Statement of Changes in Beneficial Ownership (4)
August 22 2018 - 2:52PM
Edgar (US Regulatory)
FORM 4
[
X
]
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue.
See
Instruction 1(b).
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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OMB APPROVAL
OMB Number:
3235-0287
Estimated average burden
hours per response...
0.5
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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
*
VARMA VIKRAM
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2. Issuer Name
and
Ticker or Trading Symbol
VERIFONE SYSTEMS, INC.
[
PAY
]
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director
_____ 10% Owner
__
X
__ Officer (give title below)
_____ Other (specify below)
General Counsel and Secretary
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(Last)
(First)
(Middle)
C/O VERIFONE SYSTEMS, INC., 88 WEST PLUMERIA DRIVE
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3. Date of Earliest Transaction
(MM/DD/YYYY)
8/20/2018
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(Street)
SAN JOSE, CA 95134
(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)
_
X
_ Form filed by One Reporting Person
___ 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, par value $0.01 per share
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8/20/2018
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D
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45733
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D
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(1)
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0
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D
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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)
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2. Conversion or Exercise Price of Derivative Security
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3. Trans. Date
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3A. Deemed Execution Date, if any
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4. Trans. Code
(Instr. 8)
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5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
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6. Date Exercisable and Expiration Date
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7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
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8. Price of Derivative Security
(Instr. 5)
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9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)
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10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)
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11. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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(A)
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(D)
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Date Exercisable
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Expiration Date
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Title
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Amount or Number of Shares
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Stock Option (right to buy)
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$23.00
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8/20/2018
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D
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25000
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(8)
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10/1/2020
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Common Stock, par value $0.01 per share
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25000
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(2)
(3)
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0
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D
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Stock Option (right to buy)
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$17.68
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8/20/2018
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D
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5000
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8/20/2018
(2)
(3)
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1/2/2025
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Common Stock, par value $0.01 per share
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5000
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(2)
(3)
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0
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D
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Restricted Stock Units
(4)
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$0.00
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8/20/2018
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D
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8153
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8/20/2018
(5)
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(5)
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Common Stock, par value $0.01 per share
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8153
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(5)
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0
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D
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Restricted Stock Units
(4)
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$0.00
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8/20/2018
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D
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2392
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8/20/2018
(5)
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(5)
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Common Stock, par value $0.01 per share
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2392
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(5)
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0
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D
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Restricted Stock Units
(4)
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$0.00
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8/20/2018
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D
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3301
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8/20/2018
(5)
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(5)
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Common Stock, par value $0.01 per share
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3301
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(5)
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0
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D
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Restricted Stock Units
(4)
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$0.00
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8/20/2018
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D
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14122
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8/20/2018
(5)
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(5)
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Common Stock, par value $0.01 per share
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14122
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(5)
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0
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D
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Restricted Stock Units
(4)
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$0.00
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8/20/2018
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D
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14122
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8/20/2018
(5)
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(5)
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Common Stock, par value $0.01 per share
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14122
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(5)
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0
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D
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Restricted Stock Units
(6)
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$0.00
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8/20/2018
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D
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11404
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8/20/2018
(7)
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(7)
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Common Stock, par value $0.01 per share
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11404
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(7)
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0
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D
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Explanation of Responses:
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(1)
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At the effective time of the merger contemplated by the Agreement and Plan of Merger, dated as of April 9, 2018, by and among VeriFone Systems, Inc. (the "Company"), Vertex Holdco LLC, and Vertex Merger Sub LLC (the "Effective Time"), (a) each issued and outstanding share of common stock of the Company (each, a "Share") (other than 17,500 issued and outstanding Shares that were rolled over into common units of Vertex Holdco LLC ("Rollover Stock Awards")) held by Mr. Varma was converted into the right to receive $23.04 in cash, without interest; and (b) each Rollover Stock Award was cancelled and converted into 17,500 shares of common units of Vertex Holdco LLC.
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(2)
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At the Effective Time, (a) each outstanding vested option (or vested portion thereof) to purchase Shares (each, a "Vested Company Option") was cancelled and converted into the right to receive (without interest), no later than three business days after the Effective Time, an amount in cash equal to the product obtained by multiplying (i) the total number of Shares subject to such Vested Company Option immediately prior to the Effective Time by (ii) the excess, if any, of $23.04 over the exercise price per Share of such Vested Company Option, less withholding taxes; and (b) each outstanding unvested option (or unvested portion thereof) to purchase Shares (each, an "Unvested Company Option") was cancelled and converted into the right to receive an amount in cash, without interest, equal to the product obtained by multiplying (i) the total number of Shares subject to such Unvested Company Option immediately prior to the Effective Time by (ii) the excess, if any,
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(3)
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(Continued from Footnote 2) of (A) $23.04 over (B) the exercise price per Share of such Unvested Company Option less withholding taxes, which remains subject to the same vesting schedule that applied to such Unvested Company Option immediately prior to the Effective Time.
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(4)
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Represents restricted stock units subject only to service-based vesting conditions (a "Company RSU") under the Company's stock plans.
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(5)
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At the Effective Time, each outstanding Company RSU under the Company's stock plans was converted into the right to receive an amount in cash (without interest) equal to the product obtained by multiplying (i) the total number of Shares subject to such Company RSU immediately prior to the Effective Time by (ii) $23.04, less withholding taxes, and otherwise remains subject to the same vesting schedule that applied immediately prior to the Effective Time.
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(6)
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Represents restricted stock units subject to performance-based vesting conditions (a "Company P-RSU") under the Company's stock plans.
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(7)
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At the Effective Time, each outstanding Company P-RSU was converted into the right to receive an amount in cash (without interest) equal to the product obtained by multiplying (i) the total number of Shares subject to such Company P-RSU immediately prior to the Effective Time based on the actual performance through the Effective Time by (ii) $23.04, less withholding taxes, and otherwise remains subject to the same vesting schedule that applied immediately prior to the Effective Time.
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(8)
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The Vested Company Options underlying this grant are fully exercisable as they previously vested.
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Reporting Owners
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Reporting Owner Name / Address
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Relationships
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Director
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10% Owner
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Officer
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Other
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VARMA VIKRAM
C/O VERIFONE SYSTEMS, INC.
88 WEST PLUMERIA DRIVE
SAN JOSE, CA 95134
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General Counsel and Secretary
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Signatures
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/s/ Vikram Varma
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8/21/2018
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**
Signature of Reporting Person
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Date
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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*
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If the form is filed by more than one reporting person,
see
Instruction 4(b)(v).
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**
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Intentional misstatements or omissions of facts constitute Federal Criminal Violations.
See
18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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Note:
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File three copies of this Form, one of which must be manually signed. If space is insufficient,
see
Instruction 6 for procedure.
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Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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