Lawrence M. Stern | Philip R. Weingold, Esq. |
Stern Family Partners, L.P. | Kramer Levin Naftalis & Frankel LLP |
708 Third Avenue, Suite 1610 | 1177 Avenue of the Americas |
New York, NY 10017 | New York, NY 10036 |
(212) 832-1200 | (212) 715-9435 |
1
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NAMES OF REPORTING PERSONS
Stern Family Partners, L.P.
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See instructions)
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3
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SEC USE ONLY
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4
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SOURCE OF FUNDS (See instructions)
WC
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5
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CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e)
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6
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CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
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7
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SOLE VOTING POWER
359,781
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8
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SHARED VOTING POWER
0
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9
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SOLE DISPOSITIVE POWER
359,781
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10
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SHARED DISPOSITIVE POWER
0
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11
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
359,781
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12
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CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (see instructions)
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13
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.1%
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14
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TYPE OF REPORTING PERSON (See instructions)
PN
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1
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NAMES OF REPORTING PERSONS
Lawrence M. Stern
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See instructions)
(a)
(b)
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3
|
SEC USE ONLY
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||
4
|
SOURCE OF FUNDS (See instructions)
OO
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5
|
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e)
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6
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CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
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NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
|
7
|
SOLE VOTING POWER
359,781 (1)
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8
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SHARED VOTING POWER
0
|
||
9
|
SOLE DISPOSITIVE POWER
359,781 (1)
|
||
10
|
SHARED DISPOSITIVE POWER
0
|
||
11
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
359,781 (1)
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||
12
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (see instructions)
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||
13
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.1%
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14
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TYPE OF REPORTING PERSON (See instructions)
IN
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(a)
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Stern Family Partners beneficially owns 359,781 shares of Common Stock, which constitutes approximately 5.1% of the outstanding shares of Common Stock. Because of his position as the sole general partner of Stern Family Partners, Mr. Stern may, pursuant to Rule 13d-3 under the Act, be deemed to be the beneficial owner of the 359,781 shares of Common Stock held by Stern Family Partners, which constitutes approximately 5.1% of the outstanding shares of Common Stock. Mr. Stern disclaims beneficial ownership of any such shares except to the extent of his pecuniary interest therein.
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(b)
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Stern Family Partners has the sole power to vote or to direct the vote and to dispose or to direct the disposition of 359,781 shares of Common Stock. As the sole general partner of Stern Family Partners, Mr. Stern may be deemed to have sole power to vote or to direct the vote and to dispose or to direct the disposition of 359,781 shares of Common Stock held by Stern Family Partners.
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(c)
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From December 19, 2011 through January 3, 2012, Stern Family Partners effected the transactions in the Company’s securities (all of which transactions were effected in the open market) set forth on Schedule A attached hereto.
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Reporting Person
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Date
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Transaction
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No. of Shares
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Price per
Share ($)
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Stern Family Partners
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12/21/2011
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Buy
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300
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1.55
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Stern Family Partners
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12/22/2011
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Buy
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400
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1.47
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Stern Family Partners
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12/22/2011
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Buy
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400
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1.55
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Stern Family Partners
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12/27/2011
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Buy
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4
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1.625
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Stern Family Partners
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12/28/2011
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Buy
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100
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1.44
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Stern Family Partners
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12/28/2011
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Buy
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100
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1.48
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Stern Family Partners
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1/03/2012
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Buy
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300
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1.65
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