- Statement of Changes in Beneficial Ownership (4)
November 07 2008 - 1:03PM
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).
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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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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
*
STERN THEODORE
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2. Issuer Name
and
Ticker or Trading Symbol
UCN INC
[
UCNN
]
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__
X
__ Director
_____ 10% Owner
_____ Officer (give title below)
_____ Other (specify below)
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(Last)
(First)
(Middle)
EXECUTIVE ASSOCIATES, 2970 ONE PPG PLACE
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3. Date of Earliest Transaction
(MM/DD/YYYY)
11/5/2008
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(Street)
PITTSBURGH, PA 15222
(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
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11/5/2008
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A
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50000
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A
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$0
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1612713
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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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Employee Stock Options
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$3.05
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11/5/2008
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D
(1)
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10000
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(1)
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1/14/2009
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Common Stock
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10000
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(1)
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0
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D
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Employee Stock Options
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$3.05
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11/5/2008
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A
(1)
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10000
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(1)
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11/5/2013
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Common Stock
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10000
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(1)
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10000
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D
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Employee Stock Options
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$2
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11/5/2008
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D
(2)
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20000
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(2)
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11/8/2010
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Common Stock
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20000
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(2)
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0
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D
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Employee Stock Options
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$2
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11/5/2008
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A
(2)
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20000
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(2)
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11/5/2013
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Common Stock
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20000
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(2)
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20000
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D
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Employee Stock Options
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$3.11
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11/5/2008
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D
(3)
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20000
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(3)
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11/7/2011
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Common Stock
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20000
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(3)
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0
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D
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Employee Stock Options
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$3.11
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11/5/2008
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A
(3)
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20000
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(3)
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11/5/2013
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Common Stock
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20000
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(3)
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20000
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D
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Employee Stock Options
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$4.57
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11/5/2008
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D
(4)
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25000
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(4)
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11/7/2012
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Common Stock
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25000
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(4)
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0
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D
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Employee Stock Options
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$4.57
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11/5/2008
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A
(4)
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25000
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(4)
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11/5/2013
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Common Stock
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25000
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(4)
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25000
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D
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Explanation of Responses:
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(
1)
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The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of a replacement option. The option was originally granted on January 14, 2004 and were immediatly vested upon grant.
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(
2)
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The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of a replacement option. The option was originally granted on November 8, 2005 and 1,667 vested one month from grant date while the remaining 18,333 vested one year from grant date.
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(
3)
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The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of a replacement option. The option was originally granted on November 7, 2006 and vested one year from grant date.
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(
4)
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The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of a replacement option. The option was originally granted on November 6, 2007 and vested one year from grant date.
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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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STERN THEODORE
EXECUTIVE ASSOCIATES
2970 ONE PPG PLACE
PITTSBURGH, PA 15222
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X
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Signatures
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/s/ Theodore Stern
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11/7/2008
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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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