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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Series B Convertible Preferred Stock | $ 7 | (4) | (4) | Common Stock | 243,572 (5) | 1,705 | D (2) | ||||||||
Series C Convertible Preferred Stock | $ 5.50 | 02/26/2021 | P | 1,500 | (6) | (6) | Common Stock | 272,727 (7) | $ 1,000 | 1,500 | D (2) | ||||
Series C Convertible Preferred Stock | $ 5.50 | 02/26/2021 | P | 500 | (8) | (8) | Common Stock | 90,909 (9) | $ 1,000 | 500 | D (3) |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
PESSIN NORMAN H 400 E. 51ST STREET PH 31 NEW YORK, NY 10022 |
X | |||
Pessin Brian L. 310 E. 75TH STREET APARTMENT 2A NEW YORK, NY 10021 |
X | |||
PESSIN SANDRA F 400 E. 51ST STREET PH 31 NEW YORK, NY 10022 |
X |
/s/ Norman H. Pessin | 09/03/2021 | |
**Signature of Reporting Person | Date | |
/s/ Brian L. Pessin | 09/03/2021 | |
**Signature of Reporting Person | Date | |
/s/ Sandra F. Pessin | 09/03/2021 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | This Form 4 is filed jointly by Norman H. Pessin, Brian L. Pessin and Sandra F. Pessin (collectively, the "Reporting Persons"). Each Reporting Person may be deemed to be a member of a Section 13(d) group, that may be deemed to collectively beneficially own more than 10% of the Issuer's outstanding shares of common stock. Each Reporting Person disclaims beneficial ownership of the shares of common stock reported herein except to the extent of his or her pecuniary interest therein, and this report shall not be deemed to be an admission that any Reporting Person is the beneficial owner of such shares of common stock for purposes of Section 16 or for any other purpose. |
(2) | Shares beneficially owned by Sandra F. Pessin, Norman H. Pessin's spouse. Norman H. Pessin expressly disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein. |
(3) | Shares beneficially owned by Brian L. Pessin. Norman H. Pessin and Sandra F. Pessin expressly disclaim beneficial ownership of such shares. |
(4) | The Series B Convertible Preferred Stock ("Series B Preferred Stock") is not currently exercisable due to a 4.99% beneficial ownership limitation with respect to Common Stock owned by Sandra F. Pessin, affiliates of Sandra F. Pessin or members of a group with Sandra F. Pessin. Such 4.99% beneficial ownership limitation can be increased to 9.99%. The Series B Preferred Stock has no stated maturity date. |
(5) | Sandra F. Pessin owns 1,705 shares of Series B Preferred Stock convertible into 243,572 shares of Common Stock. |
(6) | The Series C Convertible Preferred Stock ("Series C Preferred Stock") is not currently exercisable due to a 4.99% beneficial ownership limitation with respect to Common Stock owned by Sandra F. Pessin, affiliates of Sandra F. Pessin or members of a group with Sandra F. Pessin. Such 4.99% beneficial ownership limitation can be increased to 19.99%. The Series C Preferred Stock has no stated maturity date. |
(7) | Sandra F. Pessin owns 1,500 shares of Series C Preferred Stock convertible into 272,727 shares of Common Stock. |
(8) | The Series C Preferred Stock is not currently exercisable due to a 4.99% beneficial ownership limitation with respect to the Common Stock owned by Brian L. Pessin, affiliates of Brian L. Pessin or members of a group with Brian L. Pessin. The Series C Preferred Stock has no stated maturity date. |
(9) | Brian L. Pessin owns 500 shares of Series C Preferred Stock convertible into 90,909 shares of Common Stock. |