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*
P&P Fund I Management, LLC

(Last) (First) (Middle)
950 TOWER LANE
#1150

(Street)
FOSTER CITY CA 94404

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
WJ COMMUNICATIONS INC [ WJCI ]
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)
05/22/2008
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
X 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 05/22/2008 S 25,492,044(1) D $1 0 I SEE FN(2)(3)
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
1. Name and Address of Reporting Person*
P&P Fund I Management, LLC

(Last) (First) (Middle)
950 TOWER LANE
#1150

(Street)
FOSTER CITY CA 94404

(City) (State) (Zip)
1. Name and Address of Reporting Person*
FOX PAINE CAPITAL LLC

(Last) (First) (Middle)
950 TOWER LANE
#1150

(Street)
FOSTER CITY CA 94404

(City) (State) (Zip)
1. Name and Address of Reporting Person*
FOX PAINE CAPITAL FUND LP

(Last) (First) (Middle)
950 TOWER LANE
#1150

(Street)
FOSTER CITY CA 94404

(City) (State) (Zip)
1. Name and Address of Reporting Person*
FPC INVESTORS LP

(Last) (First) (Middle)
950 TOWER LANE
#1150

(Street)
FOSTER CITY CA 94404

(City) (State) (Zip)
1. Name and Address of Reporting Person*
WJ COINVESTMENT FUND I LLC

(Last) (First) (Middle)
950 TOWER LANE
#1150

(Street)
FOSTER CITY CA 94404

(City) (State) (Zip)
1. Name and Address of Reporting Person*
WJ COINVESTMENT FUND III LLC

(Last) (First) (Middle)
950 TOWER LANE
#1150

(Street)
FOSTER CITY CA 94404

(City) (State) (Zip)
1. Name and Address of Reporting Person*
WJ COINVESTMENT FUND IV LLC

(Last) (First) (Middle)
950 TOWER LANE
#1150

(Street)
FOSTER CITY CA 94404

(City) (State) (Zip)
Explanation of Responses:
1. The shares were disposed of in connection with the merger of ML Acquisition, Inc. with and into WJ Communications, Inc. ("WJ"), effective May 22, 2008 (the "Merger"), pursuant to the Agreement and Plan of Merger dated March 9, 2008 among TriQuint Semiconductor, Inc., ML Acquisition, Inc. and WJ whereby the shares were exchanged for the right to receive $1.00 per share in cash.
2. P&P Fund I Management, LLC is the manager of (i) Fox Paine Capital Fund, LP ("LP1"), a direct owner of 24,155,413 shares of Common Stock of WJ Communications, Inc (the "Issuer"), and (ii) FPC Investors, LP ("LP2") (collectively, LP1 and LP2 are "LPs"), a direct owner of 358,422 shares of Common Stock of the Issuer. Fox Paine Capital, LLC is the General Partner of each of the LPs and the manager of each of WJ Coinvestment Fund I, LLC, WJ Coinvestment Fund III, LLC and WJ Coinvestment Fund IV, LLC (collectively, the "Funds"), which directly own 601,478,251,155 and 125,576; respectively, of Common Stock (the "Shares") of the Issuer. As a result, each of the Reporting Persons may be deemed to be the indirect beneficial owners of 25,492,044 shares of Common Stock of the Issuer owned by the LPs and the Funds.
3. Each of the reporting persons disclaims beneficial ownership of the Shares except to the extent of its pecuniary interest therein.
P&P Fund I Management, LLC by Mitchell S. Presser 05/27/2008
Fox Paine Capital LLC by Mitchell S. Presser 05/27/2008
Fox Paine Capital Fund LP by Mitchell S. Presser 05/27/2008
FPC Investors LP by Mitchell S. Presser 05/27/2008
WJ Coinvestment Fund I LLC by Mitchell S. Presser 05/27/2008
WJ Coinvestment Fund III LLC by Mitchell S. Presser 05/27/2008
WJ Coinvestment Fund IV LLC by Mitchell S. Presser 05/27/2008
** 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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