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Filing Details

Accession Number:: 0001127602-11-016645
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2011-05-17 17:03:27
Reporting Period:: 2011-05-13

Filing Date:: 2011-05-17
Accepted Time:: 2011-05-17 17:03:27
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1388133	Shoretel Inc	SHOR	Telephone & Telegraph Apparatus (3661)	770443568

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1512117	Eric Salzman	960 Stewart Drive Sunnyvale CA 9408		Yes	No	No	No

Reported Non-Derivative Transactions

Show Other Fields >>

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Disposition	2011-05-13	2,549,124	$11.16	5,018,291	No	4	S	Direct

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

Footnotes

Consists of 1,868,799 shares held by Lehman Brothers VC Partners 2002 L.P.; 686,039 shares held by LB I Group Inc.; 535,044 shares held by Lehman Brothers Venture Capital Partners II, L.P.; 380,650 shares held by Lehman Brothers Partnership Account 2000/2001, L.P.; 98,721 shares held by Lehman Brothers Offshore Partnership Account 2000/2001, L.P.; 1,448,254 shares held by Lehman Brothers P.A. LLC. Each of these entities is a direct or indirect wholly owned subsidiary of Lehman Brothers Holdings Inc. ("Holdings"). Legacy Asset Management Company LLC ("LAMCO"), a subsidiary of Lehman Brothers Holdings Inc., holds ultimate voting and investment control over shares held by these entities. Eric Salzman is a Managing Director of LAMCO, and, as such, shares voting and investment control of these securities. Mr. Salzman disclaims beneficial ownership of these securities, except to the extent of his direct pecuniary interest therein.
Other than the shares of common stock being reported herein by Lehman Brother's VC Partners 2002 L.P., LB I Group Inc., Lehman Brothers Venture Capital Partners II, L.P., Lehman Brothers Partnership Account 2000/2001, L.P. and Lehman Brothers Offshore Partnership Account 2000/2001, L.P., Holdings is unable to confirm whether or not it is the beneficial owner of any additional shares of the Issuer's common stock that may or may not be actually owned by any of Holdings' other affiliates, including the shares of common stock being reported herein by Lehman Brothers P.A., LLC. On September 15, 2008, Holdings, and at later dates a number of its affiliates, filed voluntary petitions for relief under Chapter 11 of the United States Code (the "Bankruptcy Code") in the United States Bankruptcy Court for the Southern District of New York (the "Bankruptcy Court") in a jointly administered proceeding captioned In re Lehman Brothers Holdings Inc., et. al. under Case No. 08-13555. On September 19, 2008, the Securities Investor Protection Corporation under the Securities Investor Protection Act of 1970, as amended ("SIPA") commenced a proceeding against Lehman Brothers Inc. ("LBI") in the United States District Court for the Southern District of New York (the "District Court") in the case captioned Securities Investors Protection Corporation v. Lehman Brothers Inc., Case No. 08-CIV-8119 (GEL). On September 19, 2008, the District Court entered the Order Commencing Liquidation (the "LBI Liquidation Order") pursuant to the provisions of SIPA. The LBI Liquidation Order provided, among other things, the appointment of James W. Giddens as trustee for the SIPA liquidation of LBI and removed the proceeding to the Bankruptcy Court under Case No. 08-1420 (JMP) SIPA. Holdings is unable to provide information on its beneficial ownership, if any, of the Issuer's common stock primarily due to (1) the commencement of various administrative or civil rehabilitation proceedings of subsidiaries comprising significant parts of Holdings' European and Asian businesses, which have resulted in significant portions of Holdings' securities trading records and systems being unavailable to, and non-accessible by, Holdings, and (2) the sale since September 15, 2008 of significant businesses comprising Holdings' historical business (the "Sale"). As a result of the Sale, and actions taken by certain creditors with respect to securities that had been pledged by Holdings, or its affiliates, as collateral to those creditors, Holdings cannot compile an accurate accounting of securities held. Holdings is currently engaged in an expensive and time consuming process to reconcile discrepancies in information Holdings has with respect to security holdings. Even with continued significant efforts and expense, Holdings may not be able to provide a record of securities held.
As a result of the LBI Liquidation Order and the appointment of Mr. Giddens as trustee, LBI is no longer an affiliate of Holdings and Holdings can no longer be deemed to be the beneficial owner of any shares of the Issuer's common stock that may or may not be owned by LBI. The shares of common stock previously reported as being owned by LBI have therefore been omitted from this filing.