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*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
CTI INDUSTRIES CORP [ CTIB ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 06/12/2006 | ||||||||||||||||||||||||||
4. If Amendment, Date of Original Filed
(Month/Day/Year) 06/14/2006 |
6. Individual or Joint/Group Filing (Check Applicable Line)
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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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 | 06/12/2006 | J(1) | 0(2) | D | $3.1 | 271,725 | D | |||
Common Stock | 06/12/2006 | P | 26,216 | A | $3.1 | 454,782(3) | D |
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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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 | ||||||||
Warrants (Right to Purchase) | $1.5 | 06/12/2006 | M | 39,683 | 07/17/2001 | 07/17/2006 | Common Stock | 39,683 | $1.5 | 243,341(4) | D |
Explanation of Responses: |
1. To clarify what was reported in the previous Form 4A, the original Form 4 filed on 6/14/2006 erroneously stated that the Reporting Person sold 19,202 shares of Common Stock at $3.10 per share. This transaction never, in fact, occurred. |
2. To clarify what was reported in the previous Form 4A, the original Form 4 filed on 6/14/2006 erroneously stated that the Reporting Person sold 19,202 shares of Common Stock at $3.10 per share. This transaction never, in fact, occurred. |
3. After an internal audit of the Company's Form 4s dating back to 1998, it was determined that due to clerical errors the number of securities beneficially owned was not properly cumulated. The transactions were properly reported, but the amount of securities beneficially owned following reported transaction was not correctly calculated. As of June 28, 2006, the correct number of non-derivative securities beneficially owned by Stephen M. Merrick is 454,782. |
4. After an internal audit of the Company's Form 4s dating back to 1998, it was determined that due to clerical errors the number of securities beneficially owned was not properly cumulated. The transactions were properly reported, but the amount of securities beneficially owned following reported transaction was not correctly calculated. As of June 28, 2006, the correct number of derivative securities beneficially owned by Stephen M. Merrick is 243,341. |
Remarks: |
Stephen M. Merrick | 06/28/2006 | |
** 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). | ||
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. |