Statement of Changes in Beneficial Ownership (4)
22 November 2019 - 8:27AM
Edgar (US Regulatory)
FORM 4
[ ]
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
*
Vardeman Ryan L. |
2. Issuer Name and Ticker or Trading Symbol
BSQUARE CORP /WA
[
BSQR
]
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner _____ Officer (give title below) __X__ Other (specify below) Member of 10% Group |
(Last)
(First)
(Middle)
5310 HARVEST HILL ROAD, SUITE 110 |
3. Date of Earliest Transaction
(MM/DD/YYYY)
11/19/2019 |
(Street)
DALLAS, TX 75230
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
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6. Individual or Joint/Group Filing
(Check Applicable Line)
___ Form filed by One Reporting Person
_
X
_ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1.Title of Security (Instr. 3)
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2. Trans. Date
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2A. Deemed Execution Date, if any
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3. Trans. Code (Instr. 8)
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4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)
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5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)
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6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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Amount
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(A) or (D)
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Price
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Common Stock, No Par Value | 11/19/2019 | | P | | 33132 | A | $1.284 (1) | 1285346 | I | See footnotes (2)(3)(4)(5) |
Common Stock, No Par Value | | | | | | | | 51389 (6) | D | |
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Trans. Date | 3A. Deemed Execution Date, if any | 4. Trans. Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) |
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
Explanation of Responses: |
(1) | This price represents the approximate weighted average price per share of common stock of BSQUARE Corporation, a Washington corporation (the "Issuer"), no par value ("Shares"), of purchases that were executed at prices ranging from $1.265 to $1.30 per Share. The reporting persons undertake to provide, upon request by the Securities and Exchange Commission staff, the Issuer or a security holder of the Issuer, full information regarding the price per Share and the number of Shares purchased at each price. |
(2) | This statement is jointly filed by and on behalf of each of Ryan L. Vardeman, Palogic Value Fund, L.P., a Delaware limited partnership ("Palogic Value Fund"), Palogic Value Management, L.P., a Delaware limited partnership ("Palogic Value Management"), and Palogic Capital Management, LLC, a Delaware limited liability company ("Palogic Capital Management"). Mr. Vardeman and Palogic Value Fund are the record and direct beneficial owners of the securities covered by this statement. Palogic Value Management is the general partner of, and may be deemed to beneficially own securities owned by, Palogic Value Fund. Palogic Capital Management is the general partner of, and may be deemed to beneficially own securities beneficially owned by, Palogic Value Management. Mr. Vardeman is the sole member of, and may be deemed to beneficially own securities beneficially owned by, Palogic Capital Management. |
(3) | (continued from footnote 2) Mr. Vardeman is also a limited partner in, and may be deemed to beneficially own securities beneficially owned by, Palogic Capital Management. Mr. Vardeman is also a limited partner in, and may be deemed to beneficially own securities owned by, Palogic Value Fund. |
(4) | The reporting persons state that neither the filing of this statement nor anything herein shall be deemed an admission that the reporting persons are, for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act") or otherwise, the beneficial owners of any securities covered by this statement. The reporting persons disclaim beneficial ownership of the securities covered by this statement, except to the extent of the pecuniary interest of the reporting persons in such securities. |
(5) | The reporting persons may be deemed to be a member of a group with respect to the Issuer or securities of the Issuer for purposes of Section 13(d) or 13(g) of the Exchange Act. The reporting persons declare that neither the filing of this statement nor anything herein shall be construed as an admission that such persons are, for the purposes of Section 13(d) or 13(g) of the Exchange Act or any other purpose, a member of a group with respect to the Issuer or securities of the Issuer. |
(6) | Includes 26,041 restricted stock units of the Issuer awarded to Ryan L. Vardeman on June 11, 2019, pursuant to the Issuer's compensation plan for non-employee directors and the Fourth Amended and Restated Stock Plan of the Issuer which have not yet vested. |
Remarks: Exhibit Index Exhibit 99.1 - Joint Filer Information (filed herewith) Exhibit 99.2 - Joint Filing Agreement (filed herewith) |
Reporting Owners
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Reporting Owner Name / Address | Relationships |
Director | 10% Owner | Officer | Other |
Vardeman Ryan L. 5310 HARVEST HILL ROAD, SUITE 110 DALLAS, TX 75230 | X |
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| Member of 10% Group |
Palogic Value Fund, LP 5310 HARVEST HILL ROAD, SUITE 110 DALLAS, TX 75230 |
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| Member of 10% Group |
Palogic Value Management, L.P. 5310 HARVEST HILL ROAD, SUITE 110 DALLAS, TX 75230 |
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| Member of 10% Group |
Palogic Capital Management, LLC 5310 HARVEST HILL ROAD, SUITE 110 DALLAS, TX 75230 |
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| Member of 10% Group |
Signatures
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RYAN L. VARDEMAN, By: /s/ Ryan L. Vardeman | | 11/21/2019 |
**Signature of Reporting Person | Date |
PALOGIC VALUE FUND, L.P., By: Palogic Value Management, L.P., Its: General Partner, By: Palogic Capital Management, LLC, Its: General Partner, By: /s/ Ryan L. Vardeman, Name: Ryan L. Vardeman, Title: Sole Member | | 11/21/2019 |
**Signature of Reporting Person | Date |
PALOGIC VALUE MANAGEMENT, L.P., By: Palogic Capital Management, LLC, Its: General Partner, By: /s/ Ryan L. Vardeman, Name: Ryan L. Vardeman, Title: Sole Member | | 11/21/2019 |
**Signature of Reporting Person | Date |
PALOGIC CAPITAL MANAGEMENT, LLC, By: /s/ Ryan L. Vardeman, Name: Ryan L. Vardeman, Title: Sole Member | | 11/21/2019 |
**Signature of Reporting Person | Date |
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