SEC Form 4 · accession 0001680070-16-000003
NOBLE ROMANS INC · NROM
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Marcel Herbst
Director
Period of report
Nov 8, 2016
Accepted (ET)
Nov 9, 2016 · 1:07 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000709005
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Convertible, subordinated, unsecured promissory notesF2,F1 | $0.50 | Nov 8, 2016 | A | — | A | Nov 8, 2016 | Nov 8, 2019 | Noble Romans Inc. | 600,000 | 635,000 | I |
Explanation of responses
- F1The Convertible and attached warrants are held in the account of Herbst Capital Management, LLC. (the "fund") for which Herbst Capital Partners, LLC (the "General Partner") serves as its manager. Marcel Herbst is the General Manager of Herbst Capital Partners, LLC and also serves as the Portfolio Manager of Herbst Capital Management, LLC. Mr. Herbst may be deemed to beneficially own these securities held by the fund by virtue of the General Partner's position in the fund and Mr. Herbst's status as the general manager of the General Partner and his status as portfolio manager of the fund.
- F2Interest on the Notes accrues at the annual rate of 10% and is payable quarterly in arrears. Principal of the Notes matures three years after issuance. Each holder of the Notes may convert them at any time into Common Stock of the Company at a conversion price of $0.50 per share. The Warrants expire three years from the date of issuance and provide for an exercise price of $1.00 per share of Common Stock