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Filing Details

Accession Number:: 0000921895-14-001299
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2014-05-23 22:36:17
Reporting Period:: 2014-05-23

Filing Date:: 2014-05-23
Accepted Time:: 2014-05-23 21:36:17
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
922521	Falconstor Software Inc	FALC	Services-Prepackaged Software (7372)	770216135

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1022123	Barry Rubenstein	C/O Falconstor Software, Inc. 2 Huntington Quadrangle Melville NY 11747		Yes	No	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Disposition	2014-05-23	100,000	$1.48	436,800	No	4	S	Indirect	By Woodland Venture Fund
Common Stock	Disposition	2014-05-23	47,015	$1.54	131,323	No	4	S	Indirect	By Seneca Ventures

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Indirect	By Woodland Venture Fund
No	4	S	Indirect	By Seneca Ventures

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	971,000	Direct
Common Stock	957,257	Indirect	By Woodland Partners
Common Stock	187,900	Indirect	By Brookwood Partners, L.P.
Common Stock	1,258	Indirect	By Spouse

Footnotes

Includes 100,000 shares held jointly by Barry Rubenstein and Marilyn Rubenstein (spouse).
Held by Woodland Venture Fund. Mr. Rubenstein is a general partner of Woodland Venture Fund. Mr. Rubenstein disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein.
Held by Seneca Ventures. Mr. Rubenstein is a general partner of Seneca Ventures. Mr. Rubenstein disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein.
Held by Woodland Partners. Mr. Rubenstein is a general partner of Woodland Partners. Mr. Rubenstein disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein.
Held by Brookwood Partners, L.P. Mr. Rubenstein is a general partner of Brookwood Partners, L.P. Mr. Rubenstein disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein.
The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.45 to $1.53, inclusive. The reporting person undertakes to provide the Issuer and any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, further information regarding the number of shares sold at each separate price such shares were sold.
The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $1.53 to $1.59, inclusive. The reporting person undertakes to provide the Issuer and any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, further information regarding the number of shares sold at each separate price such shares were sold.
There were purchases by Woodland Venture Fund and Seneca Ventures of an aggregate of 60,315 shares on May 19, 2014 at a price range between $1.47 and $1.51, inclusive, that have been matched against sales on May 23, 2014 by Woodland Venture Fund and Seneca Ventures to the extent of an aggregate of 60,315 shares at a price range between $1.52 and $1.59, inclusive. The aforementioned purchase price constitutes the lowest purchase price paid by the reporting person matched against the highest sale price that the reporting person received for the sale of shares on the date hereof. The reporting person has agreed to pay to Falconstor Software, Inc. $2,133.58, representing the full amount of the profit realized in connection with the short-swing transaction.