0001422224-12-000009.txt : 20120328
0001422224-12-000009.hdr.sgml : 20120328
20120328101407
ACCESSION NUMBER: 0001422224-12-000009
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20120223
FILED AS OF DATE: 20120328
DATE AS OF CHANGE: 20120328
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: ROSS STANTON E
CENTRAL INDEX KEY: 0001008241
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-33899
FILM NUMBER: 12719083
MAIL ADDRESS:
STREET 1: 211 WEST 14TH STREET
CITY: CHANUTE
STATE: KS
ZIP: 66720
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: DIGITAL ALLY INC
CENTRAL INDEX KEY: 0001342958
STANDARD INDUSTRIAL CLASSIFICATION: RADIO & TV BROADCASTING & COMMUNICATIONS EQUIPMENT [3663]
IRS NUMBER: 200064269
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 7311 W 130TH ST
STREET 2: STE 170
CITY: OVERLAND PARK
STATE: KS
ZIP: 66213
BUSINESS PHONE: 913-232-5349
MAIL ADDRESS:
STREET 1: 7311 W 130TH ST
STREET 2: STE 170
CITY: OVERLAND PARK
STATE: KS
ZIP: 66213
4
1
primary_doc.xml
PRIMARY DOCUMENT
X0305
4
2012-02-23
0
0001342958
DIGITAL ALLY INC
DGLY
0001008241
ROSS STANTON E
8000 WEST 110TH STREET
SUITE 200
OVERLAND PARK
KS
66210
1
1
0
0
CEO & President
Common stock
2012-02-23
4
S
0
91600
0
D
638346
D
Common stock
2012-02-23
4
S
0
555000
0
D
83346
D
Common stock
2012-02-23
4
S
0
2185
0
D
81161
D
Employee Stock Option (right to buy)
2.15
2012-02-23
4
J
0
303488
0
D
2006-09-25
2011-09-25
Common stock
303488
1168823
D
Mr. Ross did not initiate the sales reported. He had pledged 91,600 shares of his common stock for a margin account at a stock brokerage firm. The firm and/or its accounts were subsequently taken over by a third party. At some point, Mr. Ross learned that such third party had liquidated these shares to satisfy, in whole or in part, the margin debt. Mr. Ross is unable to confirm dates, prices or amount of any sale transactions by such third party and has used the date noted as the transaction date for purposes of this Report.
Mr. Ross did not initiate the sales reported. He had pledged approximately 555,000 shares of his common stock as collateral for a personal loan. In 2011 the bank notified Mr. Ross that it intended to sell all or part of the pledged shares to help satisfy his obligation to it and sold shares, which Mr. Ross previously reported on Form 4's according to the information that the bank supplied to him. Mr. Ross contested the bank's actions in court. Effective February 23, 2012, he and the bank reached a settlement under which the bank retained the balance of the unsold pledged shares it then held in partial satisfaction of the debt. No specific value has been assigned to the shares in the settlement agreement.
The Digital Ally, Inc. 401K Plan & Trust holds shares for the benefit of Mr. Ross. The number of shares held for the benefit of Mr. Ross was adjusted by 2,185 shares to 11,957 as of December 31, 2011. This adjustment was the result of a reallocation of shares within the Plan pursuant to applicable rules and regulations.
A total of 303,488 options previously granted to Mr. Ross under the 2006 Digital Ally, Inc. Stock Option and Restricted Stock Plan expired unexercised on September 25,2011.
Stanton E. Ross
2012-03-28