Statement of Changes in Beneficial Ownership (4)
October 01 2020 - 6:20PM
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
*
Berman Seth |
2. Issuer Name and Ticker or Trading Symbol
ASTA FUNDING INC
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ASFI
]
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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)
Secretary & General Counsel |
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(Last)
(First)
(Middle)
C/O ASTA FUNDING, INC., 210 SYLVAN AVE. |
3. Date of Earliest Transaction
(MM/DD/YYYY)
9/29/2020 |
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(Street)
ENGLEWOOD CLIFFS, NJ 07632
(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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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 |
| Stock Option (right to buy) | $7.63 | 9/29/2020 | | D | | | 30000 | (1) | 12/15/2020 | Common Stock | 30000 | (2) | 0 | D | |
| Stock Option (right to buy) | $7.77 | 9/29/2020 | | D | | | 30000 | (1) | 12/13/2021 | Common Stock | 30000 | (2) | 0 | D | |
| Stock Option (right to buy) | $9.57 | 9/29/2020 | | D | | | 20000 | (1) | 12/18/2022 | Common Stock | 20000 | (2) | 0 | D | |
| Stock Option (right to buy) | $8.49 | 9/29/2020 | | D | | | 20000 | (1) | 12/12/2023 | Common Stock | 20000 | (2) | 0 | D | |
| Explanation of Responses: |
| (1) | Options were fully exercisable as of September 29, 2020. |
| (2) | Pursuant to the Agreement and Plan of Merger, dated as of April 8, 2020 (as amended, the "Merger Agreement") among Asta Funding, Inc. (the "Company"), Asta Finance Acquisition Inc., and Asta Finance Acquisition Sub Inc., each tendered option was cancelled in exchange for the right to receive cash consideration equal to (a) the product of (i) the excess, if any, of $13.10 over the exercise price per share of the Company's common stock subject to such Company stock option multiplied by (ii) the total number of shares of the Company's common stock subject to such Company stock option, without interest, less (b) such amounts as are required to be withheld or deducted under applicable tax provisions. |
Reporting Owners
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| Reporting Owner Name / Address | Relationships |
| Director | 10% Owner | Officer | Other |
Berman Seth
C/O ASTA FUNDING, INC.
210 SYLVAN AVE.
ENGLEWOOD CLIFFS, NJ 07632 |
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| Secretary & General Counsel |
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Signatures
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| /s/ Seth Berman | | 10/1/2020 |
| **Signature of Reporting Person | Date |
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