SEC Form 4 · accession 0000899243-16-033362
PRGX GLOBAL, INC. · PRGX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Matthew A Drapkin
Director
Period of report
Nov 10, 2016
Accepted (ET)
Nov 14, 2016 · 5:50 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001007330
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Nov 14, 2016 | P | 200,000 | $5.00 | A | 1,283,365 | I | See Fn. |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock OptionsF3 | $4.80 | Nov 10, 2016 | A | 35,000 | A | — | Nov 9, 2023 | Common Stock | 35,000 | 35,000 | D |
| Stock OptionsF4 | $4.80 | Nov 10, 2016 | A | 20,417 | A | — | Nov 9, 2023 | Common Stock | 20,417 | 55,417 | D |
Explanation of responses
- F1Represents shares of common stock, no par value (the "Common Stock"), of PRGX Global, Inc. (the "Issuer") directly beneficially owned by Northern Right Capital (QP), L.P. ("Northern Right").
- F2Mr. Drapkin may be deemed to beneficially own such Common Stock as he is a member of BC Advisors, LLC, which is the general partner of Northern Right Capital Management, L.P., and Northern Right Capital Management, L.P. is the general partner of, and investment manager for, Northern Right. Mr. Drapkin disclaims beneficial ownership in such Common Stock except to the extent of his pecuniary interest therein.
- F3These Stock Options, granted by the Issuer to Mr. Drapkin upon his appointment as a director of the Issuer; will vest in full on November 9, 2019, with pro rata acceleration upon a change of control of the Issuer.
- F4These Stock Options, granted by the Issuer to Mr. Drapkin for his service as a director of the Issuer, will vest on the earlier of (a) June 27, 2017 and (b) the date of the Issuer's 2017 annual meeting of shareholders.