SEC Form 4 · accession 0000899243-16-023944
Net Element, Inc. · NETE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Kenges Rakishev
Director · 10% Owner
Period of report
Jun 28, 2016
Accepted (ET)
Jun 30, 2016 · 9:05 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001499961
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F3,F2 | Jun 28, 2016 | A | 1,500 | $0.00 | A | 1,952,247 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1The number of Shares (as defined below) has been adjusted to reflect a 10-1 reverse stock split on May 25, 2016. "Shares" are shares of common stock of the Issuer, par value $0.0001 per share.
- F2As disclosed on Amendment No. 6 to Schedule 13D filed by Mr. Rakishev with the Securities and Exchange Commission on April 14, 2016, on April 8, 2016 Novatus Holding PTE. Ltd., a private limited company organized under the laws of Singapore (of which Mr. Rakishev is the sole shareholder), transferred 7,320,751 Shares held directly by Novatus to Mr. Rakishev for no consideration. Such transfer effected only a change in form of beneficial ownership pursuant to Rule 16a-3 promulgated under the Securities Exchange Act of 1934, as amended, and, as a result, all Shares previously reported to be held by Mr. Rakishev indirectly through Novatus are now held directly by Mr. Rakishev.
- F3Mr. Rakishev disclaims beneficial ownership of these Shares except to the extent of his pecuniary interest therein.