SEC Info℠  
    Home      Search      My Interests      Help      Sign In      Please Sign In

Spectrum Galaxy Fund Ltd., et al. – ‘4’ for 8/10/06 re: Gse Systems Inc.

On:  Monday, 8/14/06, at 5:58pm ET   ·   For:  8/10/06   ·   As:  10% Owner   ·   Accession #:  1209191-6-45831   ·   File #:  1-14785

Previous ‘4’:  ‘4’ on 8/1/06 for 7/31/06   ·   Next:  ‘4’ on 10/4/06 for 10/3/06   ·   Latest:  ‘4’ on 3/13/09 for 3/12/09

Find Words in Filings emoji
 		  in    Show  and   ↓Hints

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 8/14/06  Spectrum Galaxy Fund Ltd.         4          10% Owner   1:12K  Gse Systems Inc.                  DONNELLEY FIN… File16/FA
          Berry David W
          Kaizen Capital, L.L.C.
          Kaizen Management, L.P.
          Select Contrarian Value Partners LP

Statement of Changes in Beneficial Ownership of Securities by an Insider   —   Form 4   —   SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 4           Statement of Changes in Beneficial Ownership of     HTML     11K 
                Securities by an Insider --                                      
                bod38886_bod1gse.xml/2.2


        

This ‘4’ Document is an XML Data File that may be rendered in various formats:

  Form 4    –   Plain Text   –  SEC Website  –  EDGAR System  –    XML Data    –  <?xml?> File
 
 
XML Data rendering:  Statement of Changes in Beneficial Ownership of Securities by an Insider
 
                                                                                                                                                                                
<?xml version="1.0" encoding="windows-1252"?>
<ownershipDocument>
<schemaVersion> X0202 </schemaVersion>
<documentType> 4 </documentType>
<periodOfReport> 2006-08-10 </periodOfReport>
<issuer>
<issuerCik> 0000944480 </issuerCik>
<issuerName> GSE SYSTEMS INC </issuerName>
<issuerTradingSymbol> GVP </issuerTradingSymbol>
</issuer>
<reportingOwner>
<reportingOwnerId>
<rptOwnerCik> 0001348301 </rptOwnerCik>
<rptOwnerName> SELECT CONTRARIAN VALUE PARTNERS L P </rptOwnerName>
</reportingOwnerId>
<reportingOwnerAddress>
<rptOwnerStreet1> 4200 MONTROSE BLVD. </rptOwnerStreet1>
<rptOwnerStreet2> SUITE 510 </rptOwnerStreet2>
<rptOwnerCity> HOUSTON </rptOwnerCity>
<rptOwnerState> TX </rptOwnerState>
<rptOwnerZipCode> 77006 </rptOwnerZipCode>
<rptOwnerStateDescription></rptOwnerStateDescription>
</reportingOwnerAddress>
<reportingOwnerRelationship>
<isDirector> 0 </isDirector>
<isOfficer> 0 </isOfficer>
<isTenPercentOwner> 1 </isTenPercentOwner>
<isOther> 0 </isOther>
</reportingOwnerRelationship>
</reportingOwner>
<reportingOwner>
<reportingOwnerId>
<rptOwnerCik> 0001356770 </rptOwnerCik>
<rptOwnerName> KAIZEN MANAGEMENT, L.P. </rptOwnerName>
</reportingOwnerId>
<reportingOwnerAddress>
<rptOwnerStreet1> 4200 MONTROSE BLVD. </rptOwnerStreet1>
<rptOwnerStreet2> SUITE 510 </rptOwnerStreet2>
<rptOwnerCity> HOUSTON </rptOwnerCity>
<rptOwnerState> TX </rptOwnerState>
<rptOwnerZipCode> 77006 </rptOwnerZipCode>
<rptOwnerStateDescription></rptOwnerStateDescription>
</reportingOwnerAddress>
<reportingOwnerRelationship>
<isDirector> 0 </isDirector>
<isOfficer> 0 </isOfficer>
<isTenPercentOwner> 1 </isTenPercentOwner>
<isOther> 0 </isOther>
</reportingOwnerRelationship>
</reportingOwner>
<reportingOwner>
<reportingOwnerId>
<rptOwnerCik> 0001356769 </rptOwnerCik>
<rptOwnerName> Kaizen Capital, L.L.C. </rptOwnerName>
</reportingOwnerId>
<reportingOwnerAddress>
<rptOwnerStreet1> 4200 MONTROSE BLVD. </rptOwnerStreet1>
<rptOwnerStreet2> SUITE 510 </rptOwnerStreet2>
<rptOwnerCity> HOUSTON </rptOwnerCity>
<rptOwnerState> TX </rptOwnerState>
<rptOwnerZipCode> 77006 </rptOwnerZipCode>
<rptOwnerStateDescription></rptOwnerStateDescription>
</reportingOwnerAddress>
<reportingOwnerRelationship>
<isDirector> 0 </isDirector>
<isOfficer> 0 </isOfficer>
<isTenPercentOwner> 1 </isTenPercentOwner>
<isOther> 0 </isOther>
</reportingOwnerRelationship>
</reportingOwner>
<reportingOwner>
<reportingOwnerId>
<rptOwnerCik> 0001356921 </rptOwnerCik>
<rptOwnerName> BERRY DAVID W </rptOwnerName>
</reportingOwnerId>
<reportingOwnerAddress>
<rptOwnerStreet1> 4200 MONTROSE BLVD. </rptOwnerStreet1>
<rptOwnerStreet2> SUITE 510 </rptOwnerStreet2>
<rptOwnerCity> HOUSTON </rptOwnerCity>
<rptOwnerState> TX </rptOwnerState>
<rptOwnerZipCode> 77006 </rptOwnerZipCode>
<rptOwnerStateDescription></rptOwnerStateDescription>
</reportingOwnerAddress>
<reportingOwnerRelationship>
<isDirector> 0 </isDirector>
<isOfficer> 0 </isOfficer>
<isTenPercentOwner> 1 </isTenPercentOwner>
<isOther> 0 </isOther>
</reportingOwnerRelationship>
</reportingOwner>
<reportingOwner>
<reportingOwnerId>
<rptOwnerCik> 0001313253 </rptOwnerCik>
<rptOwnerName> Spectrum Galaxy Fund Ltd. </rptOwnerName>
</reportingOwnerId>
<reportingOwnerAddress>
<rptOwnerStreet1> 4200 MONTROSE BLVD. </rptOwnerStreet1>
<rptOwnerStreet2> SUITE 510 </rptOwnerStreet2>
<rptOwnerCity> HOUSTON </rptOwnerCity>
<rptOwnerState> TX </rptOwnerState>
<rptOwnerZipCode> 77006 </rptOwnerZipCode>
<rptOwnerStateDescription></rptOwnerStateDescription>
</reportingOwnerAddress>
<reportingOwnerRelationship>
<isDirector> 0 </isDirector>
<isOfficer> 0 </isOfficer>
<isTenPercentOwner> 1 </isTenPercentOwner>
<isOther> 0 </isOther>
</reportingOwnerRelationship>
</reportingOwner>
<nonDerivativeTable>
<nonDerivativeTransaction>
<securityTitle>
<value> Common Stock </value>
</securityTitle>
<transactionDate>
<value> 2006-08-10 </value>
</transactionDate>
<transactionCoding>
<transactionFormType> 4 </transactionFormType>
<transactionCode> P </transactionCode>
<equitySwapInvolved> 0 </equitySwapInvolved>
</transactionCoding>
<transactionAmounts>
<transactionShares>
<value> 15400 </value>
<footnoteId id="F1"/>
</transactionShares>
<transactionPricePerShare>
<value> 3.8987 </value>
</transactionPricePerShare>
<transactionAcquiredDisposedCode>
<value> A </value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<postTransactionAmounts>
<sharesOwnedFollowingTransaction>
<value> 45400 </value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature>
<directOrIndirectOwnership>
<value> I </value>
</directOrIndirectOwnership>
<natureOfOwnership>
<value> See Footnote 2. </value>
<footnoteId id="F2"/>
</natureOfOwnership>
</ownershipNature>
</nonDerivativeTransaction>
<nonDerivativeTransaction>
<securityTitle>
<value> Common Stock </value>
</securityTitle>
<transactionDate>
<value> 2006-08-11 </value>
</transactionDate>
<transactionCoding>
<transactionFormType> 4 </transactionFormType>
<transactionCode> P </transactionCode>
<equitySwapInvolved> 0 </equitySwapInvolved>
</transactionCoding>
<transactionAmounts>
<transactionShares>
<value> 7600 </value>
<footnoteId id="F1"/>
</transactionShares>
<transactionPricePerShare>
<value> 3.9184 </value>
</transactionPricePerShare>
<transactionAcquiredDisposedCode>
<value> A </value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<postTransactionAmounts>
<sharesOwnedFollowingTransaction>
<value> 53000 </value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature>
<directOrIndirectOwnership>
<value> I </value>
</directOrIndirectOwnership>
<natureOfOwnership>
<value> See Footnote 2. </value>
<footnoteId id="F2"/>
</natureOfOwnership>
</ownershipNature>
</nonDerivativeTransaction>
</nonDerivativeTable>
<derivativeTable></derivativeTable>
<footnotes>
<footnote id="F1"> This Form 4 is being filed by Select Contrarian Value Partners, L.P. ("Select"), Kaizen Management, L.P., as general partner of Select ("Management"), Kaizen Capital, L.L.C., as general partner of Management ("Capital"), David W. Berry, as the manager and member of Capital ("Berry"), and Spectrum Galaxy Fund Ltd. ("Spectrum"). </footnote>
<footnote id="F2"> The transactions reported in this Form 4 were effected solely by Spectrum. By contract, Management serves as the sole investment manager to Kaizen Fundamental Value Fund, a separate class of shares of Spectrum, which is a company incorporated under the laws of the British Virgin Islands. In accordance with Instruction 4(b)(iv) of Form 4, all shares of common stock of GSE Systems, Inc. ("GSE") acquired by Spectrum are reported herein. Select, Management, Capital and Berry hereby disclaim, for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, beneficial ownership of such shares, except to the extent of their respective pecuniary interest therein, if any. This report on Form 4 shall not be deemed to be an admission that any of Select, Management, Capital or Berry is the beneficial owner of such shares for purposes of Section 16 or for any other purpose. Spectrum hereby disclaims beneficial ownership of all securities of GSE held by Select. </footnote>
</footnotes>
<ownerSignature>
<signatureName> Select Contrarian Value Partners, L.P., by Kaizen Management, L.P., its General Partner, by Kaizen Capital, L.L.C., its General Partner, by /s/ David W. Berry, Manager </signatureName>
<signatureDate> 2006-08-14 </signatureDate>
</ownerSignature>
<ownerSignature>
<signatureName> Kaizen Management, L.P., by Kaizen Capital, L.L.C., its General Partner, by /s/ David W. Berry, Manager </signatureName>
<signatureDate> 2006-08-14 </signatureDate>
</ownerSignature>
<ownerSignature>
<signatureName> Kaizen Capital, L.L.C., by /s/ David W. Berry, Manager </signatureName>
<signatureDate> 2006-08-14 </signatureDate>
</ownerSignature>
<ownerSignature>
<signatureName> /s/ David W. Berry </signatureName>
<signatureDate> 2006-08-14 </signatureDate>
</ownerSignature>
<ownerSignature>
<signatureName> Spectrum Galaxy Fund Ltd., by /s/ Dion R. Friedland </signatureName>
<signatureDate> 2006-08-14 </signatureDate>
</ownerSignature>
</ownershipDocument>


↑Top
Filing Submission 0001209191-06-045831   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)
Copyright © 2024 Fran Finnegan & Company LLC – All Rights Reserved.
About — Privacy — Redactions — Help — Sat., Apr. 20, 6:47:50.1am ET