SEC Form 4 · accession 0001185185-15-000845
ASURE SOFTWARE INC · ASUR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
David Sandberg
Director · 10% Owner
Period of report
Mar 31, 2015
Accepted (ET)
Apr 6, 2015 · 6:37 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 |
|---|---|---|---|---|---|---|---|---|
| Asure Software, Inc. Common Stock ($0.01 par value)F1,F2 | holding | — | — | — | 752,970 | I | By The Red Oak Long Fund, LP | |
| Asure Software, Inc. Common Stock ($0.01 par value) | holding | — | — | — | 20,415 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Options (Right to Buy)F3 | $5.76 | Mar 31, 2015 | A | 5,000 | A | — | Mar 31, 2020 | Common Stock ($0.01 par value) | 5,000 | 5,000 | D |
Explanation of responses
- F1David Sandberg, as the managing member of Red Oak Partners, LLC, may be deemed to beneficially own the 752,970 shares of Common Stock beneficially owned by Red Oak Partners through The Red Oak Long Fund, LP, a Delaware limited partnership (the "Long Fund"), the direct owner of the subject securities. David Sandberg is also the Long Fund's portfolio manager.
- F2Each Reporting Person disclaims beneficial ownership of all securities reported herein, except to the extent of their pecuniary interest therein, if any, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of the shares for purposes of Section 16 of the Securities and Exchange Act of 1934 or for any other purpose.
- F3Such options shall vest over a 3 year period following issuance such that 1/3 of the shares shall vest on 3/31/2016 and an additional 8.33% shall vest each three (3) months thereafter.