-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, JspF6BJLSH8IOet9oGxmhVCrTYrd4MI4hSf7x0a+whfBlKCMATSMSJB+PVtwQ7PG zJFxdevm8nI2iWAcc7Dy6Q== 0000900440-10-000042.txt : 20100601 0000900440-10-000042.hdr.sgml : 20100531 20100601124410 ACCESSION NUMBER: 0000900440-10-000042 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20100601 DATE AS OF CHANGE: 20100601 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: REWARDS NETWORK INC CENTRAL INDEX KEY: 0000078536 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] IRS NUMBER: 846028875 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-35435 FILM NUMBER: 10868802 BUSINESS ADDRESS: STREET 1: TWO NORTH RIVERSIDE PLAZA STREET 2: SUITE 950 CITY: CHICAGO STATE: IL ZIP: 60606 BUSINESS PHONE: 312-521-6767 MAIL ADDRESS: STREET 1: TWO NORTH RIVERSIDE PLAZA STREET 2: SUITE 950 CITY: CHICAGO STATE: IL ZIP: 60606 FORMER COMPANY: FORMER CONFORMED NAME: IDINE REWARDS NETWORK INC DATE OF NAME CHANGE: 20020613 FORMER COMPANY: FORMER CONFORMED NAME: TRANSMEDIA NETWORK INC /DE/ DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: PIKES PEAK AMERICAN CORP DATE OF NAME CHANGE: 19840912 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: ELKHORN PARTNERS LIMITED PARTNERSHIP CENTRAL INDEX KEY: 0000928400 IRS NUMBER: 000000000 STATE OF INCORPORATION: NE FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: ELKHORN LIMITED PARTNERSHIP STREET 2: PO BOX 0449 CITY: ELKHORN STATE: NE ZIP: 68022-0449 BUSINESS PHONE: 4022893217 MAIL ADDRESS: STREET 1: ELKHORN LIMITED PARTNERSHIP STREET 2: PO BOX 0449 CITY: ELKHORN STATE: NE ZIP: 68022 SC 13D/A 1 ep13d_jun1.htm ep13d_jun1.htm


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 2)*

REWARDS NETWORK INC.
(Name of Issuer)


COMMON STOCK
(Title of Class of Securities)


761557107
(CUSIP Number)


Alan S. Parsow
with a copy to
David L. Hefflinger
Elkhorn Partners Limited Partnership
  
Jason D. Benson
2222 Skyline Drive
  
McGrath North Mullin
Elkhorn, NE 68022
  
& Kratz, PC LLO
(402) 289-3217
  
Suite 3700 First National Tower
   
Omaha, NE 68102
   
(402) 341-3070

(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)

May 25, 2010
(Date of Event which Required Filing of this Statement)



If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g) check the following box [ ].

*The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act.

 
 
 

CUSIP NO. 761557107
13D
Page 2 of 3 Pages

1.  
Name of Reporting Person

Elkhorn Partners Limited Partnership

2.  
Check the Appropriate Box if a Member of a Group

/X/
(a)
/ /
(b)

3.  
SEC Use Only

4.  
Source of Funds

WC

5.  
Check Box if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) or 2(e)

/ /

6.  
Citizenship or Place of Organization

Nebraska

 
7. Sole Voting Power
   
 
718,200 Shares
Number of
  
Shares
8. Shared Voting Power
Beneficially
  
Owned by
0
Reporting
  
Person
9. Sole Dispositive Power
With
  
 
718,200 Shares
   
 
10. Shared Dispositive Power
   
 
0

11.  
Aggregate Amount Beneficially Owned by Each Reporting Person

718,200 Shares

12.  
Check Box if Aggregate Amount in Row 11 Excludes Certain
Shares

/ /

13.  
Percent of Class Represented by Amount in Row 11

Approximately 8.1% of voting securities

14.  
Type of Reporting Person

PN

 
 
 


CUSIP NO. 761557107
13D
Page 3 of 3 Pages


Elkhorn Partners Limited Partnership (the “Partnership”) makes this filing to amend certain information previously reported by the Partnership.  This filing constitutes Amendment No. 2 to the Schedule 13D of the Partnership.  The Partnership amends such prior Schedule 13D reports with respect to the common stock of Rewards Network Inc. (“Rewards Network”) by adding the following information to the items indicated:

ITEM 5.  INTEREST IN SECURITIES OF THE ISSUER.

(a)(b)  As of May 28, 2010, the Partnership owns 708,100 shares of Rewards Network common stock.  Alan S. Parsow also owns 10,100 shares of Rewards Network common stock in an individual retirement account.  The Rewards Network Form 10-Q for the quarter ended March 31, 2010 reported that there were outstanding 8,815,819 shares of Rewards Network common stock as of May 4, 2010.  Based on this number, the Partnership and Mr. Parsow own approximately 8.1% of the Rewards Network common stock.

(c)  During the past 60 days, the Partnership purchased 64,036 shares of Rewards Network common stock, in open market transactions, at prices ranging from $10.77 to $14.11 per share, and Mr. Parsow purchased 4,800 shares of Reward Network common stock, in open market transactions, at prices ranging from $11.03 to $13.05 per share.



SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I hereby certify that the information set forth in this statement is true, complete and correct.

DATED:  June 1, 2010


Elkhorn Partners Limited Partnership

By:  Parsow Management LLC, General Partner

By:  /s/  Alan S. Parsow
Alan S. Parsow
Sole Manager


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