SEC Form 4 · accession 0001088193-17-000005
MVP REIT, Inc.
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael V Shustek
Officer — CEO · Director
Period of report
Nov 9, 2017
Accepted (ET)
Nov 13, 2017 · 7:37 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001546609
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2,F4 | Nov 9, 2017 | A | 2,304 | — | A | 36,268 | I | Vestin Realty Mortgage II, Inc. |
| Common StockF3,F1,F2,F4 | Nov 9, 2017 | A | 896 | — | A | 36,268 | I | Vestin Realty Mortgage I, Inc. |
| Common StockF1,F2,F4 | Nov 9, 2017 | A | 118,932 | $8.563 | A | 36,268 | I | Vestin Realty Mortgage II, Inc. |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1On November 9, 2017, Corporate Center Sunset Holdings, LLC ("Holdings") acquired 3,200 shares of common stock of MVP REIT, Inc. as purchase price adjustment (in lieu of a cash) in connection with the sale of certain real property interests to a third party, of which 2,304 shares, or 72%, is deemed beneficially owned by Vestin Realty Mortgage II, Inc. ("VRM II"). At the closing of such transaction on October 18, 2017, Holdings acquired 1,036,420 shares of the Issuer's common stock as partial purchase price consideration, of which 746,222.4 shares are beneficially owned by VRM II as previously reported on a Form 4 filed by Mr. Shustek on October 20, 2017. As a result, VRM II beneficially owns an aggregate of 867,458 shares as partial purchase price consideration for the sale of such real property interest.
- F2In a separate transaction on November 9, 2017, VRM II and MVP REIT II, Inc. each acquired 118,647.18 shares of the Issuer's common stock from a third party. On November 10, 2017, MVP REIT paid a prorated stock distribution to all their shareholders, which resulted in an additional 284.753 shares to both VRM II and MVP REIT II. As a result, as of the date hereof, VRM II owns an aggregate of 867,458 shares of the Issuer's common stock. Michael V. Shustek is a director and executive officer of VRM II, and owns 494 shares of VRM II common stock as of the date hereof, which represents approximately 29.99% of the total outstanding VRM II shares as of the date hereof. Mr. Shustek disclaims beneficial ownership of the Issuer common stock held by VRM II.
- F3VRM I is deemed to beneficially own 896 shares, or 28%, of the Issuer's common stock acquired by Holdings on November 9, 2017, in the transaction described in footnote 1 and 2. As a result, as of the date hereof, VRM I is deemed to beneficially own 368,638 shares of the Issuer's common stock, including 290,197.6 of the shares acquired by Holdings at the closing of the transaction described in footnote 1 and 2. Michael V. Shustek is a director and executive officer of VRM I, and owns 156,113 shares of VRM I common stock as of the date hereof, which represents approximately 13.41% of the total outstanding VRM I shares as of the date hereof. Mr. Shustek disclaims beneficial ownership of the Issuer common stock held by VRM I.
- F4As of the date hereof, Mr. Shustek has total indirect beneficial ownership in 36,095 shares of the Issuer's common stock, of which 6,560 shares are held by Peggy M. Shustek Trust, FBO Andrew M. Shustek, and 29,708 shares are held by MVP Capital Partners LLC. Mrs. Shustek is Mr. Shustek's spouse and his son is Andrew Shustek. MVP Capital Partners, LLC is a company wholly owned by Mr. Shustek.