SEC Form 4 · accession 0001437749-17-003445

ASTA FUNDING INC · ASFI

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Ricky Stern

Officer — Senior Vice President · 10% Owner

Period of report

Feb 23, 2017

Accepted (ET)

Feb 28, 2017 · 5:43 pm EST

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0001001258

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I	Nature of ownership
Common Stock, par value $.01 per share^F1	Feb 23, 2017	P	471,086	$10.35	A	714,364	I	As Trustee and Beneficiary of Ricky Stern Family 2012 Trust
Common Stock, par value $.01 per share	holding	—	—		—	503,590	I	As co-Trustee and Beneficiary of the Ricky Stern 2012 GST Trust
Common Stock, par value $.01 per share^F2	holding	—	—		—	2,590	I	As co-Trustee of the Emily Stern 2012 GST Trust
Common Stock, par value $.01 per share^F2	holding	—	—		—	243,278	I	As Trustee for Emily Stern Family 2012 Trust
Common Stock, par value $.01 per share^F3	holding	—	—		—	862,000	I	see footnote
Common Stock, par value $.01 per share	holding	—	—		—	30,220	I	Representing proportionate interest in shares held by Asta Group, Incorporated
Common Stock, par value $.01 per share	holding	—	—		—	268,142	D

Table II — derivative securities

No Table II lines on this filing.

Explanation of responses

F1The shares are to be acquired pursuant to a Securities Purchase Agreement dated as of January 6, 2017, by and among The Mangrove Partners Master Fund, Ltd., The Mangrove Partners Fund, L.P., Mangrove Partners Fund (Cayman), Ltd., Mangrove Partners, Mangrove Capital and Nathaniel August (collectively, the "Sellers") and Gary Stern (the "Purchaser"). The Purchaser has assigned his right and obligation to purchase the shares under such Securities Purchase Agreement to the Ricky Stern Family 2012 Trust. Securities acquired by the Ricky Stern Family 2012 Trust may be deemed beneficially owned by the Reporting Person because of his positions as trustee and beneficiary of the Ricky Stern Family 2012 Trust. The closing of the purchase of the shares is expected to occur on March 10, 2017.
F2The Reporting Person may be deemed to have beneficial ownership of the shares held in such trust because of his position as Trustee of such trust and as an immediate family member of the beneficiary of such trust. The Reporting Person disclaims any beneficial ownership of the shares held by such trust in excess of the Reporting Person's beneficial ownership therein for purposes of Section 16.
F3Shares held by GMS Family Investors, LLC may be deemed beneficially owned by the Reporting Person because of his position as sole manager of GMS Family Investors, LLC. The Reporting Person disclaims beneficial ownership of the shares held by GMS Family Investors, LLC in excess of his pecuniary interest therein for purposes of Section 16.