SEC Form 4 · accession 0001179110-16-031959
Creative Media & Community Trust Corp · CMCT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Charles E Garner II
Officer — Chief Executive Officer
Period of report
Nov 21, 2016
Accepted (ET)
Nov 22, 2016 · 4:36 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000908311
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Series A Preferred SharesF1 | Nov 21, 2016 | P$0 | 20,000 | — | A | 20,000 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WarrantsF1,F2 | $26.68 | Nov 21, 2016 | P | 20,000 | A | Nov 21, 2017 | Nov 21, 2021 | Common Stock | 5,000 | 20,000 | D |
Explanation of responses
- F1Reporting Person purchased 20,000 units ("Units") offered by CIM Commercial Trust Corporation ("CMCT"), with each Unit consisting of one share of Series A Preferred Stock of CMCT with an initial stated value of $25 per share (the "Preferred Stock") and (ii) one warrant to purchase 0.25 of a share of CMCT common stock (the "Warrant"). The Units were purchased at a price of $25 per Unit.
- F2This number excludes the Units consisting of Preferred Shares and Warrants described in Note 1 above. The exercise price of each Warrant is equal to a 15% premium to the fair market net asset value of CMCT per share of common stock as most recently published by CMCT at the time of issuance of the Warrants (the "Applicable NAV"). The Applicable NAV as disclosed in CMCT's Amendment No. 1 to Form S-11 filed on September 21, 2016 is $23.20 per share of CMCT common stock.