SEC Form 4 · accession 0001179110-16-031642
GWG Holdings, Inc. · GWGH
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jon Sabes
Officer — Chief Executive Officer · Director · 10% Owner
Period of report
Nov 10, 2016
Accepted (ET)
Nov 15, 2016 · 8:08 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001522690
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock, $.001 par value | holding | — | — | — | 1,290,819 | D | ||
| Common Stock, $.001 par valueF1 | holding | — | — | — | 743,840 | I | By Trusts | |
| Common Stock, $.001 par value | holding | — | — | — | 102,191 | I | By family members who reside in the Reporting Person's household | |
| Common Stock, $.001 par valueF2 | holding | — | — | — | 100,000 | I | By Insurance Strategies Fund, LLC |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Options (right to buy)F3 | $9.47 | Nov 10, 2016 | A | 162,500 | A | — | Nov 9, 2021 | Common Stock | 162,500 | 162,500 | D |
Explanation of responses
- F1Held by certain trusts, of which the Reporting Person is a beneficiary.
- F2A Delaware limited liability company managed by ISF Management, LLC, a Delaware limited liability company, of which the Reporting Person is a manager. The Reporting Person disclaims beneficial ownership of the shares held by Insurance Strategies Fund, LLC, except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all the reported shares for the purposes of Section 16 or for any other purpose.
- F3Purchase rights under the 162,500 share option vest as follows: 13,541 shares vest immediately, and the remainder vest quarterly over a three year period. The reported grant is part of a larger grant that included a second and separate 162,500 share option that vests upon the satisfaction of certain performance-based criteria. The performance-based option will not be reported under Section 16 until the vesting criteria have been satisfied.
Remarks
Power of attorney filed on 9/19/2014.