SEC FORM 4

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^*

Schreyer Leslie J

(Last)

(First)

(Middle)

C/O GLG PARTNERS, INC.

399 PARK AVENUE, 38TH FLOOR

(Street)

NEW YORK

10022

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
GLG Partners, Inc. [ GLG ]

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)
11/02/2008

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	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. 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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock⁽¹⁾	02/04/2008		A		75,250	A	$0⁽¹⁾	489,129⁽¹⁾⁽²⁾⁽³⁾	D
Common Stock	11/02/2008		J⁽⁴⁾		61,632	D	$3.2	101,412	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. 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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. The shares of restricted stock were awarded to Mr. Schreyer in his individual capacity by GLG Partners, Inc. ("GLG") on February 4, 2008 (the "February 2008 Award") under GLG's 2007 Long-Term Incentive Plan (the "LTIP") and vest in four equal installments on each of November 2, 2008, 2009, 2010 and 2011. On November 2, 2008, the first installment of 18,813 shares vested (see Footnote 4 below).

2. Includes shares of restricted stock of GLG awarded to Mr. Schreyer in his individual capacity by GLG on November 2, 2007 under GLG's 2007 Restricted Stock Plan (the "Restricted Stock Plan") and the LTIP in the amounts of 500,000 and 76,923 shares, respectively (the "November 2007 Awards"). Pursuant to the terms of the November 2007 Awards, the shares of restricted stock vest in four equal installments on each of November 2, 2008, 2009, 2010 and 2011. On November 2, 2008, the first installment of 144,231 shares vested (see Footnote 4 below).

3. Excludes an aggregate of 144,231 shares of restricted stock that vested pursuant to the terms of the November 2007 Awards and 18,813 shares of restricted stock that vested pursuant to the terms of the February 2008 Award on November 2, 2008.

4. Of the 163,044 aggregate shares that vested on November 2, 2008, an aggregate of 61,632 shares were withheld and transferred to GLG to cover Mr. Schreyer's individual tax withholding obligations with respect to the vested shares.

	Leslie J. Schreyer, by: /s/ Alejandro San Miguel, as attorney-in-fact	02/17/2009
	** 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).
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