Pier 1 Imports Inc (PIR): Hedge Fund Alden Global Capital Doubled Its Money In 100 Days

Page 6 of 8 – SEC Filing

(c)

The transaction in the Shares by Alden Master Fund since the filing of Amendment No. 3 to the Schedule 13D is set forth in Schedule A and is incorporated herein by reference.

B.

Alden

(a)

Alden, as the investment manager of Alden Master Fund, may be deemed the beneficial owner of the 7,632,034 Shares owned by Alden Master Fund.

Percentage: 9.2%

(b)

1. Sole power to vote or direct vote: 0

2. Shared power to vote or direct vote: 7,632,034

3. Sole power to dispose or direct the disposition: 0

4. Shared power to dispose or direct the disposition: 7,632,034

(c)

Alden has not entered into any transactions in the Shares since the filing of Amendment No. 3 to the Schedule 13D.  The transaction in the Shares on behalf of Alden Master Fund since the filing of Amendment No. 3 to the Schedule 13D is set forth in Schedule A and is incorporated herein by reference.

C.	Mr. Freeman

(a)

Mr. Freeman, as the President of Alden, may be deemed the beneficial owner of 7,632,034 Shares owned by Alden Master Fund.

Percentage: Approximately 9.2%

(b)

1. Sole power to vote or direct vote: 0

2. Shared power to vote or direct vote: 7,632,034

3. Sole power to dispose or direct the disposition: 0

4. Shared power to dispose or direct the disposition: 7,632,034

(c)

Mr. Freeman has not entered into any transactions in the Shares since the filing of Amendment No. 3 to the Schedule 13D.  The transaction in the Shares on behalf of Alden Master Fund since the filing of Amendment No. 3 to the Schedule 13D is set forth in Schedule A and is incorporated herein by reference.

The Reporting Persons, as members of a “group” for the purposes of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended, may be deemed the beneficial owner of the Shares directly owned by the other Reporting Persons.  Each Reporting Person disclaims beneficial ownership of such Shares except to the extent of his or its pecuniary interest therein.

Item 7.

Material to be Filed as Exhibits.

Item 7 is hereby amended to add the following exhibit:

99.1

Letter to the Board of Directors, dated December 20, 2016.