Page 9 of 13 SEC Filing
All or part of the shares of Common Stock directly owned by the Reporting Persons may from time to time be pledged with one or more banking institutions or brokerage firms as collateral for loans made by such bank(s) or brokerage firm(s) to the Reporting Persons. Such loans bear interest at a rate based upon the brokers call rate from time to time in effect. Such indebtedness may be refinanced with other banks or broker dealers.
Item 4. Purpose of Transaction
Since November 2, 2015, TCP 2 has purchased a total of 212,538 shares of Common Stock in the transactions described in the table below.
Transaction
Date
Number of
Shares
Weighted Average Price
Per Share
Low
High
11/3/2015
15,000
$
7.80
$
7.64
$
7.90
11/4/2015
20,000
$
7.84
$
7.67
$
7.99
11/5/2015
15,000
$
7.49
$
7.49
$
7.59
11/16/2015
10,000
$
6.77
$
6.70
$
6.85
11/17/2015
5,000
$
6.51
$
6.51
$
6.51
11/20/2015
5,000
$
5.90
$
5.90
$
5.90
11/24/2015
300
$
5.74
$
5.74
$
5.74
11/25/2015
3,638
$
5.67
$
5.65
$
5.70
12/2/2015
5,000
$
5.60
$
5.60
$
5.60
12/16/2015
15,000
$
4.74
$
4.70
$
4.74
12/17/2015
10,000
$
4.89
$
4.87
$
4.90
12/18/2015
13,522
$
5.27
$
5.16
$
5.30
12/21/2015
10,000
$
5.51
$
5.49
$
5.53
12/23/2015
15,000
$
5.83
$
5.74
$
5.85
12/24/2015
10,000
$
6.30
$
6.30
$
6.30
12/28/2015
15,000
$
6.12
$
5.93
$
6.25
12/29/2015
14,549
$
5.91
$
5.75
$
6.01
12/30/2015
5,000
$
5.77
$
5.77
$
5.77
12/31/2015
5,000
$
5.67
$
5.67
$
5.67
1/22/2016
9,129
$
4.65
$
4.65
$
4.65
1/29/2016
10,000
$
5.62
$
5.60
$
5.70
2/1/2016
1,400
$
5.09
$
5.03
$
5.10
The Reporting Persons acquired the shares of Common Stock for investment purposes and in the ordinary course of business. All of the Reporting Persons may dispose of securities of the Company at any time and from time to time in the open market, through dispositions in kind to parties holding an ownership interest in TCM, TM, TA and/or TCP 2 or otherwise. In addition, all of the Reporting Persons may obtain securities of the Company through open market purchases, transfers from other Reporting Persons or otherwise.
Although the foregoing represents the range of activities presently contemplated by the Reporting Persons with respect to the Company, it should be noted that the possible activities of the Reporting Persons are subject to change at any time. Accordingly, the Reporting Persons reserve the right to change their plans or intentions and to take any and all actions that they may deem to be in their best interests.
Except as set forth in the Schedule 13D, the Reporting Persons do not have any current intention, plan or proposal with respect to: (a) the acquisition by any person of additional securities of the Company, or the disposition of securities of the Company; (b) an extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the Company or any of its subsidiaries; (c) a sale or transfer of a material amount of assets of the Company or any of its subsidiaries; (d) any change in the present Board of Directors or management of the Company, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the Board; (e) any material change in the present capitalization or dividend policy of the Company; (f) any other material change in the Companys business or corporate structure; (g) changes in the Companys charter, bylaws or instruments corresponding thereto or other actions which may impede the acquisition of control of the Company by any person; (h) causing a class of securities of the Company to be delisted from a national securities exchange, if any, or cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association; (i) a class of equity securities of the Company becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Securities Act, or (j) any action similar to any of those enumerated in items (a) through (i) above.
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All or part of the shares of Common Stock directly owned by the Reporting Persons may from time to time be pledged with one or more banking institutions or brokerage firms as collateral for loans made by such bank(s) or brokerage firm(s) to the Reporting Persons. Such loans bear interest at a rate based upon the brokers call rate from time to time in effect. Such indebtedness may be refinanced with other banks or broker dealers.
Item 4. Purpose of Transaction
Since November 2, 2015, TCP 2 has purchased a total of 212,538 shares of Common Stock in the transactions described in the table below.
| Transaction |
| Number of |
| Weighted Average Price |
| Low |
| High |
| |||
| 11/3/2015 |
| 15,000 |
| $ | 7.80 |
| $ | 7.64 |
| $ | 7.90 |
|
| 11/4/2015 |
| 20,000 |
| $ | 7.84 |
| $ | 7.67 |
| $ | 7.99 |
|
| 11/5/2015 |
| 15,000 |
| $ | 7.49 |
| $ | 7.49 |
| $ | 7.59 |
|
| 11/16/2015 |
| 10,000 |
| $ | 6.77 |
| $ | 6.70 |
| $ | 6.85 |
|
| 11/17/2015 |
| 5,000 |
| $ | 6.51 |
| $ | 6.51 |
| $ | 6.51 |
|
| 11/20/2015 |
| 5,000 |
| $ | 5.90 |
| $ | 5.90 |
| $ | 5.90 |
|
| 11/24/2015 |
| 300 |
| $ | 5.74 |
| $ | 5.74 |
| $ | 5.74 |
|
| 11/25/2015 |
| 3,638 |
| $ | 5.67 |
| $ | 5.65 |
| $ | 5.70 |
|
| 12/2/2015 |
| 5,000 |
| $ | 5.60 |
| $ | 5.60 |
| $ | 5.60 |
|
| 12/16/2015 |
| 15,000 |
| $ | 4.74 |
| $ | 4.70 |
| $ | 4.74 |
|
| 12/17/2015 |
| 10,000 |
| $ | 4.89 |
| $ | 4.87 |
| $ | 4.90 |
|
| 12/18/2015 |
| 13,522 |
| $ | 5.27 |
| $ | 5.16 |
| $ | 5.30 |
|
| 12/21/2015 |
| 10,000 |
| $ | 5.51 |
| $ | 5.49 |
| $ | 5.53 |
|
| 12/23/2015 |
| 15,000 |
| $ | 5.83 |
| $ | 5.74 |
| $ | 5.85 |
|
| 12/24/2015 |
| 10,000 |
| $ | 6.30 |
| $ | 6.30 |
| $ | 6.30 |
|
| 12/28/2015 |
| 15,000 |
| $ | 6.12 |
| $ | 5.93 |
| $ | 6.25 |
|
| 12/29/2015 |
| 14,549 |
| $ | 5.91 |
| $ | 5.75 |
| $ | 6.01 |
|
| 12/30/2015 |
| 5,000 |
| $ | 5.77 |
| $ | 5.77 |
| $ | 5.77 |
|
| 12/31/2015 |
| 5,000 |
| $ | 5.67 |
| $ | 5.67 |
| $ | 5.67 |
|
| 1/22/2016 |
| 9,129 |
| $ | 4.65 |
| $ | 4.65 |
| $ | 4.65 |
|
| 1/29/2016 |
| 10,000 |
| $ | 5.62 |
| $ | 5.60 |
| $ | 5.70 |
|
| 2/1/2016 |
| 1,400 |
| $ | 5.09 |
| $ | 5.03 |
| $ | 5.10 |
|
The Reporting Persons acquired the shares of Common Stock for investment purposes and in the ordinary course of business. All of the Reporting Persons may dispose of securities of the Company at any time and from time to time in the open market, through dispositions in kind to parties holding an ownership interest in TCM, TM, TA and/or TCP 2 or otherwise. In addition, all of the Reporting Persons may obtain securities of the Company through open market purchases, transfers from other Reporting Persons or otherwise.
Although the foregoing represents the range of activities presently contemplated by the Reporting Persons with respect to the Company, it should be noted that the possible activities of the Reporting Persons are subject to change at any time. Accordingly, the Reporting Persons reserve the right to change their plans or intentions and to take any and all actions that they may deem to be in their best interests.
Except as set forth in the Schedule 13D, the Reporting Persons do not have any current intention, plan or proposal with respect to: (a) the acquisition by any person of additional securities of the Company, or the disposition of securities of the Company; (b) an extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the Company or any of its subsidiaries; (c) a sale or transfer of a material amount of assets of the Company or any of its subsidiaries; (d) any change in the present Board of Directors or management of the Company, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the Board; (e) any material change in the present capitalization or dividend policy of the Company; (f) any other material change in the Companys business or corporate structure; (g) changes in the Companys charter, bylaws or instruments corresponding thereto or other actions which may impede the acquisition of control of the Company by any person; (h) causing a class of securities of the Company to be delisted from a national securities exchange, if any, or cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association; (i) a class of equity securities of the Company becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Securities Act, or (j) any action similar to any of those enumerated in items (a) through (i) above.
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