned 22,339,053 Shares, which consisted of 22,339,053 Shares indirectly owned by IBS Capital, which consisted of: (i) 12,724,747 Shares directly beneficially owned by the QP Fund; (ii) 5,692,712 Shares directly beneficially owned by the LP Fund; and (iii) 3,921,594 Shares directly beneficially owned by the Opportunity Fund.
- [F3]The reported securities are directly beneficially owned by QP Fund, the LP Fund and/or the Opportunity Fund. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.