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Filing Details

Accession Number:: 0000897069-10-000107
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2010-02-02 12:00:00
Reporting Period:: 2010-01-29

Filing Date:: 2010-02-02
Accepted Time:: 2010-02-02 17:25:23
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
13606	White Electronic Designs Corp	WEDC	Semiconductors & Related Devices (3674)	350905052

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1455976	Randall Brian Kahn	3601 E. University Drive Phoenix AZ 85034		Yes	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2010-01-29	13,196	$4.85	4,630,740	No	4	P	Indirect	By Desert Equity LP
Common Stock	Acquisiton	2010-01-29	300	$4.86	4,631,040	No	4	P	Indirect	By Desert Equity LP
Common Stock	Acquisiton	2010-01-29	25,948	$4.86	4,656,988	No	4	P	Indirect	By Desert Equity LP

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Indirect	By Desert Equity LP
No	4	P	Indirect	By Desert Equity LP
No	4	P	Indirect	By Desert Equity LP

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	803,700	Indirect	By Caiman Partners, L.P.
Common Stock	22,500	Direct

Footnotes

The reported securities are owned directly by Desert Equity LP, a Delaware limited partnership ("Desert Equity"). Desert Equity is controlled by its sole general partner, Desert Management LLC, a Delaware limited liability company ("Desert Management"). Brian R. Kahn is the sole member and manager of Desert Management. Accordingly, Mr. Kahn may be deemed to indirectly beneficially own the securities directly owned by Desert Equity. Mr. Kahn disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
The reported securities are owned directly by Caiman Partners, L.P., a Delaware limited partnership ("Caiman Partners"). Caiman Partners is controlled by its general partner, Caiman Capital GP, L.P., a Delaware limited partnership ("Caiman Capital"). Caiman Capital is controlled by its managing general partner, Caiman Capital Management, LLC, a Delaware limited liability company ("Caiman Management"). Caiman Management is controlled by its managing member, Brian R. Kahn. Accordingly, Mr. Kahn may be deemed to indirectly beneficially own the securities directly owned by Caiman Partners. Mr. Kahn disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
The reported securities include (i) 15,000 restricted stock shares that vest in three equal annual installments beginning February 9, 2010 and (ii) 7,500 restricted stock shares that vest in three equal annual installments beginning May 7, 2010.