SEC Form 4 · accession 0001144204-16-126867

GOLDEN ENTERPRISES INC · GLDC

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Officer — CEO and President · Director

Period of report

Sep 30, 2016

Accepted (ET)

Oct 4, 2016 · 7:18 pm EDT

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0000042228

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	D/I	Nature of ownership
Common Stock^F1	Sep 30, 2016	S	3,816	$12.00	D	I	See Footnote
Common Stock^F2	Sep 30, 2016	S	5,231,128	$12.00	D	I	By SYB, Inc.
Common Stock^F2	Sep 30, 2016	S	600,279	$12.00	D	I	By Testamentary Marital Trust

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Stock Option^F3,F4	$3.84	Sep 30, 2016	S	50,000	D	Apr 23, 2016	Apr 9, 2016	Common Stock	50,000	0	D

F1Owned by 401(k) Plan account for the benefit of Mark W. McCutcheon.
F2Mr. McCutcheon serves on the Voting Committee created under the Will of and the SYB, Inc. Common Stock Trust created by Sloan Y. Bashinsky, Sr. (AMr. Bashinsky@). The Voting Committee voted the shares of Issuer=s stock owned by the Marital Trust created by the Will of Mr. Bashinsky and the shares owned by SYB, Inc. As part of a merger of Golden Enterprises, Inc. with an unrelated entity, SYB, Inc. and the Marital Trust have sold all Shares of Common Stock of the Issuer and the Voting Committee ceased to exist. Mr. McCutcheon disclaims beneficial ownership of such Shares and proceeds therefrom.
F3Issuer is merging with an unrelated third party and upon merger stock options will be cancelled, whether or not vested, and the option holder will be paid an amount equal to $12.00 minus the per share exercise price multiplied by the number of stock options.
F4The stock options vested in two unequal installments beginning on 4/23/2016.