SEC Form 4 · accession 0001477932-18-002142
ShiftPixy, Inc. · PIXY
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
John Stephen Holmes
10% Owner
Period of report
Apr 27, 2018
Accepted (ET)
May 1, 2018 · 6:42 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001675634
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock, par value $0.0001F1 | Apr 27, 2018 | J | 710,000 | $0.00 | D | 11,790,000 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1On April 27, 2018, the Reporting Person transferred and pledged 710,000 shares to Stock Loan Solutions, LLC ("Lender") as collateral for a non-recourse loan. The term of the loan is 3 years. The Reporting Person intends to use a portion of the proceeds from the term loan to liquidate some personal obligations. As beneficial owner of the shares pledged to it as collateral, Lender may take any and all actions with respect to such shares, including selling, assigning, transferring, pledging, hypothecating, lending, or encumbering the same, or enter into hedging arrangements, or create and trade derivative instruments backed by such shares as called for in the loan agreements. Absent a default, the Reporting Person retains a conditional right to exercise the voting rights applicable to such shares. The Reporting Person may, within applicable timeframes, elect for the loan to be a Full Recourse Loan, thereby retaining the right to recover the collateral.