5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Officer (give title below)
Other (specify below)
Chief Strategy Officer
3. Date of Earliest Transaction
4. If Amendment, Date of Original Filed
6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr.
2. Transaction Date
2A. Deemed Execution Date, if any
3. Transaction Code (Instr.
4. Securities Acquired (A) or Disposed Of (D) (Instr.
3, 4 and 5)
Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr.
3 and 4)
6. Ownership Form: Direct (D) or Indirect (I) (Instr.
7. Nature of Indirect Beneficial Ownership (Instr.
(A) or (D)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr.
2. Conversion or Exercise Price of Derivative Security
3. Transaction Date
3A. Deemed Execution Date, if any
4. Transaction Code (Instr.
Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr.
3, 4 and 5)
6. Date Exercisable and Expiration Date
7. Title and Amount of Securities Underlying Derivative Security (Instr.
3 and 4)
8. Price of Derivative Security (Instr.
Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr.
10. Ownership Form: Direct (D) or Indirect (I) (Instr.
11. Nature of Indirect Beneficial Ownership (Instr.
Amount or Number of Shares
Explanation of Responses:
(1) The sale of shares was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person.
(2) This transaction was executed in multiple sales through a sale order executed by a broker-dealer at prices ranging from $5.74 to $6.08. The price reported in this column reflects the weighted average sale price. The Reporting Person will provide upon request to the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
(3) This number does not include 700,000 shares of common stock underlying outstanding options and 20,000 shares of common stock underlying warrants held by Mr. David; post-transaction Mr. David continues to beneficially own or have a right to acquire 1,451,306 shares of common stock.
/s/ Eric David
** Signature of Reporting Person
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person,
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations
18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient,
Instruction 6 for procedure.
________ Transaction Code:
Open market or private sale of non-derivative or derivative security.