SALKINI JAY J 4

4 · AIRNET COMMUNICATIONS CORP · Filed Dec 13, 2004

Form 4

Period: 2004-12-09

Director10% Owner

Transactions

Sale
Common Stock, par value $0.001
2004-12-10$73750.00/sh−25,000$1,843,750,000→ 3,079,177 total(indirect: TECORE, Inc.)
Sale
Common Stock, par value $0.001
2004-12-09$103000.00/sh−35,000$3,605,000,000→ 3,104,177 total(indirect: TECORE, Inc.)

Holdings

Common Stock, par value $0.001
9,250
$12,000,000 Senior Secured Convertible Note Dated 08-13-03
(indirect: TECORE, Inc.)
Exercise: $1.05Exp: 2007-08-13→ Common Stock (6,733,370 underlying)
1

Footnotes (5)

[F1]The reporting person is a controlling shareholder and director of TECORE, Inc. and disclaims beneficial ownership of the securities held by TECORE, Inc. except to the extent of his pecuniary interest therein.
[F2]On December 9, 2004, the Issuer notified the reporting person that the conversion price for the Note was adjusted from $0.10467432 to $1.0467432 per share of Common Stock, as a result of the Issuer's ten-to-one reverse stock split. The adjustment of the conversion price decreased the number of shares of Common Stock underlying the Note from 67,333,703 to 6,733,370. In addition, the Issuer notified the reporting person that the amount of accumulated interest on the Note as of December 9, 2004 is $1,048,110, which may be converted into 1,001,305 additional shares of Common Stock at the current conversion price.
[F3]The conversion price for the Note is subject to adjustment for certain dilutive issuances and the exercise of certain warrants, options and convertible securities.
[F4]Anytime.
[F5]Shares sold under a non-discretionary Rule 10b5-1 plan, previously approved by Issuer under its Insider Trading Policy.

Documents

1 file