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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 Cumulative Preferred Stock | $ 40 | 10/06/2021 | S | 47 | (1) | (1) | Common Stock, $0.01 par value | 29 | $ 10.0011 (2) | 41,293 (3) | I | See Footnotes (3) (6) | |||
Series B Cumulative Preferred Stock | $ 40 | 10/06/2021 | S | 152 | (1) | (1) | Common Stock, $0.01 par value | 95 | $ 10.0011 (2) | 185,230 (4) | I | See Footnotes (4) (6) | |||
Series B Cumulative Preferred Stock | $ 40 | 10/06/2021 | S | 2 | (1) | (1) | Common Stock, $0.01 par value | 1 | $ 10.0011 (2) | 2,568 (5) | I | See Footnotes (5) (6) |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Steamboat Capital Partners, LLC 31 OLD WAGON ROAD OLD GREENWICH, CT 06870 |
X | |||
Kiai Parsa 31 OLD WAGON ROAD OLD GREENWICH, CT 06870 |
X |
/s/ Parsa Kiai, Managing Member, STEAMBOAT CAPITAL PARTNERS, LLC | 10/08/2021 | |
**Signature of Reporting Person | Date | |
/s/ Parsa Kiai | 10/08/2021 | |
**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) | Convertible at any time with no expiration date, but subject to mandatory conversion if the 20 -trading day volume-weighted average closing price of the Common Stock, $0.01 par value, exceeds $58. |
(2) | This is the average price. The prices at which shares were actually sold range from $10.00 to $10.22. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected. |
(3) | The transaction was effected for certain accounts managed by Steamboat Capital Partners, LLC ("IA") which, after such transaction, own 41,293 shares of Series B Cumulative Preferred Stock. |
(4) | The transaction was effected for Steamboat Capital Partners Master Fund, LP ("Master") which has delegated investment discretion to Steamboat Capital Partners, LLC ("IA") and which, after such transaction, owns 185,230 shares of Series B Cumulative Preferred Stock. |
(5) | The transaction was effected for Steamboat Capital Partners II, LP ("II"), which after such transaction, owns 2568 shares of Series B Cumulative Preferred Stock. |
(6) | Steamboat Capital Partners GP, LLC (GP) is general partner of, and entitled to receive a performance allocation from, each of Master and II. IA is entitled to receive a performance fee from the managed accounts referred to in footnote 3 (the "MA"). Parsa Kiai ("Kiai") is the Managing Member of GP and IA. Accordingly, Kiai may be deemed to have a pecuniary interest in the shares owned by Master and II and IA and Kiai may be deemed to have a pecuniary interest in the shares owned by the MA. Kiai and IA are filers of this report, filing jointly but not as a group and each disclaims beneficial ownership of securities reported hereon except to the extent of its or his pecuniary interest therein. |