Filing Details
- Accession Number:
- 0001140361-15-027685
- Form Type:
- 4
- Zero Holdings:
- No
- Publication Time:
- 2015-07-16 08:03:51
- Reporting Period:
- 2015-07-14
- Filing Date:
- 2015-07-16
- Accepted Time:
- 2015-07-16 08:03:51
- SEC Url:
- Form 4 Filing
Issuer
| Cik | Name | Symbol | Sector (SIC) | IRS No |
|---|---|---|---|---|
| 1036188 | Qad Inc | QADA, QADB | Services-Prepackaged Software (7372) | 770105228 |
Insiders
| Cik | Name | Reported Address | Insider Title | Director | Officer | Large Shareholder | Other |
|---|---|---|---|---|---|---|---|
| 1080338 | F Karl Lopker | 100 Innovation Place Santa Barbara CA 93108 | Ceo | Yes | Yes | Yes | No |
Reported Non-Derivative Transactions
| Sec. Name | Acquisiton - Disposition | Date | Amount | Price | Remaning Holdings | Equity Swap Involved | Form Type | Code | Nature of Ownership | Explanation |
|---|---|---|---|---|---|---|---|---|---|---|
| Class A Common Stock ($0.001 Par Value) | Disposition | 2015-07-14 | 223,629 | $0.00 | 5,523,835 | No | 4 | S | Direct | |
| Class B Common Stock ($0.001 Par Value) | Acquisiton | 2015-07-14 | 260,463 | $0.00 | 1,990,770 | No | 4 | P | Direct |
| Equity Swap Involved | Form Type | Code | Nature of Ownership | Explanation |
|---|---|---|---|---|
| No | 4 | S | Direct | |
| No | 4 | P | Direct |
Reported Non-Derivative Holdings
| Sec. Name | Remaning Holdings | Nature of Ownership | Explanation |
|---|---|---|---|
| Class A Common Stock ($0.001 Par Value) | 103,860 | Direct | |
| Class B Common Stock ($0.001 Par Value) | 30,441 | Direct | |
| Class A Common Stock ($0.001 Par Value) | 361,140 | Indirect | Lopker Family Foundation |
| Class B Common Stock ($0.001 Par Value) | 19,828 | Indirect | Lopker Family Foundation |
| Class A Common Stock ($0.001 Par Value) | 5,084 | Indirect | Lopker Family 1997 Charitable Remainder Trust |
| Class B Common Stock ($0.001 Par Value) | 1,247 | Indirect | Lopker Family 1997 Charitable Remainder Trust |
| Class A Common Stock ($0.001 Par Value) | 103,511 | Indirect | By spouse |
| Class B Common Stock ($0.001 Par Value) | 30,193 | Indirect | By spouse |
Footnotes
- The transactions reported in this statement are with respect to different classes of securities and, therefore, are not matchable transactions for purposes of Section 16(b) of the Securities Exchange Act of 1934, as amended (the "Act"). See Gibbons v. Malone, 801 F. Supp. 2d 243 (S.D.N.Y. 2011), aff'd, 703 F.3d 595 (2d Cir. 2013).
- Pursuant to a share exchange agreement, dated July 14, 2015 (the "Exchange Agreement"), by and between Pamela M. and Karl F. Lopker, as Trustees of the Lopker Living Trust dated November 18, 2013 (the "Lopker Trust"), and Palogic Value Fund, L.P. ("Palogic Value Fund"), Palogic Value Fund agreed to transfer 260,463 shares of Class B Common Stock of QAD Inc. (the "Issuer"), par value $0.001 per share ("Class B Shares"), to the Lopker Trust, and the Lopker Trust agreed to transfer 223,629 shares of Class A Common Stock of the Issuer, par value $0.001 per share ("Class A Shares"), to Palogic Value Fund. The transfer of Class B Shares in exchange for Class A Shares occurred concurrently with the execution and delivery of the Exchange Agreement, which was an arms-length transaction for in-kind rather than cash consideration and, accordingly, does not have a per-share price.
- This exchange is being reported on Form 4 for both Karl F. Lopker and Pamela M. Lopker, who act as joint trustees of the Lopker Living Trust.
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