SEC Form 4 · accession 0000921895-16-004282
FALCONSTOR SOFTWARE INC · FALC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Martin M Hale Jr.
Director · 10% Owner · Other
Period of report
Apr 27, 2016
Accepted (ET)
Apr 28, 2016 · 5:53 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000922521
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F4 | Apr 27, 2016 | A | 10,000 | $0.00 | A | 30,000 | D | |
| Common StockF2,F3 | holding | — | — | — | 929,582 | I | See footnotes |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Represents shares of Restricted Stock granted under the FalconStor Software 2016 Outside Directors Equity Compensation Plan. The restrictions will lapse as to 33% of the shares on the date of each of the Company's next two annual meetings of stockholders. The restrictions will lapse as to the remaining 34% of the shares on the date of the Company's 2019 annual meeting of stockholders.
- F2The shares of Common Stock reported herein are held by Hale Capital Partners, LP, a Delaware limited partnership ("HCP"), and HCP-FVA, LLC, a Delaware limited liability company ("HCP-FVA").
- F3Martin Hale, Jr. ("MH") is the Chief Executive Officer of HCP. MH is also (i) the sole owner and managing member of Hale Fund Partners, LLC, a Delaware limited liability company ("HFP"), the general partner of HCP and (ii) the sole owner and Chief Executive Officer of Hale Fund Management, LLC, a Delaware limited liability company ("HFM"). HFM is (i) the general partner of Hale Capital Management, LP ("HCM"), the manager of HCP and (ii) the manager of HCP-FVA. Each of MH, HFP, HFM and HCM disclaims beneficial ownership of the securities reported herein, except to the extent of his or its pecuniary interest.
- F4MH holds these shares for the benefit of HCP via HCP-FVA.
Remarks
MH serves as a director on the board of directors of the Issuer as a representative of HCP-FVA. Accordingly, HCP, HFP, HFM, HCM and HCP-FVA may be deemed directors by deputization by virtue of the fact that MH currently serves on the board of directors of the Issuer.