SEC Form 4 · accession 0001144204-16-123792

CROSSROADS SYSTEMS INC · CRSS

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

Table I — non-derivative securities

Table II — derivative securities

Explanation of responses

• F1This Form 4 is filed jointly by Lone Star Value Investors, LP ("Lone Star Value Investors"), Lone Star Value Investors GP, LLC ("Lone Star Value GP"), Lone Star Value Management, LLC ("Lone Star Value Management"), Lone Star Value Co-Invest I, LP ("Lone Star Value Co-Invest") and Jeffrey E. Eberwein (collectively, the "Reporting Persons"). Each Reporting Person is a member of a reporting group that owns in the aggregate more than 10% of the Issuer's outstanding shares of Common Stock. Each Reporting Person disclaims beneficial ownership of the shares of Common Stock reported herein except to the extent of his or its pecuniary interest therein, and this report shall not be deemed to be an admission that any Reporting Person is the beneficial owner of such shares of Common Stock for purposes of Section 16 or for any other purpose.
• F10The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $4.11 to $4.20, inclusive. The Reporting Persons undertake 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, and the underlying identity of the separately managed account.`
• F11The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $3.95 to $4.01, inclusive. The Reporting Persons undertake 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, and the underlying identity of the separately managed account.
• F12The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $3.87 to $3.94, inclusive. The Reporting Persons undertake 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, and the underlying identity of the separately managed account.
• F2Represents shares previously reported as directly beneficially owned by Mr. Eberwein but which were transferred to Lone Star Value Co-Invest, an entity of which Mr. Eberwein is the sole investor and sole owner, on July 18, 2016. Lone Star Value GP, as the general partner of Lone Star Value Co-Invest, may be deemed the beneficial owner of the securities owned by Lone Star Value Co-Invest. Lone Star Value Management, as the investment manager of Lone Star Value Co-Invest, may be deemed the beneficial owner of the securities owned by Lone Star Value Co-Invest. Mr. Eberwein, as the sole investor and sole owner of Lone Star Value Co-Invest, the manager of Lone Star Value GP and sole member of Lone Star Value Management, may be deemed the beneficial owner of the securities owned by Lone Star Value Co-Invest. Mr. Eberwein expressly disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
• F3Securities owned directly by Lone Star Value Investors. Lone Star Value GP, as the general partner of Lone Star Value Investors, may be deemed the beneficial owner of the securities owned by Lone Star Value Investors. Lone Star Value Management, as the investment manager of Lone Star Value Investors, may be deemed the beneficial owner of the securities owned by Lone Star Value Investors. Mr. Eberwein, as the manager of Lone Star Value GP and sole member of Lone Star Value Management, may be deemed the beneficial owner of the securities owned by Lone Star Value Investors. Mr. Eberwein expressly disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
• F4The 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 on behalf of an account separately managed by Lone Star Value Management (the "Separately Managed Account I") on June 21, 2016.
• F5Shares held in 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.
• F6The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $4.15 to $4.21, inclusive. The Reporting Persons undertake 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, and the underlying identity of the separately managed account.
• F7The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $4.18 to $4.21, inclusive. The Reporting Persons undertake 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, and the underlying identity of the separately managed account.
• F8The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $4.10 to $4.21, inclusive. The Reporting Persons undertake 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, and the underlying identity of the separately managed account.
• F9The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $4.07 to $4.18, inclusive. The Reporting Persons undertake 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, and the underlying identity of the separately managed account.