- Statement of Changes in Beneficial Ownership (4)
25 Mai 2010 - 9:59PM
Edgar (US Regulatory)
FORM 4
[
X
]
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue.
See
Instruction 1(b).
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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OMB APPROVAL
OMB Number:
3235-0287
Expires:
February 28, 2011
Estimated average burden
hours per response...
0.5
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
*
Becker Steven R
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2. Issuer Name
and
Ticker or Trading Symbol
PLATO LEARNING INC
[
TUTR
]
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__
X
__ Director
__
X
__ 10% Owner
_____ Officer (give title below)
_____ Other (specify below)
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(Last)
(First)
(Middle)
10801 NESBITT AVENUE SOUTH
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3. Date of Earliest Transaction
(MM/DD/YYYY)
5/25/2010
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(Street)
BLOOMINGTON, MN 55437-3109
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
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6. Individual or Joint/Group Filing
(Check Applicable Line)
_
X
_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1.Title of Security
(Instr. 3)
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2. Trans. Date
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2A. Deemed Execution Date, if any
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3. Trans. Code
(Instr. 8)
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4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
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5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
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6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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Amount
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(A) or (D)
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Price
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Common Stock
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5/25/2010
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D
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2000
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D
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$5.6
(1)
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0
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D
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Common Stock
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5/25/2010
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D
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4119423
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D
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$5.6
(1)
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0
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I
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See footnote
(2)
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Table II - Derivative Securities Beneficially Owned (
e.g.
, puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security
(Instr. 3)
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2. Conversion or Exercise Price of Derivative Security
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3. Trans. Date
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3A. Deemed Execution Date, if any
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4. Trans. Code
(Instr. 8)
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5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
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6. Date Exercisable and Expiration Date
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7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
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8. Price of Derivative Security
(Instr. 5)
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9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)
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10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)
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11. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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(A)
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(D)
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Date Exercisable
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Expiration Date
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Title
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Amount or Number of Shares
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Non-Qualified Stock Option (right to buy)
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$1.57
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5/25/2010
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D
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15000
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3/19/2009
(3)
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3/18/2017
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Common Stock
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15000
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$4.03
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0
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D
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Non-Qualified Stock Option (right to buy)
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$1.6
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5/25/2010
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D
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10000
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3/27/2009
(3)
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3/26/2017
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Common Stock
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10000
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$4
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0
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D
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Explanation of Responses:
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(
1)
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Disposed of pursuant to merger agreement between issuer and Project Porsche Holdings Corporation and Project Porsche Merger Corp. in exchange for a cash payment of $5.60 per share on the effective date of the merger.
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(
2)
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The reported securities are owned directly by SRB Greenway Opportunity Fund, L.P., SRB Greenway Opportunity Fund (QP), L.P. and SRB Special Situations I, L.P. SRB Management L.P. is the general partner and investment manager of each of these partnerships and has sole voting and disposition power over the securities. BC Advisors, LLC is the general partner of SRB Management, L.P. and Steven Becker and Matthew Drapkin are the managing members of BC Advisors. The reporting person disclaims beneficial ownership of the reported securities, except to the extent of his pecuniary interest in the securities.
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(
3)
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This option, which was immediately exercisable, was canceled pursuant to the merger agreement in exchange for a cash payment representing the difference between the exercise price of the option and $5.60 per share on the effective date of the merger.
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Reporting Owners
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Reporting Owner Name / Address
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Relationships
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Director
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10% Owner
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Officer
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Other
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Becker Steven R
10801 NESBITT AVENUE SOUTH
BLOOMINGTON, MN 55437-3109
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X
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X
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Signatures
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By: Kelly Jacobus For: Steven R. Becker
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5/25/2010
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**
Signature of Reporting Person
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Date
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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*
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If the form is filed by more than one reporting person,
see
Instruction 4(b)(v).
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**
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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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Note:
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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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Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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