SEC Form 4 · accession 0001144204-15-024610
xG TECHNOLOGY, INC. · XGTI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Richard L Mooers
Director · 10% Owner
Period of report
Apr 20, 2015
Accepted (ET)
Apr 23, 2015 · 4:17 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 | Apr 22, 2015 | A | 40,224 | $0.25 | A | 49,351 | D |
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.
- F2Family entities and trusts for the benefit of Mr. Mooers' children beneficially own shares, options and warrants of the Registrant through MB Merchant Group, LLC, of which these family trusts and entities beneficially own 80%, which in turn is a 47.6% owner of MBTH
- F3The securities were issued to Mr. Mooers pursuant to the Company's 2013 Long-Term Stock Incentive Plan.