SEC Form 4 · accession 0001622181-16-000003
Function(x) Inc. · FNCX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Sillerman Investment Co III, LLC
Director · 10% Owner
Period of report
Jun 3, 2016
Accepted (ET)
Jun 16, 2016 · 2:51 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000725876
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Jun 3, 2016 | M | 22,580,645 | — | A | 22,580,645 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Series C Convertible Preferred StockF3 | $0.31 | Jun 3, 2016 | M | 7,000 | D | — | — | Common Stock | 7,000 | 3,000 | D |
| Warrants (right to buy)F4 | $3.51 | holding | — | — | — | Oct 24, 2014 | Oct 24, 2019 | Common Stock | 225,000 | 225,000 | D |
| Warrants (right to buy)F5 | $2.98 | holding | — | — | — | Nov 25, 2014 | Nov 25, 2019 | Common Stock | 150,000 | 150,000 | D |
| Warrants (right to buy)F6 | $3.63 | holding | — | — | — | Dec 15, 2014 | Dec 15, 2019 | Common Stock | 775,000 | 775,000 | D |
| Warrants (right to buy)F7 | $1.78 | holding | — | — | — | Mar 16, 2015 | Mar 16, 2020 | Common Stock | 350,000 | 350,000 | D |
Explanation of responses
- F1Acquired in a transaction exempt from the provisions of Section 16(b) pursuant to Rule 16b-3 thereunder.
- F2Sillerman Investment Company ("SIC III") previously purchased 10,000 shares of the Issuer's Series C Convertible Preferred Stock. 7,000 shares of Series C Convertible Preferred Stock were exchanged for 22,580,645 shares of the Issuer's common stock in a transaction exempt from the provisions of Section (b) pursuant to Rule 16b-3 thereunder.
- F3SIC III purchased 10,000 shares of the Issuer's Series C Convertible Preferred Stock at a price of $1,000 per share. Each share has a stated value of $1,000, and is convertible into common stock at a conversion price of $4 per share. The 10,000 shares of Series C Convertible Preferred Stock are convertible into 2,500,000 shares of the Issuer's common stock. Such shares are convertible upon issuance and for a period of five years thereafter. 7,000 shares of Series C Convertible Preferred Stock were issued on March 16, 2015 and were convertible on that date. Those shares are convertible through March 16, 2020, at which time they are subject to mandatory redemption by the Issuer. 3,000 shares of Series C Convertible Preferred Stock were issued on November 25, 2014 and were convertible on that date. Those shares are convertible through November 25, 2019, at which time they are subject to mandatory redemption by the Issuer.
- F4Warrants previously acquired by SIC III, exercisable at $3.51 per share.
- F5Warrants previously acquired by SIC III, exercisable at $2.98 per share.
- F6Warrants previously acquired by SIC III, exercisable at $3.63 per share.
- F7Warrants previously acquired by SIC III, exercisable at $1.78 per share.