SEC Form 4 · accession 0001415889-15-000477
IMAGEWARE SYSTEMS INC · IWSY
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Neal I Goldman
Director · 10% Owner
Period of report
Feb 6, 2015
Accepted (ET)
Feb 10, 2015 · 6:31 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000941685
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Series E Convertible Preferred StockF1,F2 | $1.90 | Feb 6, 2015 | P | 300 | A | Feb 6, 2015 | — | Common Stock | 157,894 | 300 | D |
| Series E Preferred Convertible StockF3,F1,F2 | $1.90 | Feb 6, 2015 | A | 1,978 | A | Feb 6, 2015 | — | Common Stock | 1,041,052 | 2,278 | D |
Explanation of responses
- F1The Series E Convertible Preferred Stock remains convertible so long as the shares remain issued and outstanding.
- F2Each share of Series E Convertible Preferred Stock has a liquidation preference of $1,000 per share ("Liquidation Preference"), and is convertible, at the option of the holder, into that number of shares of the Issuer's common stock equal to the Liquidation Preference, divided by $1.90.
- F3The Reporting Person cancelled approximately $1.978 million of the outstanding balance under the $5.0 million convertible line of credit, as amended, first entered into by the Reporting Person and the Issuer on March 27, 2013 (the "Line of Credit"), in exchange for 1,978 shares of the Issuer's Series E Convertible Preferred Stock in an issuer exchange offer.