SEC Form 4 · accession 0001144204-15-024607
xG TECHNOLOGY, INC. · XGTI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Roger G Branton
Officer — Chief Financial Officer
Period of report
Apr 20, 2015
Accepted (ET)
Apr 23, 2015 · 4:15 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001565228
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Apr 20, 2015 | J | 131,343 | $0.28 | A | 10,377,574 | I | By MB Technology Holdings, LLC |
| Common StockF3,F4 | Apr 22, 2015 | A | 45,252 | $0.25 | A | 124,771 | I | Branton Partners LLC |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1MB Technology Holdings, LLC ("MBTH") acquired shares of xG Technology, Inc. (the "Company"), from Wennberg Industries, in exchange for shares of MBTH, at a valuation of $0.28 of MBTH shares per share of the Company acquired.
- F2Mr. Branton owns shares, options and warrants of the Registrant, through MB Merchant Group, LLC, of which he beneficially owns 20%, which in turn is a 47.6% owner of MBTH.
- F3The securities were issued to Mr. Branton pursuant to the Company's 2013 Long-Term Stock Incentive Plan.
- F4Various family entities, including Mr. Branton's spouse, children and trusts for the benefit of Mr. Branton's children beneficially own shares and warrants of the Company through Branton Partners, LLC, of which family trusts and entities beneficially own 100%.