X0305 4 2012-05-15 0 0001473597 STR HOLDINGS, INC. STRI 0001374588 RED MOUNTAIN CAPITAL PARTNERS LLC 10100 SANTA MONICA BOULEVARD SUITE 925 LOS ANGELES CA 90067 0 0 1 0 0001374602 RED MOUNTAIN CAPITAL PARTNERS II, L.P. 10100 SANTA MONICA BOULEVARD SUITE 925 LOS ANGELES CA 90067 0 0 1 0 0001374606 RMCP GP LLC 10100 SANTA MONICA BOULEVARD SUITE 925 LOS ANGELES CA 90067 0 0 1 0 0001374607 RED MOUNTAIN CAPITAL MANAGEMENT INC 10100 SANTA MONICA BOULEVARD SUITE 925 LOS ANGELES CA 90067 0 0 1 0 0001374566 MESDAG WILLEM 10100 SANTA MONICA BOULEVARD SUITE 925 LOS ANGELES CA 90067 0 0 1 0 Common Stock 2012-05-15 4 P 0 247802 4.48 A 4410011 I Through RMCP II Common Stock 2012-05-16 4 P 0 250000 4.35 A 4660011 I Through RMCP II Common Stock 2012-05-17 4 P 0 282000 4.27 A 4942011 I Through RMCP II This amount includes only trades occurring after the trade that RMCP LLC believes took RMCP II over the 10% beneficial ownership threshold. It does not include prior trades on the same date. This transaction was executed in multiple trades at prices ranging from $4.31 to $4.55 per share. The price reported reflects the weighted average sale price. RMCP LLC hereby undertakes to provide full information regarding the number of shares and prices at which these trades were effected upon request by the SEC staff, the issuer, or a securityholder of the issuer. This transaction was executed in multiple trades at prices ranging from $4.1675 to $4.45 per share. The price reported reflects the weighted average sale price. RMCP LLC hereby undertakes to provide full information regarding the number of shares and prices at which these trades were effected upon request by the SEC staff, the issuer, or a securityholder of the issuer. This transaction was executed in multiple trades at prices ranging from $4.14 to $4.30 per share. The price reported reflects the weighted average sale price. RMCP LLC hereby undertakes to provide full information regarding the number of shares and prices at which these trades were effected upon request by the SEC staff, the issuer, or a securityholder of the issuer. This Form 4 is jointly filed by (i) Red Mountain Capital Partners LLC ("RMCP LLC"), (ii) Red Mountain Capital Partners II, L.P. ("RMCP II"), (iii) RMCP GP LLC ("RMCP GP"), (iv) Red Mountain Capital Management, Inc. ("RMCM"), and (v) Willem Mesdag. RMCP GP is the general partner of RMCP II. RMCP LLC is the managing member of RMCP GP. RMCM is the managing member of RMCP LLC. Mr. Mesdag is the president, sole executive officer, sole director and sole shareholder of RMCM. Each of the reporting persons hereunder disclaims beneficial ownership of the reported securities except to the extent of its or his pecuniary interests therein. This Form 4 shall not be deemed to be an admission that any reporting person hereunder is the beneficial owner of any of the reported securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose. /s/ Willem Mesdag (on behalf of himself and the other reporting persons hereunder) 2012-05-17