SEC Form 4 · accession 0001448562-15-000001
Applied Minerals, Inc. · AMNL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
David A Taft
Director · 10% Owner
Period of report
Feb 12, 2015
Accepted (ET)
Feb 17, 2015 · 3:44 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000008328
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2,F3 | Feb 12, 2015 | A | 50,000 | $0.66 | A | 22,381,153 | I | See footnotes |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1David A. Taft (the "Reporting Person") is a director of Applied Minerals, Inc. (the "Issuer"), and president and a member of IBS Capital LLC ("IBS Capital), which is the general partner of The IBS Turnaround Fund (QP) (A Limited Partnership) (the "QP Fund") and The IBS Turnaround Fund, L.P. (the "LP Fund"). IBS Capital is the investment manager of The IBS Opportunity Fund, Ltd. (the "Opportunity Fund") (the QP Fund, the LP Fund and the Opportunity Fund are hereinafter referred to as the "IBS Capital Funds").
- F2The Reporting Person received 50,000 shares of the Issuer's Common Stock (the "Shares") as compensation for his services as a director of the Issuer. The Shares will be allocated to the IBS Capital Funds so that, following such allocation: (i) 13,814,050 shares of the Issuer's Common Stock were directly beneficially owned by QP Fund, (ii) 6,572,509 shares of the Issuer's Common Stock were directly beneficially owned by LP Fund and (iii) 1,994,594 shares of the Issuer's Common Stock were directly beneficially owned by Opportunity Fund (for the avoidance of doubt, the Opportunity Fund was not allocated any of the Shares).
- F3By virtue of Mr. Taft's position as president and member of IBS Capital, Mr. Taft may be deemed to be the beneficial owner of the securities for purposes of the SEC Rule 16(a)-1(a). The Reporting Person disclaims any beneficial ownership of the securities except to the extent of any pecuniary interest.