SEC Form 4 · accession 0001025953-15-000142
NOVATION COMPANIES, INC. · NOVC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jeffrey E. Eberwein
Director
Period of report
Sep 30, 2015
Accepted (ET)
Oct 2, 2015 · 3:42 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001025953
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF2,F3 | Sep 30, 2015 | P | 22,500 | $0.283 | A | 2,450,338 | I | By Lone Star Value Investors, LP |
| Common StockF2,F4 | Sep 30, 2015 | P | 2,500 | $0.283 | A | 200,763 | I | By Separately Managed Account |
| Common StockF2,F3 | Oct 1, 2015 | P | 22,500 | $0.2844 | A | 2,472,838 | I | By Lone Star Value Investors, LP |
| Common StockF2,F4 | Oct 1, 2015 | P | 2,500 | $0.2844 | A | 203,263 | I | By Separately Managed Account |
| Common StockF5 | holding | — | — | — | 192,308 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1The purchases of shares reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan entered into by Lone Star Value Management, LLC on behalf of Lone Star Value Investors, LP and similarly managed funds and accounts on May 13, 2015.
- F2The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $0.280 to $0.285. The reporting person undertakes to provide the Securities and Exchange Commission, upon request, further information regarding the number of shares purchased at each separate price such shares were purchased.
- F3Shares owned directly by Lone Star Value Investors, LP ("Lone Star Value Investors"). Mr. Eberwein, solely by virtue of his position as the manager of Lone Star Value Investors GP, LLC, the general partner of Lone Star Value Investors, and as the sole member of Lone Star Value Management, LLC ("Lone Star Value Management"), the investment manager of Lone Star Value Investors, may be deemed to beneficially own the shares owned directly by Lone Star Value Investors for purposes of Section 16. Mr. Eberwein expressly disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
- F4Shares held in an account separately managed by Lone Star Value Management (the "Separately Managed Account I"). Lone Star Value Management, as the investment manager of the Separately Managed Account I, may be deemed to beneficially own the shares of Common Stock held in the Separately Managed Account I; and Jeffrey Eberwein, as the sole member of Lone Star Value Management may be deemed to beneficially own the shares of Common Stock held in the Separately Managed Account I for purposes of Section 16. Mr. Eberwein expressly disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein. The reporting person undertakes to provide the Securities and Exchange Commission, upon request, the underlying identity of the separately managed account.
- F5Represents restricted stock awarded under the Novation Companies, Inc. 2015 Incentive Stock Plan. These restricted stock awards shall vest on August 10, 2016.