SEC Form 4 · accession 0001144204-17-053642
Net Element, Inc. · NETE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Oleg Firer
Officer — Chief Executive Officer · Director · 10% Owner
Period of report
Oct 20, 2017
Accepted (ET)
Oct 23, 2017 · 5:39 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 StockF1,F2 | Oct 20, 2017 | J | 67,312 | — | A | 353,027 | I | By: Star Equities LLC |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Such shares were issued to Star Equities LLC pursuant to the conversion of that certain promissory note dated March 1, 2017 by Net Element, Inc. to Star Equities LLC of the entire outstanding amount of $374,253.13 (including the principal amount of $348,083.32 and accrued and unpaid interest), for a purchase price of $5.56 per share.
- 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.