0000897069-23-001418.txt : 20231003
0000897069-23-001418.hdr.sgml : 20231003
20231003170937
ACCESSION NUMBER: 0000897069-23-001418
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20230930
FILED AS OF DATE: 20231003
DATE AS OF CHANGE: 20231003
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Swenson Nicholas John
CENTRAL INDEX KEY: 0001478067
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-13471
FILM NUMBER: 231305224
MAIL ADDRESS:
STREET 1: 5000 WEST 36TH STREET
STREET 2: SUITE 130
CITY: MINNEAPOLIS
STATE: MN
ZIP: 55416
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: LENDWAY, INC.
CENTRAL INDEX KEY: 0000875355
STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-ADVERTISING [7310]
IRS NUMBER: 411656308
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 5000 WEST 36TH STREET
STREET 2: SUITE 220
CITY: MINNEAPOLIS
STATE: MN
ZIP: 55416
BUSINESS PHONE: 7633926200
MAIL ADDRESS:
STREET 1: 5000 WEST 36TH STREET
STREET 2: SUITE 220
CITY: MINNEAPOLIS
STATE: MN
ZIP: 55416
FORMER COMPANY:
FORMER CONFORMED NAME: INSIGNIA SYSTEMS INC/MN
DATE OF NAME CHANGE: 19930328
4
1
form4.xml
X0508
4
2023-09-30
0000875355
LENDWAY, INC.
LDWY
0001478067
Swenson Nicholas John
5000 WEST 36TH STREET
SUITE 130
MINNEAPOLIS
MN
55416
true
true
false
Common Stock
3300
D
Common Stock
139444
I
AO Partners I, L.P.
Common Stock
60284
I
Groveland Capital LLC
Common Stock
11428
I
Glenhurst Co.
Common Stock Equivalent
2023-09-30
4
A
0
950
5.35
A
Common Stock
950
2081
D
Each of the parties herein may be deemed to be a member of a Section 13(d) group disclosed in a Schedule 13D filed on behalf of the parties and Air T, Inc., the other member of such group. The members of this Section 13(d) group collectively own more than 10% of the Issuer's outstanding shares of Common Stock. Each of the parties disclaims beneficial ownership of the shares of Common Stock held by the other members of this Section 13(d) group except to the extent of his or its pecuniary interest therein. The securities reported herein do not include any securities held by Air T, Inc., as such shares are reported in a separate filing.
Note the following with regard to Groveland Capital LLC ("Groveland Capital"); AO Partners I, L.P. ("AO Partners Fund"); AO Partners, LLC, the General Partner to the AO Partners Fund ("AO Partners"); and Glenhurst Co. ("Glenhurst"): Mr. Swenson is the Managing Member of Groveland Capital and may direct Groveland Capital as to the vote and disposition of the shares of Common Stock it holds; Mr. Swenson is the Managing Member of AO Partners, the General Partner of AO Partners Fund, and has the power to direct the affairs of AO Partners Fund, including the voting and disposition of shares of Common Stock held in the name of AO Partners Fund; and Mr. Swenson is the sole owner of Glenhurst, and he has the power to direct the affairs of Glenhurst, including the voting and disposition of shares of Common Stock held in the name of Glenhurst.
Each Common Stock Equivalent is the economic equivalent of one share of Lendway, Inc. common stock. The Common Stock Equivalents were acquired pursuant to the Lendway, Inc. Deferred Compensation Plan for Directors (the "Plan"), whereby Directors may elect to defer receipt of cash fees. The Common Stock Equivalents will be settled (i) in Lendway, Inc. common stock upon a separation from service with the Company or (ii) in cash upon an earlier change in control of the Company.
/s/ Nicholas J. Swenson
2023-10-03