SEC Form 4 · accession 0001140361-16-047650
TOFUTTI BRANDS INC · TOFB
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
David Mintz
Officer — Chief Executive Officer · Director · 10% Owner
Period of report
Jan 6, 2016
Accepted (ET)
Jan 12, 2016 · 5:25 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000730349
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| $500,000Promissory Note due December 31, 2017F1 | $4.01 | Jan 6, 2016 | J | — | A | Jan 7, 2016 | Dec 31, 2017 | Common Stock | — | 0 | D |
Explanation of responses
- F1The Reporting Person entered into a loan agreement with the Issuer, evidenced by a promissory note, whereby the Reporting Person agreed to loan the Issuer $500,000 until December 31, 2017. The loan will bear interest at 5% per annum payable quarterly commencing March 31, 2016 without compounding. The loan amount, or any part thereof, including any interest or default interest, is convertible into shares of the Registrant's Common Stock at a conversion price of $4.01 per share at any time between January 6, 2016 and December 31, 2017.