-----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, FJqmZJOyscP35C4n90RN3tGXZhNkmaw4Pe8Dn89DBgcZs5i+UYUXTExIDHCDqoPx 82IrQJPMqIBbDHHt5h+9uA== 0000922423-03-000011.txt : 20030103 0000922423-03-000011.hdr.sgml : 20030103 20030103142539 ACCESSION NUMBER: 0000922423-03-000011 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20030102 FILED AS OF DATE: 20030103 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: DIRECT INSITE CORP CENTRAL INDEX KEY: 0000879703 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN [7373] IRS NUMBER: 112895590 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-20660 FILM NUMBER: 03502621 BUSINESS ADDRESS: STREET 1: 80 ORVILLE DR CITY: BOHEMIA STATE: NY ZIP: 11716 BUSINESS PHONE: 5162441500 MAIL ADDRESS: STREET 1: 80 ORVILLE DRIVE CITY: BOHEMIA STATE: NY ZIP: 11716 FORMER COMPANY: FORMER CONFORMED NAME: COMPUTER CONCEPTS CORP /DE DATE OF NAME CHANGE: 19930328 REPORTING-OWNER: COMPANY DATA: COMPANY CONFORMED NAME: YUNICH PETER B CENTRAL INDEX KEY: 0001197006 RELATIONSHIP: DIRECTOR FILING VALUES: FORM TYPE: 4 BUSINESS ADDRESS: STREET 1: C/O METROPOLITAN VENTURE PARTNERS STREET 2: 257 PARK AVE. SOUTH 15TH FL CITY: NEW YORK STATE: NY ZIP: 10010 BUSINESS PHONE: 2128443675 MAIL ADDRESS: STREET 1: C/O METROPOLITAN VENTURE PARTNERS STREET 2: 257 PARK AVE. SOUTH 15TH FL CITY: NEW YORK STATE: NY ZIP: 10010 4 1 kl01004_form4.txt FORM 4 -------------------------- OMB APPROVAL -------------------------- OMB Number.......3235-0287 Expires: January 31, 2005 Estimated average burden hours per response.....0.5 -------------------------- U.S. SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 4 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP 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 [_] Check box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). (Print or Type Responses) - -------------------------------------------------------------------------------- 1. Name and Address of Reporting Person* Yunich, Peter B. - -------------------------------------------------------------------------------- (Last) (First) (Middle) c/o Metropolitan Venture Partners 257 Park Avenue South, 15th Floor - -------------------------------------------------------------------------------- (Street) New York, NY 10010 - -------------------------------------------------------------------------------- (City) (State) (Zip) - -------------------------------------------------------------------------------- 2. Issuer Name and Ticker or Trading Symbol Direct Insite Corp. ("DIRI") - -------------------------------------------------------------------------------- 3. IRS Identification Number of Reporting Person, if an Entity (Voluntary) - -------------------------------------------------------------------------------- 4. Statement for Month/Day/Year January 2, 2003 - -------------------------------------------------------------------------------- 5. If Amendment, Date of Original (Month/Day/Year) - -------------------------------------------------------------------------------- 6. Relationship of Reporting Person(s) to Issuer (Check all applicable) [x] Director [ ] 10% Owner [ ] Officer (give title below) [_] Other (specify below) - -------------------------------------------------------------------------------- 7. Individual or Joint/Group Filing (Check applicable line) [x] Form filed by One Reporting Person [ ] Form filed by More Than One Reporting Person - -------------------------------------------------------------------------------- ================================================================================ Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned ================================================================================
5. 6. 2A. 4. Amount of Owner- Deemed Securities Acquired (A) or Securities ship 2. Execution 3. Disposed of (D) Beneficially Form: 7. Transaction Date, Transaction (Instr. 3, 4 and 5) Owned Following Direct Nature of Date if any Code ------------------------------ Reported (D) or Indirect 1. (Month/ (Month/ (Instr. 8) (A) Transaction(s) Indirect Beneficial Title of Security Day/ Day/ ------------ Amount or Price (Instr. 3 (I) Ownership (Instr. 3) Year) Year) Code V (D) and 4) (Instr. 4)(Instr. 4) - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------
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). (Over) SEC 1474 (9-02) FORM 4 (continued) Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) ================================================================================
9. 10. Number Owner- of ship Deriv- Form 2. ative of Conver- 5. 7. Secur- Deriv- 11. sion Number of Title and Amount ities ative Nature or 3A. Derivative 6. of Underlying 8. Bene- Secur- of Exer- Deemed 4. Securities Date Securities Price ficially ity: In- cise 3. Execu- Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of Owned Direct direct Price Trans- tion - action or Disposed Expiration Date ---------------- Deriv- Following (D) or Bene- 1. of action Date, Code of(D) (Month/Day/Year) Amount ative Reported In- ficial Title of Deriv- Date if any (Instr. (Instr. 3, ---------------- or Secur- Trans- direct Owner- Derivative ative (Month/ (Month/ 8) 4, and 5) Date Expira- Number ity action(s) (I) ship Security Secur- Day/ Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr. (Instr. 3) ity Year) Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4) - ------------------------------------------------------------------------------------------------------------------------------------ Series A Convertible Preferred Stock, par value $0.0001 per Common See share $2.14(1) 1/2/03 P A 23,365 1/2/03 n/a Stock 233,650 $21.40(1) 116,823 I(2) Note. 2 - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------
Explanation of Responses: 1. The reported number of shares of Common Stock underlying the Series A Convertible Preferred Stock reflects the initial conversion rate of 1-for-10 (the ratio of the current liquidation value of the Series A Convertible Preferred Stock of $21.40, to the current conversion price of $2.14) pursuant to the terms of the Series A Convertible Preferred Stock. 2. Metropolitan Venture Partners II, L.P. ("MetVP") is the direct owner of an aggregate of 116,823 shares of Series A Convertible Preferred Stock, par value $0.0001 per share, of Direct Insite Corp. (the "Issuer"), including the shares acquired pursuant to the transaction pursuant to which this Form 4 is being filed, which are convertible as of the date of this statement into 1,168,230 shares of Common Stock, par value $0.0001 per share of the Issuer (the "Shares"). The Reporting Person is a Managing Partner of MetVP as well as a limited partner of MetVP. In addition, the Reporting Person is a limited partner in Metropolitan Venture Partners (Advisors), L.P. ("MetVP Advisors"), which is the general partner of MetVP and is on the board of directors and is a shareholder in Metropolitan Venture Partners Corp., which is the general partner of MetVP Advisors. As a result of the foregoing, the Reporting Person may be deemed to own beneficially and indirectly the Shares. The Reporting Person disclaims beneficial ownership of the Shares except to the extent of his pecuniary interest therein. By: /s/ Peter B. Yunich --------------------------- ** Peter B. Yunich January 2, 2003 --------------- Date ** 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 provided is insufficient, see Instruction 6 for procedure. Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. Page 2 -----END PRIVACY-ENHANCED MESSAGE-----