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Filing Details

Accession Number:: 0001140361-17-023550
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2017-06-02 16:13:31
Reporting Period:: 2017-06-02

Filing Date:: 2017-06-02
Accepted Time:: 2017-06-02 16:13:31
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1271075	Usell.com Inc.	USEL	Services-Personal Services (7200)	980412432

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1644342	Piton Capital Partners Llc	C/O Kokino Llc 201 Tresser Boulevard, 3Rd Floor Stamford CT 06901		No	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	2017-06-02	1,358,837	$1.00	2,358,837	No	4	P	Direct

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

Reported Derivative Holdings

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Sec. Name	Sec. Type	Price	Date	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Common Stock	Stock Options (Right to Buy)	$1.00	2016-12-20	2021-12-20	1,000,000	1,000,000	Direct

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
2021-12-20	1,000,000	1,000,000	Direct

Footnotes

Piton Capital Partners LLC, a Delaware limited liability company ("Piton") and family client of Kokino LLC ("Kokino"), also reports beneficial ownership pursuant to Rule 13d-1 of the Securities Exchange Act of 1934, as amended, pursuant to a Schedule 13D filed jointly by Leslie J. Schreyer, as Trustee under Trust Agreement dated December 23, 1989 FBO the issue of Jonathan D. Sackler (the "Trust"), M3C Holdings LLC ("M3C"), Robert Averick and Piton, with the Issuer on December 30, 2016, as amended by a Schedule 13D Amendment No. 1 filed on June 2, 2017.
Represents shares of the Issuer's common stock ("Shares") beneficially owned by Piton. The Trust, M3C and Mr. Averick are members of Piton. Piton's managing member is Piton Capital Management LLC ("PCM"). PCM's managing member is Kokino LLC ("Kokino"), and Kokino is Piton's trading manager. Mr. Averick manages the Trust's, M3C's and Piton's investments in the Issuer as Kokino's Portfolio Manager. Mr. Averick, Kokino and PCM have no pecuniary interest in Piton's Shares, except that Mr. Averick owns a minority interest in Piton (which may be held directly and, occasionally, indirectly through PCM). Also, Mr. Averick's incentive compensation as an employee of Kokino, which is calculated in Kokino's discretion, may be based, among other things, on the performance of Shares held by the Trust, M3C and Piton. Such compensation may be paid in cash and/or by increasing Mr. Averick's minority interest in Piton (either directly or indirectly through PCM).
Represents the aggregate shares of common stock that Piton has the right to purchase under the stock options.