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Filing Details

Accession Number:: 0001019687-10-001967
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2010-05-21 13:00:00
Reporting Period:: 2009-02-10

Filing Date:: 2010-05-21
Accepted Time:: 2010-05-21 17:28:39
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1288496	St. Bernard Software Inc.	SBSW.OB	Services-Prepackaged Software (7372)	200996152

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1468142	Am Bart Hedel Van	Emmaplein 2 Amsterdam 1075 AW		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	Disposition	2009-07-25	490,563	$0.00	2,542,773	No	4	J	Indirect	See Footnote
Common Stock	Acquisiton	2009-08-30	120,857	$0.15	2,663,630	No	4	P	Indirect	See Footnote
Common Stock	Acquisiton	2010-04-01	666,667	$0.15	3,330,297	No	4	P	Indirect	See Footnote

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	J	Indirect	See Footnote
No	4	P	Indirect	See Footnote
No	4	P	Indirect	See Footnote

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Stock Options	Acquisiton	2009-02-10	4,197	$0.25	4,197	$0.25
Common Stock	Stock Options	Acquisiton	2009-02-10	4,197	$0.25	4,197	$0.25
Common Stock	Stock Options	Acquisiton	2009-02-10	4,197	$0.25	4,197	$0.25
Common Stock	Stock Options	Acquisiton	2009-02-10	4,197	$0.25	4,197	$0.25
Common Stock	Stock Options	Acquisiton	2009-02-10	8,393	$0.25	8,393	$0.25
Common Stock	Stock Options	Acquisiton	2009-02-10	8,393	$0.25	8,393	$0.25
Common Stock	Stock Options	Acquisiton	2009-02-10	50,000	$0.25	50,000	$0.25

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
4,197	2006-07-27	2010-12-29	No	4	J	Direct
4,197	2006-07-27	2012-01-26	No	4	J	Direct
4,197	2006-07-27	2012-12-29	No	4	J	Direct
4,197	2009-07-27	2013-12-29	No	4	J	Direct
8,393	2006-07-27	2013-12-29	No	4	J	Direct
8,393	2006-07-27	2013-04-28	No	4	J	Direct
50,000	2006-07-27	2016-09-06	No	4	J	Direct

Footnotes

379,900 of the shares of Common Stock held by Trustee Ai-Investments and 110,582 of the shares of Common Stock held by BeeBird Beheer B.V. were cancelled pursuant to that certain Agreement and Plan of Merger, dated as of October 26, 2005, as amended, among Sand Hill, Sand Hill Merger Corp., a wholly-owned subsidiary of Sand Hill, and St. Bernard Software, Inc. Bart van Hedel is a member of the issuer's Board of Directors, the Co-Trustee of Stichting Trustee Ai-Investments and an executive officer and indirect owner of BeeBird Beheer B.V. Mr. Hedel also owns, directly or indirectly, certain entities which are beneficiaries of the assets held in trust by Stichting Trustee Ai-Investments. Mr. Hedel expressly disclaims beneficial ownership in these shares, except to the extent of his respective pecuniary interests therein.
These shares of Common Stock were acquired by BeeBird Beheer B.V. in a private transaction. Bart van Hedel is a member of the issuer's Board of Directors and an executive officer and indirect owner of BeeBird Beheer B.V. Mr. Hedel expressly disclaims beneficial ownership in these shares, except to the extent of his respective pecuniary interests therein.
These shares of Common Stock were acquired by Trustee Ai-Investments. Bart van Hedel is a member of the issuer's Board of Directors and the Co-Trustee of Stichting Trustee Ai-Investments. Mr. Hedel also owns, directly or indirectly, certain entities which are beneficiaries of the assets held in trust by Stichting Trustee Ai-Investments. Mr. Hedel expressly disclaims beneficial ownership in these shares, except to the extent of his respective pecuniary interests therein.
On February 10, 2009, the exercise price of each stock option was amended to be $0.25. Each stock option vests over three years, with one third of the shares subject to the stock option vesting on the first year anniversary of the original grant date and the remaining two-thirds of the shares subject to the stock option vesting in equal monthly increments over the next 24 months thereafter.