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*
BRONSON STEVEN N

(Last) (First) (Middle)
C/O QUALSTAR CORPORATION
130 WEST COCHRAN STREET, UNIT C

(Street)
WESTLAKE VILLAGE CA 91361

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
QUALSTAR CORP [ QBAK ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director X 10% Owner
X Officer (give title below) Other (specify below)
COB, CEO, President
3. Date of Earliest Transaction (Month/Day/Year)
12/18/2017
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(1) 12/18/2017 P 5,000 A $7.5 14,617(4) D
Common Stock(1) 12/18/2017 P 5,000 A $7.6 5,000 I By Mr. Bronson's spouse.
Common Stock(1) 12/20/2017 P 1,482 A $7.8 6,482 I By Mr. Bronson's spouse.
Common Stock(1) 12/20/2017 P 3,518 A $7.9514(5) 10,000 I By Mr. Bronson's spouse.
Common Stock(1) 548,085(2)(4) I By BKF Asset Holdings, Inc.
Common Stock(1) 548,085(3)(4) I By BKF Capital Group, Inc.
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*
BRONSON STEVEN N

(Last) (First) (Middle)
C/O QUALSTAR CORPORATION
130 WEST COCHRAN STREET, UNIT C

(Street)
WESTLAKE VILLAGE CA 91361

(City) (State) (Zip)
1. Name and Address of Reporting Person*
BKF CAPITAL GROUP INC

(Last) (First) (Middle)
C/O QUALSTAR CORPORATION
130 WEST COCHRAN STREET, UNIT C

(Street)
WESTLAKE VILLAGE CA 91361

(City) (State) (Zip)
1. Name and Address of Reporting Person*
BKF Asset Holdings, Inc.

(Last) (First) (Middle)
C/O QUALSTAR CORPORATION
130 WEST COCHRAN STREET, UNIT C

(Street)
WESTLAKE VILLAGE CA 91361

(City) (State) (Zip)
Explanation of Responses:
1. This Form 4 is filed jointly by BKF Capital Group, Inc. ("BKF Capital"), BKF Asset Holdings, Inc. ("BKF Holdings") and Steven N. Bronson (collectively, the "Reporting Persons"). Each of the Reporting Persons disclaims beneficial ownership of the shares of common stock reported herein except to the extent of his or its pecuniary interest therein.
2. Represents shares of common stock owned directly by BKF Holdings. BKF Holdings is wholly owned by BKF Capital. Steven N. Bronson, as the Chairman, CEO and majority shareholder of BKF Capital and the CEO of BKF Holdings, may be deemed to be the beneficial owner of the shares of Qualstar Corporation held by BKF Holdings.
3. Represents shares of common stock owned indirectly by BKF Capital through BFK Holdings. Steven N. Bronson, as the Chairman, CEO and majority shareholder of BKF Capital, may be deemed to be the beneficial owner of the shares of Qualstar Corporation indirectly held by BKF Capital.
4. This Form 4 reflects a one-for-six reverse split of the Reporting Person's common stock which became effective on June 4, 2016.
5. This transaction was executed in multiple trades at prices ranging from $7.92 to $7.9514. The price reported reflects the weighted average purchase price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder full information regarding the number of shares and prices at which the transaction was effected.
/s/Steven N. Bronson 12/20/2017
/s/Steven N. Bronson, Chief Executive Officer of BKF Capital Group, Inc. 12/20/2017
/s/Steven N. Bronson, Chief Executive Officer of BKF Asset Holdings, Inc. 12/20/2017
** 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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