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*
LAPENTA ROBERT V

(Last) (First) (Middle)
C/O L-1 IDENTITY SOLUTIONS, INC.
177 BROAD STREET, 12TH FLOOR

(Street)
STAMFORD CT 06901

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
L-1 IDENTITY SOLUTIONS, INC. [ ID ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director X 10% Owner
X Officer (give title below) Other (specify below)
Chairman, President & CEO
3. Date of Earliest Transaction (Month/Day/Year)
05/11/2009
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)
Code V Amount (A) or (D) Price
Common Stock 05/11/2009 C 1,145,337 A (1) 5,022,016 D
Common Stock 7,619,047 I By limited partnership of which Mr. LaPenta is a managing member of the general partner thereof.
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
Preferred Convertible Stock (3) 05/11/2009 C 15,107 08/05/2008(2) 06/30/2028 Common Stock 1,145,337 (3) 2,185(4) D
Explanation of Responses:
1. The shares were issued on May 11, 2009 to Robert V. LaPenta upon conversion by Mr. LaPenta of 15,107 shares of Series A Convertible Preferred Stock, par value $0.001, of the Company (the "Series A Preferred Stock") pursuant to the terms and conditions of the Certificate of Designations, Rights and Preferences of the Series A Preferred Stock and the Securities Purchase Agreement, dated as of June 29, 2008, by and between L-1 Identity Solutions, Inc. (the "Company") and Mr. LaPenta, (the "Agreement"). The conversion was approved by requisite Company stockholder approval on May 6, 2009.
2. The 15,107 shares of Series A Preferred Stock, previously issued on August 5, 2008, became convertible by Mr. LaPenta upon the requisite Company stockholder approval of such convertibility on May 6, 2009.
3. Mr. LaPenta received 1,145,337 shares of Common Stock in exchange for the 15,107 shares of Series A Preferred Stock. Actual conversion by Mr. LaPenta of shares of Series A Preferred Stock into shares of Common Stock occurred on May 11, 2009.
4. Pursuant to the terms and conditions of the Agreement, Mr. LaPenta is entitled to a contractual price protection right to receive up to 2,185 additional shares of Series A Preferred Stock, if the volume weighted average price of a share of Common Stock, as reported by Bloomberg Financial Markets for the 30 consecutive days ending on the last trading day prior to June 30, 2009 is less than $13.19.
Remarks:
Robert V. LaPenta 05/12/2009
** 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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