FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP 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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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). |
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
ASTA FUNDING INC [ ASFI ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 02/23/2017 | ||||||||||||||||||||||||||
4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
Code | V | Amount | (A) or (D) | Price | ||||||
Common Stock, par value $.01 per share | 02/23/2017 | P | 471,086(1) | A | $10.35 | 714,364 | I | As Trustee and Beneficiary of Ricky Stern Family 2012 Trust | ||
Common Stock, par value $.01 per share | 503,590 | I | As co-Trustee and Beneficiary of the Ricky Stern 2012 GST Trust | |||||||
Common Stock, par value $.01 per share | 2,590 | I | As co-Trustee of the Emily Stern 2012 GST Trust(2) | |||||||
Common Stock, par value $.01 per share | 243,278 | I | As Trustee for Emily Stern Family 2012 Trust(2) | |||||||
Common Stock, par value $.01 per share | 862,000 | I | see footnote(3) | |||||||
Common Stock, par value $.01 per share | 30,220 | I | Representing proportionate interest in shares held by Asta Group, Incorporated | |||||||
Common Stock, par value $.01 per share | 268,142 | D |
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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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 Securities Underlying Derivative Security (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: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
Explanation of Responses: |
1. The shares are to be acquired pursuant to a Securities Purchase Agreement dated as of January 6, 2017, by and among The Mangrove Partners Master Fund, Ltd., The Mangrove Partners Fund, L.P., Mangrove Partners Fund (Cayman), Ltd., Mangrove Partners, Mangrove Capital and Nathaniel August (collectively, the "Sellers") and Gary Stern (the "Purchaser"). The Purchaser has assigned his right and obligation to purchase the shares under such Securities Purchase Agreement to the Ricky Stern Family 2012 Trust. Securities acquired by the Ricky Stern Family 2012 Trust may be deemed beneficially owned by the Reporting Person because of his positions as trustee and beneficiary of the Ricky Stern Family 2012 Trust. The closing of the purchase of the shares is expected to occur on March 10, 2017. |
2. The Reporting Person may be deemed to have beneficial ownership of the shares held in such trust because of his position as Trustee of such trust and as an immediate family member of the beneficiary of such trust. The Reporting Person disclaims any beneficial ownership of the shares held by such trust in excess of the Reporting Person's beneficial ownership therein for purposes of Section 16. |
3. Shares held by GMS Family Investors, LLC may be deemed beneficially owned by the Reporting Person because of his position as sole manager of GMS Family Investors, LLC. The Reporting Person disclaims beneficial ownership of the shares held by GMS Family Investors, LLC in excess of his pecuniary interest therein for purposes of Section 16. |
/s/ Ricky Stern | 02/27/2017 | |
** Signature of Reporting Person | Date | |
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, 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). | ||
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
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 Number. |