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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
889930	Overland Storage Inc	OVRL	Computer Storage Devices (3572)	953535285

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1302247	Eric Kelly	9112 Spectrum Center Blvd San Diego CA 92123	President And Ceo	Yes	Yes	No	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Disposition	2014-11-28	10,000	$3.75	790,086	No	4	S	Direct
Common Stock	Disposition	2014-12-01	790,086	$0.00	0	No	4	D	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Direct
No	4	D	Direct

Reported Derivative Transactions

Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Incentive Stock Option (right to buy)	Disposition	2014-12-01	59,999	$0.00	59,999	$3.90
Common Stock	Non-Qualified Stock Option (right to buy)	Disposition	2014-12-01	1,200	$0.00	1,200	$3.75

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
0		2015-01-27	No	4	D	Direct
0		2014-12-09	No	4	D	Direct

Footnotes

This transaction reflects the disposition of shares of the issuer's common stock pursuant to the Agreement and Plan of Merger, dated as of May 15, 2014, by and among the issuer, Sphere 3D Corporation ("Acquirer") and S3D Acquisition Company (the "Merger Agreement") in exchange for 0.46385 shares of Acquirer for each one share of issuer (the "Exchange Ratio"). The Market Value of Acquirer's stock on December 1, 2014 was $7.71.
This number of shares includes 541,666 restricted stock units, each of which represents the right to receive one share of the issuer's common stock. Pursuant to the Merger Agreement, these restricted stock units will be assumed by the Acquirer and converted into the right to receive shares of Acquirer common stock as adjusted by the Exchange Ratio. The current vesting and other terms of the award continue in effect.
This option, which is fully vested and exercisable, was assumed by the Acquirer and will be replaced with an option to purchase shares of Acquirer common stock. Both the number of shares under the option and the exercise price will be adjusted by the Exchange Ratio. The current vesting and other terms of the award continue in effect.