Applied Minerals, Inc. 4
4 · Applied Minerals, Inc. · Filed Feb 17, 2015
Insider Transaction Report
Form 4
TAFT DAVID A
Director
Transactions
- Award
Common Stock
2015-02-12$0.66/sh+50,000$33,000→ 22,381,153 total(indirect: See footnotes)
Footnotes (3)
- [F1]David A. Taft (the "Reporting Person") is a director of Applied Minerals, Inc. (the "Issuer"), and president and a member of IBS Capital LLC ("IBS Capital), which is the general partner of The IBS Turnaround Fund (QP) (A Limited Partnership) (the "QP Fund") and The IBS Turnaround Fund, L.P. (the "LP Fund"). IBS Capital is the investment manager of The IBS Opportunity Fund, Ltd. (the "Opportunity Fund") (the QP Fund, the LP Fund and the Opportunity Fund are hereinafter referred to as the "IBS Capital Funds").
- [F2]The Reporting Person received 50,000 shares of the Issuer's Common Stock (the "Shares") as compensation for his services as a director of the Issuer. The Shares will be allocated to the IBS Capital Funds so that, following such allocation: (i) 13,814,050 shares of the Issuer's Common Stock were directly beneficially owned by QP Fund, (ii) 6,572,509 shares of the Issuer's Common Stock were directly beneficially owned by LP Fund and (iii) 1,994,594 shares of the Issuer's Common Stock were directly beneficially owned by Opportunity Fund (for the avoidance of doubt, the Opportunity Fund was not allocated any of the Shares).
- [F3]By virtue of Mr. Taft's position as president and member of IBS Capital, Mr. Taft may be deemed to be the beneficial owner of the securities for purposes of the SEC Rule 16(a)-1(a). The Reporting Person disclaims any beneficial ownership of the securities except to the extent of any pecuniary interest.