QUMU Qumu Corporation

The following constitutes Amendment No. 4 to the Schedule 13D filed by the undersigned (“Amendment No. 4”). This Amendment No. 4 amends the Schedule 13D as specifically set forth herein.

Item 3 is hereby amended and restated to read as follows:

Of the 605,500 Shares beneficially owned by Dolphin III, (i) 560,500 Shares were purchased with working capital (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business) in open market purchases, and (ii) an aggregate of 45,000 Shares were issued to Mr. Netter, and subsequently transferred to Dolphin III for no consideration, pursuant to the Partnership Agreement, upon the vesting of restricted stock units that were awarded to Mr. Netter while he was a director of the Issuer from July 2015 until May 2018. The aggregate purchase cost of the 560,500 Shares is approximately $3,683,662, including brokerage commissions.

Item 4 is hereby amended to add the following:

On October 18, 2019, the Reporting Persons delivered a revised letter (the “Letter”) to the Board of Directors of the Issuer (the “Board”) reiterating several concerns set forth in a four-page letter, dated September 24, 2019, previously delivered by the Reporting Persons to the Chairman of the Board. The foregoing description of the Letter does not purport to be complete and is qualified in its entirety by reference to the full text of the Letter, which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 5(a) is hereby amended and restated to read as follows:

(a)       The aggregate percentage of Shares reported owned by each person named herein is based upon 9,908,782 shares outstanding, as of August 23, 2019, which is the total number of Shares outstanding as reported in the Issuer’s Registration Statement on Form S-3, filed with the Securities and Exchange Commission on August 26, 2019.

As of the date hereof, the Reporting Persons collectively own an aggregate of 605,500 Shares, constituting approximately 6.1% of the Shares outstanding.

As of the date hereof, Dolphin III owns 605,500 Shares, constituting approximately 6.1% of the Shares outstanding. As the general partner of Dolphin III, Dolphin Associates III may be deemed to beneficially own the 605,500 Shares owned by Dolphin III, constituting approximately 6.1% of the Shares outstanding. As the managing member of Dolphin Associates III, Dolphin Holdings Corp. III may be deemed to beneficially own the 605,500 Shares owned by Dolphin III. In addition to his pecuniary interest in Dolphin III, as the Senior Managing Director of Dolphin Holdings Corp. III, Mr. Netter may be deemed to beneficially own the 605,500 Shares owned by Dolphin III.

Each of the Reporting Persons, as a member of a “group” with the other Reporting Persons for the purposes of Rule 13d-5(b)(1) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), may be deemed to beneficially own the Shares owned by the other Reporting Persons.  The filing of this Schedule 13D shall not be deemed an admission that any of the Reporting Persons is, for purposes of Section 13(d) of the Exchange Act, the beneficial owner of any Shares he or it does not directly own.  Each of the Reporting Persons specifically disclaims beneficial ownership of the Shares reported herein that he or it does not directly own, except to the extent of his or its pecuniary interest therein.

Item 7 is hereby amended to add the following exhibit:

Exhibit 99.1 Letter to the Board of Directors, dated October 18, 2019.

SIGNATURES

After reasonable inquiry and to the best of his knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.