SEC Form 4 · accession 0000899243-17-029338
FTE Networks, Inc. · FTNW
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owners
Richard de Silva
10% Owner
LATERAL INVESTMENT MANAGEMENT, LLC
10% Owner
Lateral Credit Opportunities, LLC
10% Owner
Lateral FTE Feeder LLC
10% Owner
Patrick James Feeney
10% Owner
Period of report
Dec 4, 2017
Accepted (ET)
Dec 20, 2017 · 5:42 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001122063
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2,F3,F4,F5 | Dec 4, 2017 | J | 350,538 | — | A | 701,076 | I | See footnotes |
| Common StockF1,F2,F3,F4,F5 | Dec 4, 2017 | J | 350,538 | — | D | 701,076 | I | See footnotes |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Contractual right to receive Common StockF1,F2,F3,F4,F5 | — | Dec 4, 2017 | J | 135,986 | D | — | — | Common Stock | 135,986 | 1,127,739 | I |
| Contractual right to receive Common StockF1,F2,F3,F4,F5 | — | Dec 4, 2017 | J | 135,986 | A | — | — | Common Stock | 135,986 | 1,127,739 | I |
Explanation of responses
- F1Lateral FTE Feeder LLC, Lateral Investment Management, LLC and Lateral U.S. Credit Opportunities Fund, L.P. are the record holder of 486,524 shares, 254,734 shares, and 811,104 shares of Common Stock of the Issuer, respectively. In connection with certain lending arrangements, Lateral FTE Feeder LLC, Lateral Investment Management, LLC and Lateral U.S. Credit Opportunities Fund, L.P. hold certain contractual rights to be issued Common Stock, however, such shares have not yet been issued as of the date of this filing. Lateral Investment Management, LLC is the sole manager of Lateral FTE Feeder LLC, and Dhamitha Richard de Silva and Patrick Feeney are the sole managers of Lateral Investment Management, LLC.
- F2(Continued from Footnote 1) As a result of the foregoing relationships, each of Lateral Investment Management, LLC, Dhamitha Richard de Silva and Patrick Feeney may be deemed to beneficially own the shares of Common Stock held by Lateral FTE Feeder LLC. On December 4, 2017, Lateral Investment Management, LLC served as the intermediary in a transaction between certain of Lateral FTE Feeder LLC's limited partners, and as a result, was, temporarily, a 100.0% owner of Lateral FTE Feeder LLC. The filing is being made to report the temporary change in pecuniary interest of Lateral Investment Management, LLC as a result of their direct ownership in Lateral FTE Feeder LLC. As of the date of this filing, Lateral Investment Management, LLC owns no interests in the other reporting persons.
- F3(Continued from Footnote 2) Lateral Investment Management, LLC has a management agreement with Lateral U.S. Credit Opportunities Fund, L.P.; Lateral Credit Opportunities, LLC is the sole general partner of Lateral U.S. Credit Opportunities Fund, L.P.; and Dhamitha Richard de Silva and Patrick Feeney are the sole managers of Lateral Credit Opportunities, LLC. As a result of the foregoing relationships, each of Lateral Investment Management, LLC; Lateral Credit Opportunities, LLC; Dhamitha Richard de Silva and Patrick Feeney may be deemed to beneficially own the shares of Common Stock held by Lateral U.S. Credit Opportunities Fund, L.P.
- F4Lateral Investment Management, LLC is the sole manager of Lateral FTE Feeder LLC and has a management agreement with Lateral U.S. Credit Opportunities Fund, L.P. Lateral Credit Opportunities, LLC is the sole general partner of Lateral U.S. Credit Opportunities Fund, L.P. Dhamitha Richard de Silva and Patrick Feeney are the sole managers of Lateral Investment Management, LLC and Lateral Credit Opportunities, LLC.
- F5The right to receive Common Stock reported above is held by Lateral FTE Feeder LLC, Lateral Investment Management, LLC and Lateral U.S. Credit Opportunities Fund, L.P.
Remarks
The Reporting Persons filing this Form 4 jointly are the following: Lateral Investment Management, LLC; Lateral FTE Feeder LLC; Lateral U.S. Credit Opportunities Fund, L.P.; Lateral Credit Opportunities, LLC; Dhamitha Richard de Silva and Patrick Feeney. The address of each of the Reporting Persons is 1825 South Grant Street, Suite 210, San Mateo, CA 94402-2672. Kenneth Masters no longer has voting control of any of the reporting persons and, as a result, has been removed as a reporting person.