SEC Form 4 · accession 0001144204-17-040560
PRECISION OPTICS CORPORATION, INC. · POCI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owners
Hershey Strategic Capital, LP
10% Owner
HERSHEY MANAGEMENT I, LLC.
10% Owner
HERSHEY STRATEGIC CAPITAL GP, LLC
10% Owner
Period of report
Aug 3, 2017
Accepted (ET)
Aug 4, 2017 · 3:46 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000867840
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | holding | — | — | — | 1,460,980 | I | See Footnote |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WarrantsF4,F1,F2 | $0.40 | Aug 3, 2017 | J | 62,500 | A | Oct 2, 2017 | Oct 16, 2017 | Common Stock | 62,500 | 62,500 | I |
Explanation of responses
- F1This Form 4 is being filed on behalf of Hershey Strategic Capital, LP, Hershey Management I, LLC and Hershey Strategic Capital GP, LLC. Hershey Strategic Capital, LP owns all of the 1,460,980 shares of Common Stock and 62,500 Warrants directly. Hershey Management I, LLC is the investment advisor of Hershey Strategic Capital, LP and disclaims beneficial ownership in such shares. Hershey Strategic Capital GP, LLC is the general partner of Hershey Strategic Capital, LP and disclaims beneficial ownership in such shares except to the extent of its pecuniary interest in such shares. As the investment advisor, Hershey Management I, LLC has the voting and dispositive power with respect to all of the 1,460,980 shares of Common Stock. Accordingly, the ownership form of the shares for Hershey Management I, LLC and Hershey Strategic Capital GP, LLC is indirect.
- F2The exercise price of the warrant is subject to reduction in the event the Issuer fails to meet certain financial benchmarks during the fiscal year ended June 30, 2017.
- F3The Warrants were acquired on November 22, 2016; however, pursuant to the terms of the Warrants, they are not exercisable until October 2, 2017. The Reporting Persons are filing this Form 4 at this time because the Warrants became exercisable within 60 days on August 3, 2017.
- F4The Warrants were acquired as part of a Unit. Each Unit consisted on one share of Common Stock and a Warrant to acquire one-half share of Common Stock. The price of each Unit was $.60