SEC Form 4 · accession 0001437749-15-021013
TOWERSTREAM CORP · TWER
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jeffrey M Thompson
Officer — President and CEO · Director
Period of report
Nov 12, 2015
Accepted (ET)
Nov 16, 2015 · 9:53 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001349437
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Nov 12, 2015 | S | 147,525 | $0.57 | D | 1,890,518 | D | |
| Common Stock | Nov 13, 2015 | S | 91,453 | $0.53 | D | 1,799,065 | D | |
| Common Stock | Nov 16, 2015 | S | 195,000 | $0.49 | D | 1,604,065 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1On November 12, 13 and 16, 2015, Mr. Thompson was informed of the involuntary sale of these shares by Deutsche Bank Securities, Inc. ("Deutsche Bank"). These shares were held by Deutsche Bank as collateral to secure Mr. Thompson's obligations under a personal loan Mr. Thompson obtained from Deutsche Bank, to, among other things, meet certain tax obligations related to the vesting and payment of compensatory equity awards. After repayment of the loan with the proceeds from the sale by Deutsche Bank, the loan agreement will terminate and there will be no amounts outstanding under the agreement.