SEC Form 4 · accession 0000899243-18-017012
ASURE SOFTWARE INC · ASUR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Daniel M Gill
Director
Period of report
Jun 18, 2018
Accepted (ET)
Jun 18, 2018 · 4:37 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000884144
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock, par value $0.01F1,F2,F3,F4 | Jun 18, 2018 | S | 500,000 | $16.45 | D | 1,026,332 | I | See footnotes |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Represent shares of Asure Software Inc.'s (the "Issuer") common stock sold in an underwritten secondary offering.
- F2Represents the sale price to the underwriters in the secondary offering of $16.45 per share.
- F3These shares are held directly by iSystems Holdings, LLC. ("Holdings"). Silver Oak iSystems, LLC ("iSystems LLC") is the owner of a controlling interest in Holdings and has the right to appoint a majority of the managers of Holdings. Silver Oak Services Partners II, L.P. ("SOSP II") is the sole member of iSystems LLC. Silver Oak Management II, L.P. ("SOM II") is the general partner of SOSP II. Silver Oak Services Partners, LLC ("SOSP LLC") is the general partner of SOM II. Daniel M. Gill and Gregory M. Barr are the sole members of SOSP LLC, each owning a 50% interest in SOSP LLC, who acting together, have the power to direct the decisions of SOSP II regarding the vote and disposition of securities held directly by Holdings. Consequently, Mr. Gill may be deemed to be an indirect beneficial owner of the shares held directly by Holdings. Mr. Gill expressly disclaims beneficial ownership of shares held directly by Holdings, except to the extent of his pecuniary interest therein.
- F4As a result of this transaction, Holdings, iSystems LLC, SOSP II, SOM II, SOSP LLC and Mr. Barr have direct or indirect ownership of the Issuer of less than 10% and are no longer subject to Section 16 reporting with respect to the Issuer. Holdings, iSystems LLC, SOSP II, SOM II, SOSP LLC and Mr. Barr are filing a separate Form 4 for this transaction. Mr. Gill continues to be subject to Section 16 reporting in his capacity as a Director of the Issuer.