SEC Form 4 · accession 0001640334-17-002028
Generation NEXT Franchise Brands, Inc. · VEND
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Arthur Scott Budman
Officer — Chief Executive Officer · Director
Period of report
Sep 21, 2017
Accepted (ET)
Sep 25, 2017 · 7:21 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001526689
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Sep 21, 2017 | J | 90,000 | $0.00 | D | 160,000 | D | |
| Common Stock | Sep 21, 2017 | G | 7,083 | $0.00 | D | 152,917 | D | |
| Common Stock | Sep 21, 2017 | G | 7,082 | $0.00 | D | 145,835 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1The reporting person transferred 90,000 shares of VEND common stock to his ex-wife pursuant to a divorce order. The reporting person no longer reports as beneficially owned any securities owned by his ex-wife.
- F2This transaction involved a gift of securities by the reporting person to his daughters. The reporting person disclaims beneficial ownership of the shares held by his daughters, and this report should not be deemed an admission that the reporting person is the beneficial owner of his daughters' shares for purposes of Section 16 or for any other purpose.