SEC Form 4 · accession 0001019056-18-000007
SIEBERT FINANCIAL CORP · SIEB
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Gloria E Gebbia
Director · 10% Owner · Other
Period of report
Dec 29, 2017
Accepted (ET)
Jan 3, 2018 · 4:15 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000065596
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock, $0.01 par value per shareF1 | Dec 29, 2017 | J | 288,537 | — | A | 2,581,337 | D | |
| Common Stock, $0.01 par value per shareF3,F2 | Dec 29, 2017 | J | 3,957,075 | — | A | 20,074,295 | I | See footnotes |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1On December 29, 2017, StockCross Financial Services, Inc., a Massachusetts corporation ("StockCross") transferred to its shareholders, in accordance with Mass. Gen. Laws Ann. ch. 156D, ? 6.40 (Distributions to shareholders) (the "Transfer"), an aggregate of 5,072,062 shares of common stock ("Common Stock") of Siebert Financial Corp. ("Issuer"), which shares were received by StockCross on December 29, 2017 pursuant to an Asset Purchase Agreement. In accordance with the Transfer, the Reporting Person received 288,537 shares of Common Stock of the Issuer from StockCross. No consideration was paid for such shares received in the Transfer.
- F2Such aggregate 20,074,294 shares of Issuer Common Stock may be deemed to be beneficially owned by the Reporting Person and represents (a) 14,987,283 shares of Issuer Common Stock directly owned by Kennedy Cabot Acquisition, LLC ("KCA"), which the Reporting Person is the managing member, (b) 136,537 shares of Issuer Common Stock owned by StockCross, an entity which the Reporting Person is a director of and has an ownership interest in and (c) 4,932,075 shares of Issuer Common Stock held by various members of the Gebbia family. The Reporting Person expressly disclaims beneficial ownership of the securities reported herein except to the extent of her pecuniary interest therein.
- F3Represents shares of Issuer Common Stock issued to members of the Gebbia family in the Transfer. No consideration was paid for such shares.