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*
SCHNEIDER JOHN D JR

(Last) (First) (Middle)
3161 WEST WHITE OAKS DRIVE
SUITE 300

(Street)
SPRINGFIELD IL 62704

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
GOLDLEAF FINANCIAL SOLUTIONS INC. [ GFSI ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
04/05/2007
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 04/05/2007 A 1,225 A (1) 1,703 D
Common Stock 05/17/2007 P 297 A $6.26 2,000 D
Common Stock 05/18/2007 P 1,000 A $6.24 3,000 D
Common Stock 05/18/2007 P 1,100 A $6.1773 4,100 D
Common Stock 05/18/2007 P 900 A $6.21 5,000 D
Common Stock 05/18/2007 P 1,000 A $6.15 6,000 D
Common Stock 05/18/2007 P 1,000 A $6.1 7,000 D
Common Stock 05/18/2007 P 2,000 A $6.2 5,000 I By 401(K)
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
Explanation of Responses:
1. On April 5, 2007, the reporting person became entitled to receive 1225 shares of GFSI Common Stock pursuant to an "earn-out" provision in the merger agreement between GFSI and Captiva Solutions, LLC dated October 20, 2005. The number of shares issuable pursuant to the earn-out right was determined according to a formula in the merger agreement which provided that, for determining the number of shares issuable, GFSI stock would be valued at $3.57.
Remarks:
/s/Michael Berman, Attorney-In-Fact for John D. Schneider, Jr. 05/21/2007
** 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.
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