SEC Form 5 · accession 0001144204-17-009118
xG TECHNOLOGY, INC. · XGTI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
George Frederick Schmitt
Officer — Chief Executive Officer · Director
Period of report
Dec 31, 2016
Accepted (ET)
Feb 14, 2017 · 6:52 pm EST
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,F3 | Oct 27, 2016 | J | 2,977 | $48.00 | A | 70,819 | D | |
| Common StockF2,F3 | Oct 27, 2016 | J | 25,000 | $4.00 | A | 95,819 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WarrantsF1,F3 | $8.40 | Oct 27, 2016 | J | 20,834 | A | Oct 27, 2016 | Oct 27, 2021 | Common Stock | 20,834 | 20,834 | D |
Explanation of responses
- F1In August 2015, Mr. Schmitt advanced $500,000.00 (the "Indebtedness Amount") to the Issuer. In partial repayment of the Indebtedness Amount (the "Repayment"), the Issuer issued to Mr. Schmitt 2,977 shares of the Issuer's common stock, par value $0.00001 per share (the "Common Stock") and warrants to purchase 20,834 shares of Common Stock.
- F2The Issuer issued Mr. Schmitt shares of the Common Stock in consideration for Mr. Schmitt's personal guaranty of the payables underlying the Asset Purchase Modification Agreement entered into by and between the Issuer and Integrated Microwave Technologies, LLC on April 12, 2016.
- F3Share totals have been adjusted to reflect a 1-for- reverse stock split effected by the Issuer on December 15, 2016.