Applied Minerals, Inc. 4
4 · Applied Minerals, Inc. · Filed May 28, 2015
Insider Transaction Report
Form 4
TAFT DAVID A
Director
Transactions
- Other
Common Stock
2015-05-26$0.73/sh+154,975$113,132→ 22,486,128 total(indirect: See footnote)
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]This transaction is being reported as a result of an acquisition of common stock in lieu of cash pursuant to the registration rights agreements entered into by the Issuer and each of the IBS Capital Funds whereby the Issuer would be liable for certain liquidated damages for failing to timely file a registration statement. The Issuer issued shares of common stock in the following amounts: (1) QP Fund of 86,634 shares, totaling 13,866,684 direct beneficially owned shares following such transaction, (2) LP Fund of 41,220 shares, totaling 6,597,729 direct beneficially owned shares following such transaction, and (3) Opportunity Fund of 27,121 shares, totaling 2,021,715 direct beneficially owned shares following such transaction.
- [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.