SEC Form 4 · accession 0001437749-17-011159
MAM SOFTWARE GROUP, INC. · MAMS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Lee Richard Broad
Officer — Chief Technology Officer
Period of report
Jun 8, 2017
Accepted (ET)
Jun 12, 2017 · 8:37 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000832488
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Jun 8, 2017 | M | 8,238 | $1.75 | A | 126,818 | D | |
| Common Stock | Jun 8, 2017 | F | 2,300 | $6.21 | D | 124,518 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option (Right to Buy)F3,F2 | $1.75 | Jun 8, 2017 | M | 8,238 | D | — | Sep 1, 2022 | Common Stock | 8,238 | 0 | D |
Explanation of responses
- F1The shares were received pursuant to the Company's Long-Term Stock Incentive Plan ("LTIP"), approved by the Company's shareholders on June 12, 2008. Stock grants awarded under this plan are accounted for in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC").
- F2All of the employee stock options granted on August 22, 2011 have fully vested and, as of this filing, been exercised.
- F3Due to an administrative error, Column 9 of Table II on Mr. Broad's prior Form 4, filed on April 3, 2017, omitted the employee stock options granted to Mr. Broad on August 22, 2011.
Remarks
Mr. Broad exercised 8,238 employee stock options as part of a cashless exercise whereby 2,300 shares were returned to the Company as payment for the exercise of those stock options, netting an increase of 5,938 shares.