SEC Form 4 · accession 0001145839-19-000001
Good Times Restaurants Inc. · GTIM
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Period of report
Dec 31, 2018
Accepted (ET)
Jan 3, 2019 · 10:59 am EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000825324
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Dec 31, 2018 | J | 6,200 | $2.50 | D | 0 | I | Footnote |
| Common StockF2 | Dec 31, 2018 | J | 5,364 | $2.50 | A | 2,019,577 | I | Footnote |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF3 | — | holding | — | — | — | — | — | Common Stock | 2,740 | 2,740 | D |
Explanation of responses
- F1Reporting Person, Delta Partners, LP, is the investment manager for private funds, Delta Growth Master Fund LP and Delta Growth Partners, LP, and is deemed to have beneficial ownership. Delta Growth Partners, LP, through master fund Delta Growth Master Fund, LP, the actual owner of the shares, made a pro rata distribution for no consideration of an aggregate amount of 6,200 shares of Common Stock of the Issuer to its partners as of December 31, 2018. Each of Delta Partners, LP, Delta Advisors, LLC, Delta Partners, GP, LLC and Charles Jobson disclaims Section 16 beneficial ownership except to the extent, if any, of their pecuniary interest.
- F2In connection with the distribution described in Footnote (1), Reporting Person Charles Jobson received an aggregate of 2,746 shares of Common Stock of the Issuer making his direct ownership 2,014,109 shares, which includes 208,333 common shares held by the Jobson Family Foundation, an entity controlled by Mr. Jobson. Reporting Person, Delta Advisors, LLC, received an aggregate of 2,618 shares of Common Stock making its direct ownership 5,468 shares. Charles Jobson, a member of the Board of Directors of the Issuer, is the principal of Delta Partners and managing member of Delta Partners GP, and Delta Advisors and can be deemed to have investment discretion.
- F3Each restricted stock unit represents a contingent right to receive one share of GTIM common stock. The restricted stock unit will vest 1/3 per year over three years from the grant date.