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13D Filing: Oak Management Corp and U.S. Auto Parts Network Inc. (PRTS)

Published on May 17, 2017 at 12:31 pm by Insider Monkey Staff in Hedge Funds
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Statement on Schedule 13D/A

This Amendment No. 4 to the statement
on Schedule 13D (this “Statement”) relates to the beneficial ownership of common stock, par value $0.001 per share
(the “Common Stock”), of U.S. Auto Parts Networks, Inc., a Delaware corporation (the “Company”). This Amendment
No. 4 to the statement on Schedule 13D is being filed on behalf of the Reporting Persons and amends and supplements the statement
on Schedule 13D originally filed with the United States Securities and Exchange Commission (“SEC”) by the Reporting Persons
on December 9, 2008, as previously amended. Unless otherwise defined, all capitalized terms used herein shall have the respective
meanings given to such terms in the initial Schedule 13D.

This Amendment No. 4 to the statement on Schedule
13D is being filed to reflect changes in the number of shares of Common Stock held and percentage beneficial ownership.

Item 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION

Item 3 of the Schedule 13D is hereby amended
and supplemented by adding the following:

The remaining 5,017 shares of Common Stock held by the Reporting Persons were distributed to the Reporting
Persons as a stock dividend on June 30, 2016 with respect to the Reporting Persons’ shares of the Company’s Series A Preferred
Stock.
Item 4. PURPOSE OF TRANSACTION

Item 4 of the Schedule 13D is hereby amended and supplemented by
adding the following:
On March 30, 2017, Fredric W. Harman resigned from the Company’s board of directors.
Item 5. INTEREST IN SECURITIES OF THE ISSUER
Item 5 of the Schedule 13D is hereby amended and restated as follows:
(a) and (b)
The approximate percentages of shares of Common Stock reported as beneficially owned by the Reporting Persons is based upon 34,628,267 shares of Common Stock outstanding as of May 10, 2017, as reported by the Company in its Quarterly Report on Form 10-Q for the period ended April 1, 2017 (as filed with the Securities and Exchange Commission on May 15, 2017).

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