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^*

DeVoglaer James H

(Last)

(First)

(Middle)

701 BRAZOS

SUITE 1200

(Street)

AUSTIN

78701

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
NetSpend Holdings, Inc. [ NTSP ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	EVP Information Technology

3. Date of Earliest Transaction (Month/Day/Year)
11/07/2012

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)
Restriced Stock (13,559)								13,559⁽¹⁾	D
Restricted Stock (41,667)								41,667⁽²⁾	D
Common Stock	11/07/2012		M		33,000	A	$3.53	33,000	D
Common Stock (33,000)	11/07/2012		S		33,000	D	$11.27⁽³⁾	0	D
Common Stock	11/08/2012		M		17,000	A	$3.53	17,000	D
Common Stock (17,000)	11/08/2012		S		17,000	D	$11.18⁽³⁾	0	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)
Employee Stock Option (right to buy) (160,017)	⁽⁴⁾⁽⁵⁾	11/07/2012		M			33,000	⁽⁴⁾⁽⁵⁾	⁽⁴⁾⁽⁵⁾	Common Stock	33,000⁽⁴⁾⁽⁵⁾	$0	127,017⁽⁴⁾⁽⁵⁾	D
Employee Stock Option (right to buy) (127,017)	⁽⁴⁾⁽⁵⁾	11/08/2012		M		17,000		⁽⁴⁾⁽⁵⁾	⁽⁴⁾⁽⁵⁾	Common Stock	17,000	$0	110,017	D
Employee Stock Option (right to buy) (50,000)	⁽⁶⁾							⁽⁶⁾	⁽⁶⁾	Common Stock	50,000⁽⁶⁾		50,000⁽⁶⁾	D

Explanation of Responses:

1. Shares of restricted stock were granted on February 9, 2012 (13,559 shares). The shares shown may not be sold or otherwise transferred until they vest. The shares will vest 25% per year on the four subsequent anniversaries of their grant date if the holder remains in the employ of the Company through the applicable vesting date. The vesting of the shares is subject to acceleration in the event of the death or disability of the holder and any change in control of the Company.

2. Shares of restricted stock were granted on October 29, 2012 (41,667). The shares shown may not be sold or otherwise transferred until they vest. The vesting of the shares is conditioned upon the Company's 2015 adjusted net income equalling or exceeding certain specified targets and the holder remaining in the employ of the Company through the applicable vesting date. The vesting of the shares is subject to acceleration in the event of any change in control of the Company.

3. Represents the average price received for the shares sold.

4. Options were granted on March 11, 2008 (75,000 shares at $3.53 per share; 12,155 exercised on December 13, 2011 (9,117) and May 17, 2012 (3,038); 33,000 exercised on 11/7/2012;17,000 exercised on 11/8/2012; (fully vested), February 5, 2009 (25,000 shares at $3.47 per share; 18,750 exercised on December 13, 2011 (2,720), December 30, 2011 (9,780) and May 17, 2012 (6,250); vesting 25% on each of February 5, 2010, 2011, 2012, 2013), April 20, 2010 (33,500 shares at $3.78 per share; 16,750 exercised on December 13, 2011 (2,330), December 30, 2011 (6,045) and May 17, 2012 (8,375); vesting 25% on each of March 25, 2011, 2012, 2013, 2014), April 20, 2010 (16,500 shares at $3.78 per share; fully vested), February 16, 2011 (30,000 shares at $14.80 per share; vesting 25% on each of February 16, 2012, 2013, 2014, 2015) and February 9, 2012 (27,672 shares at $8.75 per share; vesting 25% on each of February 9, 2013, 2014, 2015, 2016).

5. The vesting of the options is conditioned upon the holder continuing to provide services through the applicable vesting date and is subject to acceleration in the event of a change in control of the Company. The options have a term of ten years from their date of grant.

6. Options were granted on March 11, 2008 (50,000 shares at $3.47 per share; time-based vesting condition satisfied). In addition to the time-based vesting requirements, the vesting of the options also requires that (i) a change in control meeting certain valuation hurdles occurs or (ii) an EBITDA hurdle be achieved ($93.5 million for 2012 and increasing 10% per year thereafter). If these performance goals are not met, the options will vest 100% on February 15, 2014. The vesting of the options is conditioned upon the holder continuing to provide services through the applicable vesting date and is subject to acceleration in the event of a change in control of the Company.

	/s/ George W. Gresham, by power of attorney	11/08/2012
	** 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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