-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, LWqRsJGzJ5eissi4Vv+72ZdugjKJDPJ5UXdjruKE5B80HLUA5Isec4c5zyLX4CgY /aPnArEJpN81DQkNzneeYA== 0000919574-08-002321.txt : 20080325 0000919574-08-002321.hdr.sgml : 20080325 20080324194602 ACCESSION NUMBER: 0000919574-08-002321 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20080325 DATE AS OF CHANGE: 20080324 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: MICREL INC CENTRAL INDEX KEY: 0000932111 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674] IRS NUMBER: 942526744 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-44563 FILM NUMBER: 08708043 BUSINESS ADDRESS: STREET 1: 1849 FORTUNE DR CITY: SAN JOSE STATE: CA ZIP: 95131 BUSINESS PHONE: 4089440800 MAIL ADDRESS: STREET 1: 1849 FORTUNE DR CITY: SAN JOSE STATE: CA ZIP: 95131 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: OBREM CAPITAL MANAGEMENT, LLC CENTRAL INDEX KEY: 0001429441 IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 733 THIRD AVENUE STREET 2: 11TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10017 BUSINESS PHONE: 646-454-5311 MAIL ADDRESS: STREET 1: 733 THIRD AVENUE STREET 2: 11TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10017 SC 13D/A 1 d866737_13d.htm OBREM CAPITAL MANAGEMENT, LLC d866737_13d.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549

SCHEDULE 13D/A
THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 2)


Micrel, Incorporated
(Name of Issuer)


Common Stock, no par value
(Title of Class of Securities)


59473101
(CUSIP Number)

Obrem Capital Management, LLC
733 3rd Avenue
11th Floor
New York, New York 10017
Telephone - (646) 454-5311
(Name, Address and Telephone Number of Person Authorized to Receive
Notices and Communications)

March 20, 2008
(Date of Event Which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of ss.240.13D-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box [ ].
 
Note:  Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits.  See § 240.13d-7 for other parties to whom copies are to be sent.
   
*   The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

 
 
 


The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).


 
 
 
 
CUSIP No.
59473101
    

This filing serves as a Schedule 13D Amendment with respect to Obrem Capital Management, LLC.

1.
NAME OF REPORTING PERSONS
  
 
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
  
     
 
Obrem Capital Management, LLC
  

2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
   
(a)
[_]
   
(b)
[x]

3.
SEC USE ONLY
  
     
     

4.
SOURCE OF FUNDS
  
     
 
WC
  

5.
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
  
[_]
     

6.
CITIZENSHIP OR PLACE OF ORGANIZATION
  
     
 
Delaware
  

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
     

7.
SOLE VOTING POWER
  
     
 
0
  

8.
SHARED VOTING POWER
  
     
 
10,684,690
  

9.
SOLE DISPOSITIVE POWER
     
 
0
  

10.
SHARED DISPOSITIVE POWER
  
[_]
     
 
10,684,690
  

11.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
  
 
 
  
 
10,684,690
  

12.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
  
 
CERTAIN SHARES*
  
     

13.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
  
     
 
14.9%
  

14.
TYPE OF REPORTING PERSON
  
     
 
OO
  
 
 
 
 
CUSIP No.
59473101
    

This filing serves as a Schedule 13D Amendment with respect to Obrem Capital (GP), LLC.

1.
NAME OF REPORTING PERSONS
  
 
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
  
     
 
Obrem Capital (GP), LLC
  

2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
   
(a)
[_]
   
(b)
[x]

3.
SEC USE ONLY
  
     
     

4.
SOURCE OF FUNDS
  
     
 
WC
  

5.
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
  
[_]
     
     

6.
CITIZENSHIP OR PLACE OF ORGANIZATION
  
     
 
Delaware
  

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
     

7.
SOLE VOTING POWER
  
     
 
0
  

8.
SHARED VOTING POWER
  
     
 
10,684,690
  

9.
SOLE DISPOSITIVE POWER
     
 
0
  
 
10.
SHARED DISPOSITIVE POWER
  
[_]
     
 
10,684,690
  

11.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
  
 
PERSON
  
     
 
10,684,690
  

12.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
  
 
CERTAIN SHARES*
  
     

13.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
  
     
 
14.9%
  

14.
TYPE OF REPORTING PERSON
  
     
 
OO
  
 
 
 
 
CUSIP No.
59473101
    

This filing serves as a Schedule 13D Amendment with respect to Andrew Rechtschaffen.

1.
NAME OF REPORTING PERSONS
  
 
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
  
     
 
Andrew Rechtschaffen
  

2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
   
(a)
[_]
   
(b)
[x]

3.
SEC USE ONLY
  
     
     

4.
SOURCE OF FUNDS
  
     
 
WC
  

5.
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
  
[_]
     
     

6.
CITIZENSHIP OR PLACE OF ORGANIZATION
  
     
 
United States of America
  

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
     

7.
SOLE VOTING POWER
  
     
 
0
  

8.
SHARED VOTING POWER
  
     
 
10,684,690
  

9.
SOLE DISPOSITIVE POWER
     
 
0
  

10.
SHARED DISPOSITIVE POWER
  
[_]
     
 
10,684,690
  

11.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
  
 
PERSON
  
     
 
10,684,690
  

12.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
  
 
CERTAIN SHARES*
  
     

13.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
  
     
 
14.9%
  

14.
TYPE OF REPORTING PERSON
  
     
 
IN
  
 
 
 
 
CUSIP No.
59473101
    

This filing serves as a Schedule 13D Amendment with respect to Obrem Capital Offshore Master, L.P.

1.
NAME OF REPORTING PERSONS
  
 
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
  
     
 
Obrem Capital Offshore Master, L.P.
  

2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
   
(a)
[_]
   
(b)
[x]

3.
SEC USE ONLY
  
     
     

4.
SOURCE OF FUNDS
  
     
 
WC
  

5.
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
  
[_]
     
     

6.
CITIZENSHIP OR PLACE OF ORGANIZATION
  
     
 
Cayman Islands
  

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
     

7.
SOLE VOTING POWER
  
     
 
0
  

8.
SHARED VOTING POWER
  
     
 
6,103,612
  

9.
SOLE DISPOSITIVE POWER
     
 
0
  

10.
SHARED DISPOSITIVE POWER
  
[_]
     
 
6,103,612
  

11.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
  
 
PERSON
  
     
 
6,103,612
  

12.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
  
 
CERTAIN SHARES*
  
     

13.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
  
     
 
8.5%
  

14.
TYPE OF REPORTING PERSON
  
     
 
PN
  
 
 
 

CUSIP No.
59473101
    

This filing serves as a new Schedule 13D with respect to Obrem Capital (QP), L.P.

1.
NAME OF REPORTING PERSONS
  
 
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
  
     
 
Obrem Capital (QP), L.P.
  

2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
   
(a)
[_]
   
(b)
[x]

3.
SEC USE ONLY
  
     
     

4.
SOURCE OF FUNDS
  
     
 
WC
  

5.
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
  
[_]
     
     

6.
CITIZENSHIP OR PLACE OF ORGANIZATION
  
     
 
Delaware
  

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
     

7.
SOLE VOTING POWER
  
     
 
0
  

8.
SHARED VOTING POWER
  
     
 
4,581,078
  

9.
SOLE DISPOSITIVE POWER
     
 
0
  

10.
SHARED DISPOSITIVE POWER
  
[_]
     
 
4,581,078
  

11.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
  
 
PERSON
  
     
 
4,581,078
  

12.
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
  
 
CERTAIN SHARES*
  
     

13.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
  
     
 
6.4%
  

14.
TYPE OF REPORTING PERSON
  
     
 
PN
  
 
 
 

CUSIP No.
59473101
    
     

Item 1.
Security and Issuer.
  

 
No change.
  

Item 2.
Identity and Background.
  

   
No change.
  
 
Item 3.
Source and Amount of Funds or Other Consideration.
  

 
The funds for the purchase of the Shares beneficially owned by the Reporting Persons came from the working capital of the Reporting Persons or the private investment vehicles managed by the Reporting Persons, as the case may be.
 
The total cost for the Shares that the Reporting Persons may be deemed to beneficially own is $85,555,015.92.
 
No borrowed funds were used to purchase the Shares, other than any borrowed funds used for working capital purposes (including certain leverage arrangements) in the ordinary course of business.
  

Item 4.
Purpose of Transaction.
  

   
The Reporting Persons purchased the Shares based on the Reporting Persons' belief that the Shares, when purchased, were undervalued and represented an attractive investment opportunity.  Depending upon overall market conditions, other investment opportunities available to the Reporting Persons, and the availability of Shares at prices that would make the purchase of additional Shares desirable, the Reporting Persons may endeavor to increase their position in the Issuer through, among other things, the purchase of Shares on the open market or in private transactions or otherwise, on such terms and at such times as the Reporting Persons may deem advisable.
 
On March 12, 2008, the Reporting Persons delivered a letter to the Issuer’s Board of Directors (“the Board”) expressing the Reporting Persons' desire to discuss potential alternatives through which the Issuer can create permanent shareholder value. As of the time of this filing, the Reporting Persons are collectively the beneficial owners of 14.9% of the Issuer's issued and outstanding Shares.  The Reporting Persons believe that shares of the Issuer are substantially undervalued and that the Board should explore strategic alternatives, including pursuing the sale of the entire company.   A copy of the letter sent to the Board dated March 12, 2008 was attached as Exhibit C to the Schedule 13D Amendment 1 filed on March 19, 2008.
 
In connection with their investment in the Shares of the Issuer, the Reporting Persons may also engage in communications with members of management and additional communications with the Board, other current or prospective shareholders, industry analysts, existing or potential strategic partners or competitors, investment and financing professionals, sources of credit and other investors with respect to the types of corporate action that may be covered in paragraphs (a) through (j) of Item 4 of Schedule 13D.  The Reporting Persons intend to review their investment in the Issuer on a continuing basis.  Depending on various factors including, without limitation, the Issuer's financial position and investment strategy, the price levels of the Shares, conditions in the securities markets and general economic and industry conditions, the Reporting Persons may in the future take such actions with respect to their investment in the Issuer as they deem appropriate including, without limitation, seeking board representation, making proposals to the Issuer concerning changes to the capitalization, ownership structure or operations of the Issuer, purchasing additional Shares, selling some or all of their Shares, engaging in short selling of, or any hedging or similar transaction with respect to, the Shares or changing their intention with respect to any and all matters referred to in this Item 4.
  
         

Item 5.
Interest in Securities of the Issuer.
  

 
(a)-(e)
As of the date of this filing, Obrem Capital Management, LLC, Obrem Capital (GP), LLC and Andrew Rechtschaffen may be deemed to be the beneficial owner of 10,684,690 Shares or 14.9% of the Shares of the Issuer, based upon the 71,753,339 Shares outstanding as of February 25, 2008, according to the Issuer's most recent Form 10-K.  As of the date of this filing, Obrem Capital Offshore Master, L.P. may be deemed to be the beneficial owner of 6,103,612 Shares or 8.5% of the Shares of the Issuer. As of the date of this filing, Obrem Capital (QP), L.P. may be deemed to be the beneficial owner of 4,581,078 Shares or 6.4% of the Shares of the Issuer.
 
Each of Obrem Capital Management, LLC, Obrem Capital (GP), LLC and Andrew Rechtschaffen has the sole power to vote or direct the vote of 0 Shares and the shared power to vote or direct the vote of 10,684,690 Shares.  Obrem Capital Offshore Master, L.P. has the sole power to vote or direct the vote of 0 Shares and the shared power to vote or direct the vote of 6,103,612 Shares. Obrem Capital (QP), L.P. has the sole power to vote or direct the vote of 0 Shares and the shared power to vote or direct the vote of 4,581,078 Shares.
 
Each of Obrem Capital Management, LLC, Obrem Capital (GP), LLC and Andrew Rechtschaffen has the sole power to dispose or direct the disposition of 0 Shares and the shared power to dispose or direct the disposition of 10,684,690 Shares.  Obrem Capital Offshore Master, L.P. has the sole power to dispose or direct the disposition of 0 Shares and the shared power to dispose or direct the disposition of 6,103,612 Shares.  Obrem Capital (QP), L.P. has the sole power to dispose or direct the disposition of 0 Shares and the shared power to dispose or direct the disposition of 4,581,078 Shares.
 
The trading date, number of Shares purchased and the price per share for all transactions in the Shares during the past 60 days by the Reporting Persons are set forth in Exhibit B and were effected in open market transactions.
 
The Shares were acquired for investment purposes.  Obrem Capital Management, LLC, Obrem Capital (GP), LLC, Andrew Rechtschaffen, Obrem Capital Offshore Master, L.P. and Obrem Capital (QP), L.P. may acquire additional Shares, dispose of all or some of these Shares from time to time, in each case in open market or private transactions, block sales or purchases or otherwise, or may continue to hold the Shares.
 
The Reporting Persons specifically disclaim beneficial ownership in the Shares reported herein except to the extent of their pecuniary interest therein.
 
    
       

Item 6.
Contracts, Arrangements, Understandings or Relationships with Respect
  
 
to Securities of the Issuer.
  

 
   No change.
  
     
     
Item 7.
Material to be Filed as Exhibits.
  

 
A.  An agreement relating to the filing of a joint statement as required by Rule 13d-1(f) under the Securities Exchange Act of 1934 is filed herewith as Exhibit A.
 
B.  A description of the transactions in the Shares that were effected by the Reporting Persons during the past 60 days is filed herewith as Exhibit B.
  
     
     

 
 
 


SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 
March 24, 2008
 
(Date)

Obrem Capital Management, LLC

By:  /s/ Andrew Rechtschaffen
     Andrew Rechtschaffen, Managing Member

Obrem Capital (GP), LLC

By:  /s/ Andrew Rechtschaffen
     Andrew Rechtschaffen, Managing Member

Andrew Rechtschaffen

/s/ Andrew Rechtschaffen

Obrem Capital Offshore Master, L.P.
By:  Obrem Capital (GP), LLC, its general partner

By:  /s/ Andrew Rechtschaffen
     Andrew Rechtschaffen, Managing Member

Obrem Capital (QP), L.P.
By:  Obrem Capital (GP), LLC, its general partner

By:  /s/ Andrew Rechtschaffen
     Andrew Rechtschaffen, Managing Member



Attention:  Intentional misstatements or omissions of fact constitute Federal criminal violations (see 18 U.S.C. 1001).


 
 
 

Exhibit A

AGREEMENT

The undersigned agree that this amended Schedule 13D dated March 24, 2008, and any further amendments hereto, relating to the Common Stock, no par value, of Micrel, Incorporated shall be filed on behalf of the undersigned.


March 24, 2008
-----------------------
(Date)


Obrem Capital Management, LLC

By:  /s/ Andrew Rechtschaffen
     Andrew Rechtschaffen, Managing Member

Obrem Capital (GP), LLC

By:  /s/ Andrew Rechtschaffen
     Andrew Rechtschaffen, Managing Member

Andrew Rechtschaffen

/s/ Andrew Rechtschaffen

Obrem Capital Offshore Master, L.P.
By:  Obrem Capital (GP), LLC, its general partner

By:  /s/ Andrew Rechtschaffen
     Andrew Rechtschaffen, Managing Member

Obrem Capital (QP), L.P.
By:  Obrem Capital (GP), LLC, its general partner

By:  /s/ Andrew Rechtschaffen
     Andrew Rechtschaffen, Managing Member



 
 
 


Exhibit B




Transactions – Obrem Capital Management, LLC, Obrem Capital (GP), LLC and Andrew Rechtschaffen

 
Date of Transaction
 
Title of Class
 
Number of Shares Purchased
 
Price Per Share
 
 
 2/21/2008
Common Stock, no par value
28,290.00
$6.85
  
2/21/2008
Common Stock, no par value
25,460.00
$6.77
  
2/21/2008
Common Stock, no par value
5,660.00
$6.80
  
2/21/2008
Common Stock, no par value
25,460.00
$6.83
  
2/21/2008
Common Stock, no par value
21,710.00
$6.85
  
2/21/2008
Common Stock, no par value
19,540.00
$6.77
  
2/21/2008
Common Stock, no par value
4,340.00
$6.80
  
2/21/2008
Common Stock, no par value
19,540.00
$6.83
  
2/22/2008
Common Stock, no par value
14,140.00
$6.71
  
2/22/2008
Common Stock, no par value
14,140.00
$6.73
  
2/22/2008
Common Stock, no par value
5,660.00
$6.76
  
2/22/2008
Common Stock, no par value
5,660.00
$6.77
  
2/22/2008
Common Stock, no par value
8,490.00
$6.71
  
2/22/2008
Common Stock, no par value
14,140.00
$6.71
  
2/22/2008
Common Stock, no par value
14,140.00
$6.70
  
2/22/2008
Common Stock, no par value
14,140.00
$6.69
  
2/22/2008
Common Stock, no par value
10,860.00
$6.71
  
2/22/2008
Common Stock, no par value
10,860.00
$6.73
  
2/22/2008
Common Stock, no par value
4,340.00
$6.76
  
2/22/2008
Common Stock, no par value
4,340.00
$6.77
  
2/22/2008
Common Stock, no par value
6,510.00
$6.71
  
2/22/2008
Common Stock, no par value
10,860.00
$6.71
  
2/22/2008
Common Stock, no par value
10,860.00
$6.70
  
2/22/2008
Common Stock, no par value
10,860.00
$6.69
  
2/25/2008
Common Stock, no par value
7,410.00
$6.67
  
2/25/2008
Common Stock, no par value
5,660.00
$6.87
  
2/25/2008
Common Stock, no par value
5,660.00
$6.86
  
2/25/2008
Common Stock, no par value
5,660.00
$6.91
  
2/25/2008
Common Stock, no par value
5,660.00
$6.80
  
2/25/2008
Common Stock, no par value
5,660.00
$6.77
  
2/25/2008
Common Stock, no par value
5,660.00
$6.79
  
2/25/2008
Common Stock, no par value
5,660.00
$6.78
  
2/25/2008
Common Stock, no par value
5,660.00
$6.79
  
2/25/2008
Common Stock, no par value
5,660.00
$6.83
  
2/25/2008
Common Stock, no par value
14,140.00
$6.93
  
2/25/2008
Common Stock, no par value
5,660.00
$6.95
  
2/25/2008
Common Stock, no par value
5,690.00
$6.67
  
2/25/2008
Common Stock, no par value
4,340.00
$6.87
  
2/25/2008
Common Stock, no par value
4,340.00
$6.86
  
2/25/2008
Common Stock, no par value
4,340.00
$6.91
  
2/25/2008
Common Stock, no par value
4,340.00
$6.80
  
2/25/2008
Common Stock, no par value
4,340.00
$6.77
  
2/25/2008
Common Stock, no par value
4,340.00
$6.79
  
2/25/2008
Common Stock, no par value
4,340.00
$6.78
  
2/25/2008
Common Stock, no par value
4,340.00
$6.79
  
2/25/2008
Common Stock, no par value
4,340.00
$6.83
  
2/25/2008
Common Stock, no par value
10,860.00
$6.93
  
2/25/2008
Common Stock, no par value
4,340.00
$6.95
  
2/26/2008
Common Stock, no par value
5,660.00
$7.03
  
2/26/2008
Common Stock, no par value
5,660.00
$7.08
  
2/26/2008
Common Stock, no par value
4,340.00
$7.03
  
2/26/2008
Common Stock, no par value
4,340.00
$7.08
  
2/27/2008
Common Stock, no par value
7,580.00
$7.21
  
2/27/2008
Common Stock, no par value
5,660.00
$7.17
  
2/27/2008
Common Stock, no par value
5,820.00
$7.21
  
2/27/2008
Common Stock, no par value
4,340.00
$7.17
  
2/28/2008
Common Stock, no par value
211,886.00
$7.34
  
2/28/2008
Common Stock, no par value
56,570.00
$7.34
  
2/28/2008
Common Stock, no par value
162,630.00
$7.34
  
2/28/2008
Common Stock, no par value
43,430.00
$7.34
  
2/29/2008
Common Stock, no par value
131,260.00
$7.36
  
2/29/2008
Common Stock, no par value
242,390.00
$7.36
  
2/29/2008
Common Stock, no par value
100,740.00
$7.36
  
2/29/2008
Common Stock, no par value
186,050.00
$7.36
  
3/3/2008
Common Stock, no par value
379,366.00
$7.41
  
3/3/2008
Common Stock, no par value
12,650.00
$7.51
  
3/3/2008
Common Stock, no par value
283,240.00
$7.41
  
3/3/2008
Common Stock, no par value
9,450.00
$7.51
  
3/4/2008
Common Stock, no par value
275,584.00
$7.50
  
3/4/2008
Common Stock, no par value
84,570.00
$7.50
  
3/4/2008
Common Stock, no par value
75,460.00
$7.46
  
3/4/2008
Common Stock, no par value
205,750.00
$7.50
  
3/4/2008
Common Stock, no par value
63,130.00
$7.50
  
3/4/2008
Common Stock, no par value
56,340.00
$7.46
  
3/5/2008
Common Stock, no par value
306,250.00
$7.74
  
3/5/2008
Common Stock, no par value
109,930.00
$7.72
  
3/5/2008
Common Stock, no par value
34,350.00
$7.76
  
3/5/2008
Common Stock, no par value
228,650.00
$7.74
  
3/5/2008
Common Stock, no par value
82,070.00
$7.72
  
3/5/2008
Common Stock, no par value
25,650.00
$7.76
  
3/6/2008
Common Stock, no par value
205,310.00
$7.67
  
3/6/2008
Common Stock, no par value
82,929.00
$7.65
  
3/6/2008
Common Stock, no par value
22,900.00
$7.67
  
3/6/2008
Common Stock, no par value
153,290.00
$7.67
  
3/6/2008
Common Stock, no par value
61,910.00
$7.65
  
3/6/2008
Common Stock, no par value
17,100.00
$7.67
  
3/7/2008
Common Stock, no par value
177,370.00
$7.91
  
3/7/2008
Common Stock, no par value
97,390.00
$7.89
  
3/7/2008
Common Stock, no par value
132,430.00
$7.91
  
3/7/2008
Common Stock, no par value
72,710.00
$7.89
  
3/10/2008
Common Stock, no par value
224,056.00
$7.86
  
3/10/2008
Common Stock, no par value
42,940.00
$7.93
  
3/10/2008
Common Stock, no par value
143,140.00
$7.91
  
3/10/2008
Common Stock, no par value
167,280.00
$7.86
  
3/10/2008
Common Stock, no par value
32,060.00
$7.93
  
3/10/2008
Common Stock, no par value
106,860.00
$7.91
  
3/11/2008
Common Stock, no par value
101,340.00
$8.02
  
3/11/2008
Common Stock, no par value
59,142.00
$7.95
  
3/11/2008
Common Stock, no par value
11,450.00
$7.95
  
3/11/2008
Common Stock, no par value
199,154.00
$8.01
  
3/11/2008
Common Stock, no par value
1,218.00
$8.01
  
3/11/2008
Common Stock, no par value
75,660.00
$8.02
  
3/11/2008
Common Stock, no par value
44,160.00
$7.95
  
3/11/2008
Common Stock, no par value
8,550.00
$7.95
  
3/11/2008
Common Stock, no par value
148,690.00
$8.01
  
3/11/2008
Common Stock, no par value
938.00
$8.01
  
3/12/2008
Common Stock, no par value
94,010.00
$8.26
  
3/12/2008
Common Stock, no par value
70,190.00
$8.26
  
3/12/2008
Common Stock, no par value
2,860.00
$8.20
  
3/12/2008
Common Stock, no par value
2,140.00
$8.20
  
3/12/2008
Common Stock, no par value
110,834.00
$8.29
  
3/12/2008
Common Stock, no par value
82,740.00
$8.29
  
3/12/2008
Common Stock, no par value
120,893.00
$8.31
  
3/12/2008
Common Stock, no par value
90,260.00
$8.31
  
3/12/2008
Common Stock, no par value
44,200.00
$8.32
  
3/12/2008
Common Stock, no par value
33,000.00
$8.32
  
3/13/2008
Common Stock, no par value
168,799.00
$8.25
  
3/13/2008
Common Stock, no par value
131,201.00
$8.30
  
3/13/2008
Common Stock, no par value
20,000.00
$8.20
  
3/14/2008
Common Stock, no par value
275,371.00
$8.40
  
3/14/2008
Common Stock, no par value
82,800.00
$8.38
  
3/14/2008
Common Stock, no par value
25,000.00
$8.35
  
3/17/2008
Common Stock, no par value
71,000.00
$8.49
  
3/17/2008
Common Stock, no par value
123,300.00
$8.47
  
3/17/2008
Common Stock, no par value
15,000.00
$8.55
  
3/18/2008
Common Stock, no par value
74,300.00
$8.61
  
3/18/2008
Common Stock, no par value
411,400.00
$8.55
  
3/18/2008
Common Stock, no par value
146,000.00
$8.56
  
3/18/2008
Common Stock, no par value
20,000
$8.51
  
3/19/2008
Common Stock, no par value
305,000
$8.79
  
3/19/2008
Common Stock, no par value
243,334
$8.74
  
3/19/2008
Common Stock, no par value
332,820
$8.83
  
3/20/2008
Common Stock, no par value
10,811
$8.71
  
3/20/2008
Common Stock, no par value
25,000
$8.75
  
3/20/2008
Common Stock, no par value
25,000
$8.75
  
3/20/2008
Common Stock, no par value
100,000
$8.75
  
3/20/2008
Common Stock, no par value
158,800
$8.80
  
3/20/2008
Common Stock, no par value
25,000
$8.81
  
3/20/2008
Common Stock, no par value
150,000
$8.83
  
3/20/2008
Common Stock, no par value
25,000
$8.84
  
3/20/2008
Common Stock, no par value
50,000
$8.84
  
3/20/2008
Common Stock, no par value
151,360
$8.85
  
3/20/2008
Common Stock, no par value
201,940
$8.85
  
3/20/2008
Common Stock, no par value
181,454
$8.85
  
3/20/2008
Common Stock, no par value
125,000
$8.86
  
3/20/2008
Common Stock, no par value
10,000
$8.87
  
3/20/2008
Common Stock, no par value
32,000
$8.88
  
3/20/2008
Common Stock, no par value
18,000
$8.96
  
3/20/2008
Common Stock, no par value
50,000
$8.98
  
Transactions – Obrem Capital Offshore Master, L.P.
 
 
Date of Transaction
 
Title of Class
 
Number of Shares Purchased
 
Price Per Share
 
2/21/2008
Common Stock, no par value
28,290.00
$6.85
  
2/21/2008
Common Stock, no par value
25,460.00
$6.77
  
2/21/2008
Common Stock, no par value
5,660.00
$6.80
  
2/21/2008
Common Stock, no par value
25,460.00
$6.83
  
2/22/2008
Common Stock, no par value
14,140.00
$6.71
  
2/22/2008
Common Stock, no par value
14,140.00
$6.73
  
2/22/2008
Common Stock, no par value
5,660.00
$6.76
  
2/22/2008
Common Stock, no par value
5,660.00
$6.77
  
2/22/2008
Common Stock, no par value
8,490.00
$6.71
  
2/22/2008
Common Stock, no par value
14,140.00
$6.71
  
2/22/2008
Common Stock, no par value
14,140.00
$6.70
  
2/22/2008
Common Stock, no par value
14,140.00
$6.69
  
2/25/2008
Common Stock, no par value
7,410.00
$6.67
  
2/25/2008
Common Stock, no par value
5,660.00
$6.87
  
2/25/2008
Common Stock, no par value
5,660.00
$6.86
  
2/25/2008
Common Stock, no par value
5,660.00
$6.91
  
2/25/2008
Common Stock, no par value
5,660.00
$6.80
  
2/25/2008
Common Stock, no par value
5,660.00
$6.77
  
2/25/2008
Common Stock, no par value
5,660.00
$6.79
  
2/25/2008
Common Stock, no par value
5,660.00
$6.78
  
2/25/2008
Common Stock, no par value
5,660.00
$6.79
  
2/25/2008
Common Stock, no par value
5,660.00
$6.83
  
2/25/2008
Common Stock, no par value
14,140.00
$6.93
  
2/25/2008
Common Stock, no par value
5,660.00
$6.95
  
2/26/2008
Common Stock, no par value
5,660.00
$7.03
  
2/26/2008
Common Stock, no par value
5,660.00
$7.08
  
2/27/2008
Common Stock, no par value
7,580.00
$7.21
  
2/27/2008
Common Stock, no par value
5,660.00
$7.17
  
2/28/2008
Common Stock, no par value
211,886.00
$7.34
  
2/28/2008
Common Stock, no par value
56,570.00
$7.34
  
2/29/2008
Common Stock, no par value
131,260.00
$7.36
  
2/29/2008
Common Stock, no par value
242,390.00
$7.36
  
3/3/2008
Common Stock, no par value
379,366.00
$7.41
  
3/3/2008
Common Stock, no par value
12,650.00
$7.51
  
3/4/2008
Common Stock, no par value
275,584.00
$7.50
  
3/4/2008
Common Stock, no par value
84,570.00
$7.50
  
3/4/2008
Common Stock, no par value
75,460.00
$7.46
  
3/5/2008
Common Stock, no par value
306,250.00
$7.74
  
3/5/2008
Common Stock, no par value
109,930.00
$7.72
  
3/5/2008
Common Stock, no par value
34,350.00
$7.76
  
3/6/2008
Common Stock, no par value
205,310.00
$7.67
  
3/6/2008
Common Stock, no par value
82,929.00
$7.65
  
3/6/2008
Common Stock, no par value
22,900.00
$7.67
  
3/7/2008
Common Stock, no par value
177,370.00
$7.91
  
3/7/2008
Common Stock, no par value
97,390.00
$7.89
  
3/10/2008
Common Stock, no par value
224,056.00
$7.86
  
3/10/2008
Common Stock, no par value
42,940.00
$7.93
  
3/10/2008
Common Stock, no par value
143,140.00
$7.91
  
3/11/2008
Common Stock, no par value
101,340.00
$8.02
  
3/11/2008
Common Stock, no par value
59,142.00
$7.95
  
3/11/2008
Common Stock, no par value
11,450.00
$7.95
  
3/11/2008
Common Stock, no par value
199,154.00
$8.01
  
3/11/2008
Common Stock, no par value
1,218.00
$8.01
  
3/12/2008
Common Stock, no par value
94,010.00
$8.26
  
3/12/2008
Common Stock, no par value
2,860.00
$8.20
  
3/12/2008
Common Stock, no par value
110,834.00
$8.29
  
3/12/2008
Common Stock, no par value
120,893.00
$8.31
  
3/12/2008
Common Stock, no par value
44,200.00
$8.32
  
3/13/2008
Common Stock, no par value
96,639.00
$8.25
  
3/13/2008
Common Stock, no par value
75,121.00
$8.30
  
3/13/2008
Common Stock, no par value
11,450.00
$8.20
  
3/14/2008
Common Stock, no par value
157,661.00
$840
  
3/14/2008
Common Stock, no par value
47,410.00
$8.38
  
3/14/2008
Common Stock, no par value
14,310.00
$8.35
  
3/17/2008
Common Stock, no par value
40,650.00
$8.49
  
3/17/2008
Common Stock, no par value
70,590.00
$8.47
  
3/17/2008
Common Stock, no par value
8,590.00
$8.55
  
3/18/2008
Common Stock, no par value
42,470.00
$8.61
  
3/18/2008
Common Stock, no par value
235,140.00
$8.55
  
3/18/2008
Common Stock, no par value
83,450.00
$8.56
  
3/18/2008
Common Stock, no par value
11,430
$8.51
  
3/19/2008
Common Stock, no par value
174,330
$8.79
  
3/19/2008
Common Stock, no par value
139,084
$8.74
  
3/19/2008
Common Stock, no par value
190,230
$8.83
  
 
3/20/2008
Common Stock, no par value
6,181.00
$8.71
  
 
3/20/2008
Common Stock, no par value
14,290.00
$8.75
  
 
3/20/2008
Common Stock, no par value
14,290.00
$8.75
  
 
3/20/2008
Common Stock, no par value
57,160.00
$8.75
  
 
3/20/2008
Common Stock, no par value
90,770.00
$8.80
  
 
3/20/2008
Common Stock, no par value
14,290.00
$8.81
  
 
3/20/2008
Common Stock, no par value
85,740.00
$8.83
  
 
3/20/2008
Common Stock, no par value
14,290.00
$8.84
  
 
3/20/2008
Common Stock, no par value
28,580.00
$8.84
  
 
3/20/2008
Common Stock, no par value
187,650.00
$8.85
  
 
3/20/2008
Common Stock, no par value
14,290.00
$8.85
  
 
3/20/2008
Common Stock, no par value
103,704.00
$8.85
  
 
3/20/2008
Common Stock, no par value
71,450.00
$8.86
  
 
3/20/2008
Common Stock, no par value
5,720.00
$8.87
  
 
3/20/2008
Common Stock, no par value
18,290.00
$8.88
  
 
3/20/2008
Common Stock, no par value
10,290.00
$8.96
  
 
3/20/2008
Common Stock, no par value
28,580.00
$8.98
  

Transactions – Obrem Capital (QP), L.P.
 
 
Date of Transaction
 
Title of Class
 
Number of Shares Purchased
 
Price Per Share
2/21/2008
Common Stock, no par value
21,710.00
$6.85
    
2/21/2008
Common Stock, no par value
19,540.00
$6.77
    
2/21/2008
Common Stock, no par value
4,340.00
$6.80
    
2/21/2008
Common Stock, no par value
19,540.00
$6.83
    
2/22/2008
Common Stock, no par value
10,860.00
$6.71
    
2/22/2008
Common Stock, no par value
10,860.00
$6.73
    
2/22/2008
Common Stock, no par value
4,340.00
$6.76
    
2/22/2008
Common Stock, no par value
4,340.00
$6.77
    
2/22/2008
Common Stock, no par value
6,510.00
$6.71
    
2/22/2008
Common Stock, no par value
10,860.00
$6.71
    
2/22/2008
Common Stock, no par value
10,860.00
$6.70
    
2/22/2008
Common Stock, no par value
10,860.00
$6.69
    
2/25/2008
Common Stock, no par value
5,690.00
$6.67
    
2/25/2008
Common Stock, no par value
4,340.00
$6.87
    
2/25/2008
Common Stock, no par value
4,340.00
$6.86
    
2/25/2008
Common Stock, no par value
4,340.00
$6.91
    
2/25/2008
Common Stock, no par value
4,340.00
$6.80
    
2/25/2008
Common Stock, no par value
4,340.00
$6.77
    
2/25/2008
Common Stock, no par value
4,340.00
$6.79
    
2/25/2008
Common Stock, no par value
4,340.00
$6.78
    
2/25/2008
Common Stock, no par value
4,340.00
$6.79
    
2/25/2008
Common Stock, no par value
4,340.00
$6.83
    
2/25/2008
Common Stock, no par value
10,860.00
$6.93
    
2/25/2008
Common Stock, no par value
4,340.00
$6.95
    
2/26/2008
Common Stock, no par value
4,340.00
$7.03
    
2/26/2008
Common Stock, no par value
4,340.00
$7.08
    
2/27/2008
Common Stock, no par value
5,820.00
$7.21
    
2/27/2008
Common Stock, no par value
4,340.00
$7.17
    
2/28/2008
Common Stock, no par value
162,630.00
$7.34
    
2/28/2008
Common Stock, no par value
43,430.00
$7.34
    
2/29/2008
Common Stock, no par value
100,740.00
$7.36
    
2/29/2008
Common Stock, no par value
186,050.00
$7.36
    
3/3/2008
Common Stock, no par value
283,240.00
$7.41
    
3/3/2008
Common Stock, no par value
9,450.00
$7.51
    
3/4/2008
Common Stock, no par value
205,750.00
$7.50
    
3/4/2008
Common Stock, no par value
63,130.00
$7.50
    
3/4/2008
Common Stock, no par value
56,340.00
$7.46
    
3/5/2008
Common Stock, no par value
228,650.00
$7.74
    
3/5/2008
Common Stock, no par value
82,070.00
$7.72
    
3/5/2008
Common Stock, no par value
25,650.00
$7.76
    
3/6/2008
Common Stock, no par value
153,290.00
$7.67
    
3/6/2008
Common Stock, no par value
61,910.00
$7.65
    
3/6/2008
Common Stock, no par value
17,100.00
$7.67
    
3/7/2008
Common Stock, no par value
132,430.00
$7.91
    
3/7/2008
Common Stock, no par value
72,710.00
$7.89
    
3/10/2008
Common Stock, no par value
167,280.00
$7.86
    
3/10/2008
Common Stock, no par value
32,060.00
$7.93
    
3/10/2008
Common Stock, no par value
106,860.00
$7.91
    
3/11/2008
Common Stock, no par value
75,660.00
$8.02
    
3/11/2008
Common Stock, no par value
44,160.00
$7.95
    
3/11/2008
Common Stock, no par value
8,550.00
$7.95
    
3/11/2008
Common Stock, no par value
149,628.00
$8.01
    
3/12/2008
Common Stock, no par value
82,740.00
$8.29
    
3/12/2008
Common Stock, no par value
90,260.00
$8.31
    
3/12/2008
Common Stock, no par value
33,000.00
$8.32
    
3/12/2008
Common Stock, no par value
2,140.00
$8.20
    
3/12/2008
Common Stock, no par value
70,190.00
$8.26
    
3/13/2008
Common Stock, no par value
72,160.00
$8.25
    
3/13/2008
Common Stock, no par value
56,080.00
$8.30
    
3/13/2008
Common Stock, no par value
8,550.00
$8.20
    
3/14/2008
Common Stock, no par value
117,710.00
$8.400
    
3/14/2008
Common Stock, no par value
35,390.00
$8.38
    
3/14/2008
Common Stock, no par value
10,690.00
$8.35
    
3/17/2008
Common Stock, no par value
30,350.00
$8.50
    
3/17/2008
Common Stock, no par value
52,710.00
$8.47
    
3/17/2008
Common Stock, no par value
6,410.00
$8.55
    
3/18/2008
Common Stock, no par value
31,830.00
$8.61
    
3/18/2008
Common Stock, no par value
176,260.00
$8.55
    
3/18/2008
Common Stock, no par value
62,550.00
$8.56
    
3/18/2008
Common Stock, no par value
8,570
$8.51
    
3/19/2008
Common Stock, no par value
130,670
$8.79
    
3/19/2008
Common Stock, no par value
104,250
$8.74
    
3/19/2008
Common Stock, no par value
142,590
$8.83
    
3/20/2008
Common Stock, no par value
4,630.00
$8.71
    
3/20/2008
Common Stock, no par value
10,710.00
$8.75
    
3/20/2008
Common Stock, no par value
10,710.00
$8.75
    
3/20/2008
Common Stock, no par value
42,840.00
$8.75
    
3/20/2008
Common Stock, no par value
68,030.00
$8.80
    
3/20/2008
Common Stock, no par value
10,710.00
$8.81
    
3/20/2008
Common Stock, no par value
64,260.00
$8.83
    
3/20/2008
Common Stock, no par value
10,710.00
$8.84
    
3/20/2008
Common Stock, no par value
21,420.00
$8.84
    
3/20/2008
Common Stock, no par value
140,650.00
$8.85
    
3/20/2008
Common Stock, no par value
10,710.00
$8.85
    
3/20/2008
Common Stock, no par value
77,750.00
$8.85
    
3/20/2008
Common Stock, no par value
53,550.00
$8.86
    
3/20/2008
Common Stock, no par value
4,280.00
$8.87
    
3/20/2008
Common Stock, no par value
13,710.00
$8.88
    
3/20/2008
Common Stock, no par value
7,710.00
$8.96
    
3/20/2008
Common Stock, no par value
21,420.00
$8.98
    
           

SK 25940 0001 866737


 -----END PRIVACY-ENHANCED MESSAGE-----