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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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*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
RCN CORP /DE/ [ RCNC ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 12/31/2003 | ||||||||||||||||||||||||||
4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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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) | 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 | ||||||
Class B Common Stock, $1 par value | 12/31/2003 | C | 11,404,898(1) | A | $61.86(1) | 11,404,898(1) | D(3) | |||
Class B Common Stock, $1 par value | 12/31/2003 | S | 11,404,898(1) | D | (2) | 0 | D(3) |
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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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 | ||||||||
Series B 7% Senior Convertible Preferred Stock | $61.86(1) | 12/31/2003 | C | 705,507 | 02/28/2000 | (4) | Common Stock | 11,404,898(1) | (1) | 1,411,196 | D(3) | ||||
Series B 7% Senior Convertible Preferred Stock | $61.86(1) | 12/31/2003 | S | 247,009 | 02/28/2000 | (4) | Common Stock | 3,993,032(1) | (2) | 1,164,187 | D(3) |
1. Name and Address of Reporting Person*
(Street)
Relationship of Reporting Person(s) to Issuer
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1. Name and Address of Reporting Person*
(Street)
Relationship of Reporting Person(s) to Issuer
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Explanation of Responses: |
1. The conversion price of the Preferred Stock reported herein is based on the $61.86 conversion price reported by the Issuer in its Annual Report on Form 10-K for the year ended December 31, 2002, although the actual conversion price may have changed since that date. The number of shares of the Issuer's Common Stock underlying shares of Preferred Stock is an estimate based on such reported conversion price, and the $1,000 per share liquidation preference of each share of Preferred Stock. |
2. 247,009 shares of Preferred Stock, and the number of shares of the Issuer's Class B Common Stock resulting from the conversion of 705,507 shares of Preferred Stock applying the conversion price in effect on December 31, 2003, were sold in a single transaction for an aggregate price of $2,000,000. |
3. The reported securities are directly owned by Vulcan Ventures Incorporated. Paul G. Allen is the sole shareholder of Vulcan Ventures Incorporated and may be deemed to have shared voting and dispositive power with respect to such shares. |
4. The Preferred Stock will be mandatorily converted into Common Stock or Class B Common Stock on February 28, 2007 if it has not already been converted before that date. |
Joseph D. Franzi, VP of Vulcan Ventures Inc., & Attorney-in-Fact for Paul G. Allen pursuant to a Power of Attorney filed on Aug. 30, 1999, with the Sch. 13G of Vulcan Ventures Inc. & Paul G. Allen for Pathogenesis, Inc. & incorporated herein by reference | 01/05/2004 | |
** 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). | ||
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
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 Number. |