SEC Form 4
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*
Emancipation Management LLC

(Last) (First) (Middle)
825 THIRD AVENUE
33RD FLOOR

(Street)
NEW YORK NY 10022

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
SABA SOFTWARE INC [ SABA ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
06/04/2014
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
X Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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, $0.001 par value ("Common Stock") 06/04/2014 P 18,000 A $10 3,156,770 I See footnotes (1) (2)
Common Stock 06/05/2014 P 9,600 A $10.16 3,166,370 I See footnotes (1) (2)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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
1. Name and Address of Reporting Person*
Emancipation Management LLC

(Last) (First) (Middle)
825 THIRD AVENUE
33RD FLOOR

(Street)
NEW YORK NY 10022

(City) (State) (Zip)
1. Name and Address of Reporting Person*
Emancipation Capital

(Last) (First) (Middle)
825 THIRD AVENUE
33RD FLOOR

(Street)
NEW YORK NY 10022

(City) (State) (Zip)
1. Name and Address of Reporting Person*
Emancipation Capital SPV III LLC

(Last) (First) (Middle)
825 THIRD AVENUE
33RD FLOOR

(Street)
NEW YORK NY 10022

(City) (State) (Zip)
1. Name and Address of Reporting Person*
Emancipation Capital, LLC

(Last) (First) (Middle)
825 THIRD AVENUE
33RD FLOOR

(Street)
NEW YORK NY 10022

(City) (State) (Zip)
1. Name and Address of Reporting Person*
Frumberg Charles

(Last) (First) (Middle)
825 THIRD AVENUE
33RD FLOOR

(Street)
NEW YORK NY 10022

(City) (State) (Zip)
Explanation of Responses:
1. The securities reported herein are held by (i) Emancipation Capital Master, Ltd., a Cayman Islands exempted company ("Emancipation Master Ltd.") and (ii) Emancipation Capital SPV III LLC, a Delaware limited liability company ("Emancipation Capital SPV").
2. Mr. Charles Frumberg ("Mr. Frumberg") serves as the managing member of Emancipation Management LLC, a New York limited liability company ("Emancipation Management"), and Emancipation Capital LLC, a Delaware limited liability company ("Emancipation Capital LLC "). Emancipation Management serves as the investment manager of Emancipation Master Ltd. and Emancipation Capital SPV. Emancipation Capital LLC serves as the managing member of Emancipation Capital SPV. Each Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein.
EMANCIPATION MANAGEMENT LLC, By: /s/ Charles Frumberg, Managing Member 06/06/2014
EMANCIPATION CAPITAL LLC, By: /s/ Charles Frumberg, Managing Member 06/06/2014
EMANCIPATION CAPITAL MASTER, LTD., By: /s/ Charles Frumberg, Director 06/06/2014
EMANCIPATION CAPITAL SPV III LLC, By: Emancipation Capital LLC, Managing Member, By: /s/ Charles Frumberg, Managing Member 06/06/2014
/s/ Charles Frumberg 06/06/2014
** Signature of Reporting Person Date
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