Statement of Changes in Beneficial Ownership (4)
05 3월 2021 - 12:09AM
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).
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
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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
*
Drapkin Matthew A |
2. Issuer Name and Ticker or Trading Symbol
PRGX GLOBAL, INC.
[
PRGX
]
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below)
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(Last)
(First)
(Middle)
NORTHERN RIGHT CAPITAL MANAGEMENT, L.P., 9 OLD KINGS HIGHWAY, 4TH FLOOR |
3. Date of Earliest Transaction
(MM/DD/YYYY)
3/3/2021 |
(Street)
DARIEN, CT 06820
(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, no par value | 3/3/2021 | | D(1) | | 7480 | D | $7.71 | 2028068 | D | |
Common Stock, no par value | 3/3/2021 | | D(1) | | 2028068 | D | $7.71 | 0 | I | By Northern Right Capital Management, L.P. (2) |
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 |
Restricted Stock Units subject to deferral election | (3) | 3/3/2021 | | D | | | 30769 | (3) | (3) | Common Stock, no par value | 30769 | (3) | 0 | D | |
Stock Option (right to buy) | $4.80 | 3/3/2021 | | D | | | 35000 | (4) | 11/9/2023 | Common Stock, no par value | 35000 | $2.91 (4) | 0 | D | |
Stock Option (right to buy) | $4.80 | 3/3/2021 | | D | | | 20417 | (4) | 11/9/2023 | Common Stock, no par value | 20417 | $2.91 (4) | 0 | D | |
Stock Option (right to buy) | $6.35 | 3/3/2021 | | D | | | 13636 | (4) | 11/9/2023 | Common Stock, no par value | 13636 | $1.36 (4) | 0 | D | |
Deferred Compensation Plan Stock Units | (5) | 3/3/2021 | | D | | | 10052 | (5) | (5) | Common Stock, no par value | 10052 | $7.71 (5) | 0 | D | |
Deferred Compensation Plan Stock Units | (5) | 3/3/2021 | | D | | | 18547 | (5) | (5) | Common Stock, no par value | 18547 | $7.71 (5) | 0 | D | |
Explanation of Responses: |
(1) | Disposed of pursuant to the Agreement and Plan of Merger dated as of December 24, 2020 (the "Merger Agreement"), by and among PRGX Global, Inc., a Georgia Corporation (the "Company"), Pluto Acquisitionco Inc., a Delaware corporation ("Parent"), and Pluto Merger Sub Inc., a Georgia corporation and wholly owned subsidiary of Parent ("Merger Sub"). |
(2) | Shares beneficially owned by Mr. Drapkin include shares deemed beneficially owned indirectly by Mr. Drapkin who is a managing member of BC Advisors, LLC, which is the general partner of Northern Right Capital Management, L.P. (of which Mr. Drapkin is a limited partner). Northern Right Capital Management, L.P. is the general partner of, and investment manager for, Northern Right Capital (QP), L.P. |
(3) | Pursuant to the Merger Agreement, at the effective time, and in accordance with the terms of the PRGX Global, Inc. Deferred Compensation Plan for Non-Employee Directors (the "Plan"), each Company RSU which is subject to a deferral election under the Plan was deemed contributed to the Plan and then cancelled and converted into the right to receive a cash payment, without interest, equal to (i) $7.71 multiplied by (ii) the total number of shares of Company common stock subject to such Company RSU, less any required withholding taxes. |
(4) | Pursuant to the Merger Agreement, at the effective time of the Merger, each outstanding option to purchase Company common stock (each, a "Company Stock Option"), whether vested or unvested, was cancelled and converted into the right to receive a cash payment, without interest, equal to (i) $7.71, less the exercise price per share attributable to such Company Stock Option multiplied by (ii) the total number of shares of Company common stock then issuable upon exercise in full of such Company Stock Options, less any required withholding taxes. |
(5) | Pursuant to the Merger Agreement, at the effective time, and in accordance with the terms of the Plan, each Stock Unit (as defined in the Plan) was cancelled and converted into the right of the holder of such Stock Unit to receive a cash payment, without interest, equal to (i) $7.71 multiplied by (ii) the number of shares of Company common stock subject to each Stock Unit. |
Reporting Owners
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Reporting Owner Name / Address | Relationships |
Director | 10% Owner | Officer | Other |
Drapkin Matthew A NORTHERN RIGHT CAPITAL MANAGEMENT, L.P. 9 OLD KINGS HIGHWAY, 4TH FLOOR DARIEN, CT 06820 | X |
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Signatures
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/s/ Victor A. Allums as Attorney-in-Fact for Matthew A. Drapkin | | 3/4/2021 |
**Signature of Reporting Person | Date |
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