SEC Form 4 · accession 0001437749-15-021418
SALON MEDIA GROUP INC · SLNM.OB
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
John E Warnock
Director · 10% Owner
Period of report
Nov 21, 2015
Accepted (ET)
Nov 24, 2015 · 4:16 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001084332
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Jun 4, 2015 | S | 10,261,429 | $0.35 | D | 34,878,281 | I | Trust |
Table II — derivative securities
No Table II lines on this filing.
Remarks
Mr. Warnock sold 10,261,429 shares to William Hambrecht, who together are the two largest shareholders in Salon Media Group. Mr. Warnock sold shares to Mr. Hambrecht with the goal to make their ownership percentages more similar. Mr. Hambrecht also assumed responsibility for cash advances equal to $2,913,000.