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Filing Details

Accession Number:: 0000921895-19-003002
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2019-12-16 16:23:34
Reporting Period:: 2019-12-12

Accepted Time:: 2019-12-16 16:23:34
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
86115	Safeguard Scientifics Inc	SFE	Investors, Nec (6799)	231609753

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1664091	Jr. M. Joseph Manko	1717 Arch Street 39Th Floor Philadelphia PA 19103		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, $0.10 Par Value	Acquisiton	2019-12-12	5,000	$11.96	60,728	No	4	P	Indirect	Horton Capital Partners Fund, LP
Common Stock, $0.10 Par Value	Acquisiton	2019-12-13	5,000	$11.95	65,728	No	4	P	Indirect	Horton Capital Partners Fund, LP

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Indirect	Horton Capital Partners Fund, LP
No	4	P	Indirect	Horton Capital Partners Fund, LP

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock, $0.10 Par Value	6,095	Direct
Common Stock, $0.10 Par Value	304,722	Indirect	Horton Capital Management, LLC
Common Stock, $0.10 Par Value	707,845	Indirect	Sierra Capital Investments, L.P.

Footnotes

Securities held in certain accounts jointly managed by Horton Capital Management, LLC ("HCM") and Maplewood Advisors IM, LLC ("MAIM") (collectively, the "Managed Accounts"). The Reporting Person, solely by virtue of his position as the managing member of HCM, which together with MAIM, act as the investment advisers to the Managed Accounts, may be deemed to beneficially own the securities held in the Managed Accounts for purposes of Section 16 of the Securities Exchange Act of 1934, as amended ("Section 16"). The Reporting Person expressly disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.
Securities owned directly by Sierra Capital Investments, L.P. ("Sierra"). The Reporting Person, solely by virtue of his position as the managing member of HCM, which together with MAIM, serve as the investment managers of Sierra, and as the managing member of Horton Capital Partners, LLC ("HCP"), which together with Maplewood Global Partners, LLC, serve as the general partners of Sierra, may be deemed to beneficially own the securities directly held by Sierra for purposes of Section 16. The Reporting Person expressly disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.
Securities owned directly by Horton Capital Partners Fund, LP ("HCPF"). The Reporting Person, solely by virtue of his position as the managing member of HCM, which serves as the investment manager of HCPF, and as the managing member of HCP, which serves as the general partner of HCPF, may be deemed to beneficially own the securities directly held by HCPF for purposes of Section 16. The Reporting Person expressly disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.
The price reported in Column 4 is a weighted average price. The shares of common stock were purchased in multiple transactions at prices ranging from: (i) $11.91-$12.00 on December 12, 2019 and (ii) $11.89-$12.00 on December 13, 2019. The Reporting Person undertakes to provide to the Issuer, any holder of the Issuer's common stock, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote 4 to this Form 4.