SEC Form 4 · accession 0001185185-18-001584
ASURE SOFTWARE INC · ASUR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
David Sandberg
Director
Period of report
Aug 24, 2018
Accepted (ET)
Aug 28, 2018 · 6:20 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 | Aug 24, 2018 | A | 2,000 | $0.00 | A | 22,415 | D | |
| Asure Software, Inc. Common Stock ($0.01 par value)F5,F6 | holding | — | — | — | 190,000 | I | By The Red Oak Institutional Founders Long Fund, LP directly | |
| Asure Software, Inc. Common Stock ($0.01 par value)F2,F6 | holding | — | — | — | 333,890 | I | By The Red Oak Fund, LP directly | |
| Asure Software, Inc. Common Stock ($0.01 par value)F4,F6 | holding | — | — | — | 146,777 | I | By The Red Oak Long Fund, LP directly | |
| Asure Software, Inc. Common Stock ($0.01 par value)F3,F6 | holding | — | — | — | 272,303 | I | By Pinnacle Opportunities Fund, LP directly |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Common Stock Options (Right to Buy)F7 | $14.32 | Aug 24, 2018 | A | 10,000 | A | — | Aug 24, 2023 | Common Stock ($0.01 par value) | 10,000 | 10,000 | D |
Explanation of responses
- F1Represents grant of restricted stock units that vest in one installment on March 31, 2019.
- F2Red Oak Partners, LLC ("ROP") serves as the general partner of The Red Oak Fund, LP, a Delaware limited partnership (the "Fund"), the direct owner of the subject securities. David Sandberg is the managing member of ROP and the Fund's portfolio manager.
- F3ROP serves as investment advisor to Pinnacle Capital Partners, LLC, a Florida limited liability company ("Pinnacle Partners"). Pinnacle Partners is the general partner of Pinnacle Opportunities Fund, LP, a Delaware limited partnership ("Pinnacle Fund"), the direct owner of the subject securities.
- F4ROP serves as the general partner of The Red Oak Long Fund, LP, a Delaware limited partnership (the "Long Fund"), the direct owner of the subject securities. David Sandberg is the managing member of ROP and the Long Fund's portfolio manager.
- F5ROP serves as the general partner of The Red Oak Institutional Founders Long Fund, LP, a Delaware limited partnership (the "Founders Fund"), the direct owner of the subject securities. David Sandberg is the managing member of ROP and the Founders Fund's portfolio manager.
- F6David Sandberg disclaims beneficial ownership of the shares held directly by the Fund, Pinnacle Fund, Long Fund and Founders Fund, 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.
- F7Such options shall vest in one installment on March 31, 2019.