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
WESTERN SIZZLIN CORP [ WSZZ ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 11/17/2006 | ||||||||||||||||||||||||||
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 | ||||||
Common Stock, $.01 par value | 11/17/2006 | P | 75,000 | A | $8.52 | 364,127(1) | D | |||
Common Stock, $.01 par value | 11/17/2006 | P | 0 | A | $0 | 364,127(2) | I | By The Lion Fund, L.P. | ||
Common Stock, $.01 par value | 11/20/2006 | X | 88,450 | A | (4) | 452,577(1) | D | |||
Common Stock, $.01 par value | 11/20/2006 | X | 0 | A | $0 | 452,577(2) | I | By The Lion Fund, L.P. | ||
Common Stock, $.01 par value | 11/20/2006 | X | 56,113 | A | (4) | 508,690(1) | D | |||
Common Stock, $.01 par value | 11/20/2006 | X | 0 | A | $0 | 508,690(2) | I | By The Lion Fund, L.P. |
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 | ||||||||
Stock Option (Right to Buy) | $0.92 | 06/20/2006 | 06/20/2011 | Common Stock | 10,000 | 2,000(5) | D(6) | ||||||||
Rights(3) | (4) | 11/17/2006 | P | 75,000 | 11/07/2006 | 12/08/2006 | Common Stock | 75,000 | $0.77 | 364,127(1) | D(7) | ||||
Rights(3) | (4) | 11/17/2006 | P | 0 | 11/07/2006 | 12/08/2006 | Common Stock | 0 | $0 | 364,127(2) | I | By The Lion Fund, L.P. | |||
Rights(3) | (4) | 11/20/2006 | X | 176,900 | 11/07/2006 | 12/08/2006 | Common Stock | 176,900 | $0 | 187,227(1) | D | ||||
Rights(3) | (4) | 11/20/2006 | X | 0 | 11/07/2006 | 12/08/2006 | Common Stock | 0 | $0 | 187,227(2) | I | By The Lion Fund, L.P. | |||
Rights(3) | (4) | 11/20/2006 | X | 112,227 | 11/07/2006 | 12/08/2006 | Common Stock | 112,227 | $0 | 75,000(1) | D | ||||
Rights(3) | (4) | 11/20/2006 | X | 0 | 11/07/2006 | 12/08/2006 | Common Stock | 0 | $0 | 75,000(2) | I | By The Lion Fund, L.P. |
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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1. Name and Address of Reporting Person*
(Street)
Relationship of Reporting Person(s) to Issuer
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Explanation of Responses: |
1. These securities are owned by The Lion Fund, L.P., which is a Reporting Person. |
2. The securities may be deemed to be beneficially owned by Biglari Capital Corp. ("BCC"), the general partner of The Lion Fund, L.P. and Sardar Biglari, the Chairman and Chief Executive Officer of BCC. Sardar Biglari and BCC each disclaim beneficial ownership in the securities reported on this Form 4 except to the extent of their pecuniary interest, if any, therein, and this report shall not be deemed to be an admission that either Sardar Biglari or Biglari Capital Corp. are the beneficial owners of such securities for purposes of Section 16 or for any other purpose. |
3. On November 13, 2006, the Issuer made a pro-rata distribution of rights (the "Rights") to the shareholders of record on November 9, 2006. |
4. The exercise price of the Rights is $7.00. Every two Rights entitles the shareholder to purchase one share. |
5. On August 10, 2006, the Issuer effected a 1 for 10 reverse stock split. |
6. These securities are owned by Sardar Biglari. |
7. These securities are owned by The Lion Fund, L.P. |
The Lion Fund, L.P., By: Biglari Capital Corp., its general partner, By: /s/ Sardar Biglari, its Chairman and Chief Executive Officer | 11/21/2006 | |
Biglari Capital Corp., By: /s/ Sardar Biglari, its Chairman and Chief Executive Officer | 11/21/2006 | |
/s/ Sardar Biglari | 11/21/2006 | |
** 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. |