Liptak David 5
5 · Diligent Board Member Services, Inc. · Filed Feb 14, 2013
Insider Transaction Report
Form 5
Liptak David
10% Owner
Transactions
- Gift
Common Stock
2012-08-24−320,000→ 0 total - Gift
Common Stock
2012-12-21−700,000→ 0 total - Gift
Common Stock
2012-09-19−315,000→ 4,172,403 total(indirect: Through Spring Street Partners, LP)
Holdings
- 21,777,904(indirect: Through Spring Street Partners, LP)
Series A Preferred Stock
→ Common Stock (21,777,904 underlying)
Footnotes (4)
- [F1]These gifted shares were acquired by the reporting person immediately prior to the gift transaction pursuant to a limited partnership distribution of shares to the reporting person by Spring Street Partners, LP, resulting in a change from indirect ownership by the reporting person to direct ownership by the reporting person.
- [F2]The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.
- [F3]The Series A Preferred Stock is convertible at any time on a one for one basis and has no expiration date.
- [F4]Amount includes 1,777,904 shares of Series A Preferred Stock received by Spring Street Partners, LP on January 4, 2010 in lieu of a cash dividend in accordance with the issuer's Certificate of Designations. Spring Street Partners, LP did not have the choice of receiving cash in lieu of the PIK dividend. The receipt of such dividend shares is an exempt transaction for all purposes of Section 16 pursuant to Rule 16a-9.