SEC Form 4 · accession 0001140361-16-060309
BLONDER TONGUE LABORATORIES INC · BDR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Steven L Shea
Director
Period of report
Mar 31, 2016
Accepted (ET)
Apr 5, 2016 · 5:06 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001000683
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock, par value $0.001 | Apr 1, 2016 | A | 47,436 | $0.39 | A | 196,376 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Convertible LoanF2 | $0.54 | Mar 31, 2016 | J | — | A | Mar 31, 2016 | Mar 28, 2019 | Common Stock | 185,185 | — | D |
Explanation of responses
- F1Pursuant to the company's Amended and Restated Director Stock Purchase Plan, the reporting person has elected to receive a fully vested stock award for shares of the company's common stock in lieu of cash payment of director fees otherwise payable to the reporting person. The number of shares of common stock awarded represents the quotient of (i) the director fees payable to the reporting person divided by (ii) $0.39, representing the average of the high and low trading price reported on the NYSE MKT on April 1, 2016.
- F2The reporting person and the company are parties to an Amended and Restated Senior Subordinated Convertible Loan and Security Agreement dated as of March 28, 2016 (the "Subordinated Loan Agreement"), pursuant to which the lenders identified therein have agreed to provide the company with a delayed draw term loan facility of up to $750,000. The lenders, including the reporting person, have the option of converting the principal balance of loans made under the Subordinated Loan Agreement into shares of the company's common stock at a conversion price of $0.54 per share, subject to adjustment under certain circumstances. On March 31, 2016, the reporting person provided a loan of $100,000 to the company under the Subordinated Loan Agreement.