X0306 4 2015-02-03 0 0000058592 4Licensing Corp FOUR 0001492831 Massad Wade C/O 4LICENSING CORPORATION 767 THIRD AVENUE, 17TH FLOOR NEW YORK NY 10017 1 0 0 0 Common Stock 2015-04-02 4 X 0 12189 0.26 A 49389 D Common Stock 2015-04-02 4 S 0 12189 0.80 D 37200 D Common Stock 617100 I See Footnote Nonstatutory Stock Option (right to buy) 0.26 2015-04-02 4 X 0 12189 0.00 D 2023-02-27 Common Stock 12189 187811 D Common Stock Warrants (right to buy) 0.65 2015-02-03 4 P 0 77708 A 2015-02-03 2024-03-25 Common Stock 77708 77708 I See Footnote Common Stock Warrants (right to buy) 0.73 2015-03-04 4 P 0 52418 A 2015-03-04 2024-03-25 Common Stock 52418 52418 I See Footnote Represents 617,100 shares held and or managed by Cleveland Capital Management L.L.C. ("Cleveland Capital"). The Reporting Person is a managing director in Cleveland Capital and may have a pecuniary interest in the shares. The Reporting Person disclaims beneficial ownership of any shares of common stock in which he does not have a pecuniary interest. The option vested in three equal installments on February 27, 2013, 2014 and 2015. Represents a warrant to purchase 77,708 shares of Issuer's common stock that was acquired in connection with a transaction by the Issuer that triggered anti-dilution rights previously granted to Cleveland Capital, L.P. No separate consideration was paid by Cleveland Capital, L.P. for the warrant. The warrant is held by Cleveland Capital, L.P. The general partner of Cleveland Capital, L.P. is Cleveland Capital. The reporting person is a member of Cleveland Capital and may have a pecuniary interest in the warrant and the shares underlying the warrant. The Reporting Person disclaims beneficial ownership of the warrant and any shares underlying the warrant in which he does not have a pecuniary interest. Represents a warrant to purchase 52,418 shares of Issuer's common stock that was acquired in connection with a transaction by the Issuer that triggered anti-dilution rights previously granted to Cleveland Capital, L.P. No separate consideration was paid by Cleveland Capital, L.P. for the warrant. /s/ Wade I. Massad 2015-04-06