SEC Form 4 · accession 0001553350-16-001935
ASPEN GROUP, INC. · ASPU
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael Mathews
Officer — Chief Executive Officer · Director
Period of report
Apr 22, 2016
Accepted (ET)
Apr 25, 2016 · 5:10 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001487198
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Apr 22, 2016 | A | 1,578,947 | — | A | 6,074,505 | D | |
| Common StockF2 | Apr 22, 2016 | M | 12,106 | — | A | 6,086,611 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Convertible NoteF1 | $1.00 | Apr 22, 2016 | D | 300,000 | D | Mar 13, 2012 | May 31, 2017 | Common Stock | 300,000 | 0 | D |
| Convertible NoteF1 | $0.19 | Apr 22, 2016 | A | 300,000 | A | Apr 22, 2016 | May 31, 2017 | Common Stock | 1,578,947 | 1,578,947 | D |
| Convertible NoteF1 | $0.19 | Apr 22, 2016 | M | 300,000 | D | Apr 22, 2016 | May 31, 2017 | Common Stock | 1,578,947 | 0 | D |
Explanation of responses
- F1In accordance with Rule 16b-3 of the Securities Exchange Act of 1934, the reporting person agreed to cancellation of the note previously issued to him in exchange for a new note ("New Note") having a lower conversion price. The reporting person converted the New Note on the Transaction Date.
- F2The shares were issued in lieu of cash interest accrued to date due under the cancelled note referenced in footnote (1) above.