Statement of Changes in Beneficial Ownership (4)
January 29 2020 - 4:55PM
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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3235-0287
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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
*
CURRY PATRICK J |
2. Issuer Name and Ticker or Trading Symbol
EMERGENT CAPITAL, INC.
[
EMGC
]
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director __X__ 10% Owner __X__ Officer (give title below) _____ Other (specify below) CEO |
(Last)
(First)
(Middle)
204 WOODHEW DRIVE |
3. Date of Earliest Transaction
(MM/DD/YYYY)
1/27/2020 |
(Street)
WACO, TX 76712
(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, par value $0.01 per share | 1/27/2020 | | A | | 1000000 (3) | A | $0 | 1000000 | D | |
Common Stock, par value $0.01 per share | | | | | | | | 14442716 | I | By PJC Investments, LLC (1) |
Common Stock, par value $0.01 per share | | | | | | | | 552431 | I | By spouse. |
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 |
Warrants (right to buy) | $.20 | | | | | | | (2) | 7/28/2023 | Common Stock, par value $0.01 per share | 13575000 | | 13575000 | I | By PJC Investments, LLC (1) |
Explanation of Responses: |
(1) | Mr. Curry is the principal and manager of PJC Investments, LLC. |
(2) | Of such warrants, 8,750,000 vested on July 28, 2017 and 4,825,000 will vest in connection with the conversion of the issuer's senior unsecured convertible notes outstanding as of July 28, 2017 (the "Outstanding Convertible Notes") into shares of the issuer's common stock on a 1 to 1 basis, or earlier upon the earliest date on which (x) at least 50% of the aggregate principal amount of the Outstanding Convertible Notes are converted into shares of the issuer's common stock, or (y) all of the Outstanding Convertible Notes are no long outstanding. |
(3) | Consists of restricted stock that will vest as to one-third on January 27 of each of 2021, 2022 and 2023. |
Remarks: Because Patrick J. Curry, a director of the issuer, controls PJC Investments, LLC, PJC Investments, LLC may be deemed to be a director by deputization. |
Reporting Owners
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Reporting Owner Name / Address | Relationships |
Director | 10% Owner | Officer | Other |
CURRY PATRICK J 204 WOODHEW DRIVE WACO, TX 76712 | X | X | CEO |
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PJC INVESTMENTS, LLC 204 WOODHEW DRIVE WACO, TX 76712 | X | X |
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Signatures
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/s/ Patrick J. Curry | | 1/29/2020 |
**Signature of Reporting Person | Date |