SEC Form 4/A · accession 0001144204-15-058983
Net Element, Inc. · NETE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
This is an amendment (Form 4/A). It replaces an earlier filing for the same period.
Reporting owner
Oleg Firer
Officer — CEO · Director
Period of report
Sep 11, 2015
Accepted (ET)
Oct 9, 2015 · 7:49 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 |
|---|---|---|---|---|---|---|---|---|
| Restricted Shares of Common StockF4,F2 | Sep 11, 2015 | J | 2,857,143 | $0.14 | A | 2,857,143 | I | By: Star Equities, LLC |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Options of Common StockF2,F3 | $0.22 | Sep 11, 2015 | J | 2,857,143 | A | Sep 11, 2015 | Sep 11, 2020 | Restricted Shares of Common Stock | 2,857,143 | 2,857,143 | I |
Explanation of responses
- F1Net Element, Inc. issued 2,857,143 restricted shares of common stock to Star Equities, LLC pursuant to the terms of that certain Letter Agreement, dated as of September 11, 2015 (the "Letter Agreement"), as modified by the Additional Letter Agreement (see footnote 4) with respect to equity funding of Net Element, Inc. by Star Equities, LLC and certain other investors parties thereto.
- F2Oleg Firer is a managing member of Star Equities, LLC. Mr. Firer disclaims beneficial ownership of the securities held by Star Equities, LLC except to the extent of his pecuniary interest in such securities.
- F3Option exercise price per share. Options are issued pursuant to the terms of the Letter Agreement.
- F4The original Form 4, filed September 15, 2015, reported 2,142,857 shares of Restricted Shares of Common Stock and Restricted Options of Common Stock. This amendment is being filed to amend the total number of Restricted Shares of Common Stock and Restricted Options of Common Stock as 2,857,143 due to the Additional Letter Agreement, dated as of October 7, 2015 among Net Element, Inc., Star Equities, LLC and certain other investor parties thereto.