Page 3 of 4 SEC Filing
Item 1. Security and Issuer
This Amendment No. 21 to Schedule 13D relates
to the common stock, no par value (the “Common Stock”), of Point.360, a California corporation (the “Company”),
the principal executive offices of which are located at 2701 Media Center Drive, Los Angeles, CA 90065.
Item 2. Identity and Background
(a) This Schedule 13D is filed by Haig
S. Bagerdjian.
(b) The principal business address of
Mr. Bagerdjian is 2701 Media Center Drive, Los Angeles, CA 90065
(c) Mr. Bagerdjian’s principal occupation
is Chairman, President and Chief Executive Officer of the Company. The Company is principally engaged in servicing the post-production
needs of entertainment studios, corporations, and independent producers. The Company’s address is 2701 Media Center Drive, Los
Angeles, CA 90065.
(d) and (e) During the last five years,
Mr. Bagerdjian (i) has not been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) and (ii)
has not been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such
proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities
subject to, federal or state securities laws or finding any violation with respect to such laws.
(f) Mr. Bagerdjian is a citizen of the
United States.
Item 3. Source and Amount of Funds or Other
Consideration
The information contained in Item 4 is incorporated
by reference into this Item 3.
Item 4. Purpose of the Transaction
In February 2016, options to purchase 225,000
beneficially owned shares of the Common Stock subject to a stock option agreement between Mr. Bagerdjian and the Company expired,
reducing Mr. Bagerdjian’s ownership of vested options to 455,000.
Depending upon market conditions and other
factors that Mr. Bagerdjian deems material, after the date of this Schedule 13D, (i) Mr. Bagerdjian may purchase additional shares
of Common Stock or other securities of the Company in the open market, in private transactions or from the Company, or may dispose
of all or a portion of the shares of Common Stock or other securities of the Company that he now owns or hereafter may acquire,
and (ii) Mr. Bagerdjian may develop plans respecting, or propose changes in, the management, composition of the board of directors,
policies, operations, capital structure or business of the Company, including a possible future sale of the Company. Mr. Bagerdjian
does not have any present plans or proposals that relate to, or that would result in, any of the events described in paragraphs
(a) to (j) of Item 4 of the Schedule 13D instructions. Mr. Bagerdjian reserves the right to formulate plans or make proposals,
and take such actions with respect to his investment in the Company, including any or all of the items specified in paragraphs
(a) to (j) of Item 4 of the Schedule 13D instructions and any other actions as he may determine.
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