Statement of Changes in Beneficial Ownership (4)
19 Juni 2020 - 11:13PM
Edgar (US Regulatory)
FORM 4
[ ]
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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OMB Number:
3235-0287
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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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1. Name and Address of Reporting Person
*
Kanen David |
2. Issuer Name and Ticker or Trading Symbol
U.S. Auto Parts Network, Inc.
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PRTS
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner _____ Officer (give title below) _____ Other (specify below)
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(Last)
(First)
(Middle)
5850 CORAL RIDGE DR STE 309 |
3. Date of Earliest Transaction
(MM/DD/YYYY)
6/16/2020 |
(Street)
CORAL SPRINGS, FL 33076
(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)
___ Form filed by One Reporting Person
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X
_ 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 | 6/16/2020 | | S | | 183544 | D | $9.0317 | 1673425 (1)(2) | I | THE PHILOTIMO FUND |
COMMON STOCK | 6/17/2020 | | S | | 109477 | D | $8.943 | 1563948 (1)(2) | I | THE PHILOTIMO FUND |
COMMON STOCK | 6/18/2020 | | S | | 52775 | D | $8.8949 | 1511173 (1)(2) | I | THE PHILOTIMO FUND |
COMMON STOCK | 6/19/2020 | | S | | 200000 | D | $8.69 | 1311173 (1)(2) | I | THE PHILOTIMO FUND |
COMMON STOCK | 6/19/2020 | | S | | 77755 | D | $8.7218 | 1233418 (1)(2) | I | THE PHILOTIMO FUND |
COMMON STOCK | | | | | | | | 179230 (1)(2) | D | |
COMMON STOCK | | | | | | | | 50000 (1)(2) | I | BY DEFINED BENEFIT PLAN |
COMMON STOCK | | | | | | | | 3215882 (1)(2) | I | KANEN WEALTH MANAGEMENT, LLC (3) |
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) | 2. Conversion or Exercise Price of Derivative Security | 3. Trans. Date | 3A. Deemed Execution Date, if any | 4. Trans. 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 | 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 of Derivative Security: 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 |
Explanation of Responses: |
(1) | 1. This Form 4 is filed jointly by David Kanen, Kanen Wealth Management, LLC ("KWM") and the Philotimo Fund, LP (collectively, the "Reporting Persons"). Each of the Reporting Persons may be deemed to be a member of a group that may be deemed to collectively beneficially own more than 10% of the Issuer's outstanding shares of Common Stock. The filing of this Form 4 shall not be deemed an admission that the Reporting Persons are, for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, the beneficial owners of any securities of the Issuer he or it does not directly own. |
(2) | 2.Mr.Kanen beneficially owns, pursuant to the beneficial ownership rules of Section 13(d) of the Securities Exchange Act of 1934, as amended, the shares of Common Stock listed in Column 5 of this Form 4, which represent approximately 13.6% of the Issuer's outstanding shares of Common Stock. Pursuant to such beneficial ownership rules, Mr. Kanen, as the managing member of KWM, may be deemed to beneficially own the shares of Common Stock held in customer accounts managed by KWM as disclosed in this Form 4 (including the 179,230 shares held in Mr. Kanen's account) and the 1,511,173 shares of Common Stock held by The Philotimo Fund LLC, of which KWM is the general partner. Mr. Kanen expressly disclaims such beneficial ownership except to the extent of his pecuniary interest therein. Mr. Kanen does not have a pecuniary interest under Section 16 of the Exchange Act in the shares of Common Stock held in customer accounts managed by KWM other than the 179,230 shares held in Mr. Kanen's Account |
(3) | KWM does not have a pecuniary interest in the shares of Common Stock held in customer accounts managed by KWM. The number reflected above excludes 179,230 shares held in Mr. Kanen's account as described in footnote 2 above. |
Reporting Owners
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Reporting Owner Name / Address | Relationships |
Director | 10% Owner | Officer | Other |
Kanen David 5850 CORAL RIDGE DR STE 309 CORAL SPRINGS, FL 33076 |
| X |
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Kanen Wealth Management LLC 5850 CORAL RIDGE DR STE 309 CORAL SPRINGS, FL 33076 |
| X |
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Philotimo Fund, LP 5850 CORAL RIDGE DR STE 309 CORAL SPRINGS, FL 33076 |
| X |
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Signatures
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/s/ David L. Kanen | | 6/19/2020 |
**Signature of Reporting Person | Date |
/s/ Kanen Wealth Management LLC By: David L. Kanen, Managing Member | | 6/19/2020 |
**Signature of Reporting Person | Date |
/s/ The Philotimo Fund By: David L. Kanen | | 6/19/2020 |
**Signature of Reporting Person | Date |
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