SEC Form 4 · accession 0001622181-16-000004
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
Aug 22, 2016
Accepted (ET)
Aug 29, 2016 · 9:47 am 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 | holding | — | — | — | 30,811,268 | 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 Preferred StockF1,F8,F7,F10 | — | Aug 22, 2016 | A | 23,264 | A | Aug 22, 2016 | — | Common Stock | — | 7 | D |
| Series C Preferred StockF1,F9,F7,F10 | — | holding | — | — | — | — | — | Common Stock | — | 9 | D |
| Warrants (right to buy)F3 | $3.51 | holding | — | — | — | Oct 24, 2014 | Oct 24, 2019 | Common Stoock | 225,000 | 225,000 | D |
| Warrants (right to buy)F4 | $2.98 | holding | — | — | — | Nov 25, 2014 | Nov 25, 2019 | Common Stock | 150,000 | 150,000 | D |
| Warrants (right to buy)F5 | $3.63 | holding | — | — | — | Dec 15, 2014 | Dec 15, 2019 | Common Stock | 775,000 | 775,000 | D |
| Warrants (right to buy)F6 | $1.78 | holding | — | — | — | Mar 16, 2015 | Mar 16, 2020 | Common Stock | 350,000 | 350,000 | D |
Explanation of responses
- F1This transaction was exempt from the provisions of Section1 6(b) pursuant to Rule 16b-3 thereunder.
- F10The Series C Preferred Shares are exchangeable for common shares pursuant to a pre-existing exchange agreement. Any exchange is subject to certain conditions, but there is no expiration on the time at which such exchange may occur.
- F2The Reporting Person previously purchased 10,000 shares of the Issuer's Series C Preferred Stock at a price of $1,000 per share. 7,000 shares of Series C Preferred Stock were exchanged for 22,580,645 shares of the Issuer's common stock in a transaction exempt from the provisions of Section 16(b) pursuant to Rule 16b-3 thereunder.
- F3Warrants previously acquired by the Reporting Person, exercisable at $3.51 per share.
- F4Warrants previously acquired by the Reporting Person, exercisable at $2.98 per share.
- F5Warrants previously acquired by the Reporting Person, exercisable at $3.63 per share.
- F6Warrants previously acquired by the Reporting Person, exercisable at 1.78 per share.
- F7Subject to existing Exchange Agreement, the Series C Preferred Shares are convertible into common shares, the number of which will be based on the pricing at the time of conversion.
- F8Debt held by SIC III was exchanged for shares of Series C Preferred Stock.
- F9The Reporting Person previously held 3,000 shares of Series C Preferred Stock. The Reporting Person continues to hold those shares, but the terms of those shares were changed, such that the shares are no longer convertible by their terms. However, the shares are subject to an Exchange Agreement. See footnote (7).