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Filing Details

Accession Number:: 0000899243-18-017012
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2018-06-18 16:37:40
Reporting Period:: 2018-06-18

Accepted Time:: 2018-06-18 16:37:40
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
884144	Asure Software Inc	ASUR	Services-Computer Integrated Systems Design (7373)	742415696

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1038735	M Daniel Gill	C/O Silver Oak Services Partners Llc 1560 Sherman Avenue, Suite 1200 Evanston IL 60201		Yes	No	No	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, Par Value $0.01	Disposition	2018-06-18	500,000	$16.45	1,026,332	No	4	S	Indirect	See footnotes

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Indirect	See footnotes

Footnotes

Represent shares of Asure Software Inc.'s (the "Issuer") common stock sold in an underwritten secondary offering.
Represents the sale price to the underwriters in the secondary offering of $16.45 per share.
These shares are held directly by iSystems Holdings, LLC. ("Holdings"). Silver Oak iSystems, LLC ("iSystems LLC") is the owner of a controlling interest in Holdings and has the right to appoint a majority of the managers of Holdings. Silver Oak Services Partners II, L.P. ("SOSP II") is the sole member of iSystems LLC. Silver Oak Management II, L.P. ("SOM II") is the general partner of SOSP II. Silver Oak Services Partners, LLC ("SOSP LLC") is the general partner of SOM II. Daniel M. Gill and Gregory M. Barr are the sole members of SOSP LLC, each owning a 50% interest in SOSP LLC, who acting together, have the power to direct the decisions of SOSP II regarding the vote and disposition of securities held directly by Holdings. Consequently, Mr. Gill may be deemed to be an indirect beneficial owner of the shares held directly by Holdings. Mr. Gill expressly disclaims beneficial ownership of shares held directly by Holdings, except to the extent of his pecuniary interest therein.
As a result of this transaction, Holdings, iSystems LLC, SOSP II, SOM II, SOSP LLC and Mr. Barr have direct or indirect ownership of the Issuer of less than 10% and are no longer subject to Section 16 reporting with respect to the Issuer. Holdings, iSystems LLC, SOSP II, SOM II, SOSP LLC and Mr. Barr are filing a separate Form 4 for this transaction. Mr. Gill continues to be subject to Section 16 reporting in his capacity as a Director of the Issuer.