4//SEC Filing
BLUE HAROLD 4
Accession 0001181431-03-029444
CIK 0000942319other
Filed
Nov 5, 7:00 PM ET
Accepted
Nov 6, 1:22 PM ET
Size
13.3 KB
Accession
0001181431-03-029444
Insider Transaction Report
Form 4
PLANVISTA CORPPVST
BLUE HAROLD
Director
Transactions
- Award
Common Stock
2003-11-04$2.00/sh+1,250$2,500→ 1,250 total - Award
Common Stock
2003-08-06$1.00/sh+19,758$19,758→ 21,755 total - Award
Common Stock
2003-08-06$1.00/sh+6,767$6,767→ 35,816 total(indirect: See Footnote) - Award
Common Stock
2003-11-04$3.35/sh+747$2,502→ 1,997 total - Purchase
Convertible Notes
2003-03-31$2392542.00/sh+2,392,542$5,724,257,221,764→ 2,392,542 total(indirect: By LLC)Exercise: $1.00From: 2003-03-31Exp: 2006-04-01→ Common Stock (2,392,542 underlying)
Holdings
- 32,195(indirect: By LLC)
Series C Convertible Preferred Stock
Exercise: $1.42From: 2003-10-12→ Common Stock - 12,000
Directors Stock Option (Right to Buy)
Exercise: $1.30From: 2003-03-10Exp: 2013-03-10→ Common Stock (12,000 underlying)
Footnotes (8)
- [F1]Calculated based on the closing price of the Company's common stock as of June 30, 2003, pursuant to the terms of the Amended and Restated 1997 Director's Equity Plan.
- [F2]Calculated based on the closing price of the Company's common stock as of September 30, 2003, pursuant to the terms of the Amended and Restated 1997 Directors Equity Plan.
- [F3]Issued in connection with services provided under an advisory agreement dated March 5, 2003 between PlanVista Corporation and Commonwealth Associates Group Holdings, LLC (the "Commonwealth Advisory Agreement").
- [F4]Mr. Blue holds an interest in 6,767 shares of common stock issued on August 6, 2003 to Commonwealth Associates, L.P. ("Commonwealth") and Commonwealth Associates Group Holdings, LLC ("Group Holdings") pursuant to the Commonwealth Advisory Agreement (see Footnote 3). Mr. Blue also holds an interest in a total of 29,049 shares of common stock issued to PVC Funding Partners, LLC ("PVCFP") on July 10, 2003, and November 3, 2003, as payment of interest on a convertible note issued to PVCFP. (See Footnotes 6 and 8). Mr. Blue disclaims beneficial ownership in the shares held by Commonwealth, Group Holdings, and PVCFP, other than that portion which corresponds to his interest in such entities.
- [F5]Mr. Blue holds an interest in the Series C Stock through his affiliation with PVCFP (see Footnote 6). The shares of Series C Stock held by PVCFP constitute 96% of the outstanding shares of Series C Stock. The number of shares of common stock into which the Series C Stock is convertible is subject to adjustment in accordance with anti-dilution and other terms set forth in the Certificate of Designation of Series and Determination of Rights and Preferences of the Series C Stock. Among other things, the Designation provides for adjustment to ensure that the number of shares of common stock issuable upon conversion will represent 51% of the Company's fully diluted common stock. PVCFP may exercise its conversion rights at any time after October 12, 2003.
- [F6]Mr. Blue is a member, a director, and the President of Commonwealth Associates Group Holdings, LLC, which is the parent of Commonwealth Management, LLC. Commonwealth Management, LLC is the general partner of Commonwealth Associates, L.P. ("Commonwealth"). Commonwealth is one of the two managers of PVC Funding Partners, LLC ("PVCFP"), which holds 32,195 shares of PlanVista Corporation's Series C Convertible Preferred Stock ("Series C Stock"). Mr. Blue is also an affiliate of ComVest Venture Partners, L.P. ("ComVest"), which is the other manager of PVCFP. Mr. Blue disclaims beneficial ownership in the shares held by PVCFP, other than that portion which corresponds to his interest in Commonwealth and ComVest.
- [F7]The stated number of options vest over a four-year period from the grant date, with 20% of the options becoming vested on said grant date, and 20% becoming vested on each successive anniversary of the grant date.
- [F8]Effective March 31, 2003, the Company issued convertible promissory notes to PVCFP with a total principal amount of $2,392,542. The notes are convertible into the Company's common stock at a conversion price of $1.00 in principal amount for each share. Mr. Blue holds an interest in the convertible notes through his affiliation with PVCFP (see Footnote 6). Mr. Blue disclaims beneficial ownership in the notes held by PVCFP, other than that portion which corresponds to his interest in PVCFP.
Documents
Issuer
PLANVISTA CORP
CIK 0000942319
Entity typeother
IncorporatedFL
Related Parties
1- filerCIK 0000939429
Filing Metadata
- Form type
- 4
- Filed
- Nov 5, 7:00 PM ET
- Accepted
- Nov 6, 1:22 PM ET
- Size
- 13.3 KB