Leaf Group Ltd.

06/16/2021 | Press release | Distributed by Public on 06/16/2021 04:10

Insider Trading Report (SEC Filing - 4)

SEC FORM 4SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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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X
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
Schulz Jennifer
(Last) (First) (Middle)
1655 26TH STREET
(Street)
SANTA MONICA CA 90404
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
LEAF GROUP LTD. [ LEAF] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
06/14/2021
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 06/14/2021 D(1)(2) 38,686 D (1)(2) 0(3) D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction 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 (Month/Day/Year) 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: 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
Stock Option (right to buy) $5.45 06/14/2021 D 8,222 (4) 11/02/2026 Common Stock 8,222 (4) 0 D
Stock Option (right to buy) $7.9 06/14/2021 D 9,360 (4) 05/16/2027 Common Stock 9,360 (4) 0 D
Stock Option (right to buy) $7.65 06/14/2021 D 11,138 (4) 05/20/2029 Common Stock 11,138 (4) 0 D
Stock Option (right to buy) $5.73 06/14/2021 D 11,666 (4) 11/01/2030 Common Stock 11,666 (4) 0 D
Explanation of Responses:
1. This Form 4 reports securities disposed of pursuant to the terms of that certain Agreement and Plan of Merger, dated as of April 3, 2021 (the 'Merger Agreement'), by and among Graham Holdings Company ('Parent'), Pacifica Merger Sub, Inc. ('Merger Sub') and the Issuer, pursuant to which Merger Sub merged with and into the Issuer (the 'Merger') with the Issuer surviving as a wholly owned subsidiary of Parent effective as of June 14, 2021.
2. At the effective time of the Merger (the 'Effective Time'), (a) each issued and outstanding share of common stock of the Issuer ('Company Common Stock'), (b) each unvested restricted stock award of the Issuer ('Unvested Company RSU Award') and (c) each vested restricted stock award of the Issuer ('Vested Company RSU Award' and together with the Unvested Company RSU Awards, collectively, the 'RSUs') held by the reporting person was cancelled and converted into the right to receive $8.50 in cash (the 'Merger Consideration'), net of applicable withholding taxes and without interest.
3. Includes 6,309 unvested RSUs.
4. Pursuant to the Merger Agreement, at the Effective Time, each option to purchase shares of Company Common Stock ('Company Option') whether vested and exercisable immediately prior to the Effective Timeor unvested , was cancelled and, in consideration thereof, the holder of such Company Option received an amount (such amount, the 'Company Option Consideration') in cash equal to, subject to applicable tax withholding, the product of (i) the excess, if any, of the Merger Consideration over the exercise price per share of Company Common Stock underlying such Company Option, multiplied by (ii) the total number of shares of Company Common Stock subject to such Company Option.
/s/Adam Wergeles, as attorney-in-fact for Jennifer Schulz 06/16/2021
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** 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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