Filing Details

Accession Number:
0001025953-15-000162
Form Type:
4
Zero Holdings:
No
Publication Time:
2015-10-29 15:05:52
Reporting Period:
2015-10-27
Filing Date:
2015-10-29
Accepted Time:
2015-10-29 15:05:52
SEC Url:
Form 4 Filing
Issuer
Cik Name Symbol Sector (SIC) IRS No
1025953 Novation Companies Inc. NOVC Real Estate Agents & Managers (For Others) (6531) 742830661
Insiders
Cik Name Reported Address Insider Title Director Officer Large Shareholder Other
1548312 E. Jeffrey Eberwein 53 Forest Avenue, 1St Floor
Old Greenwich CT 06870
Yes No No No
Reported Non-Derivative Transactions
Sec. Name Acquisiton - Disposition Date Amount Price Remaning Holdings Equity Swap Involved Form Type Code Nature of Ownership Explanation
Common Stock Acquisiton 2015-10-27 8,877 $0.30 2,852,963 No 4 P Indirect By Lone Star Value Investors, LP
Common Stock Acquisiton 2015-10-27 987 $0.30 248,002 No 4 P Indirect By Separately Managed Account
Equity Swap Involved Form Type Code Nature of Ownership Explanation
No 4 P Indirect By Lone Star Value Investors, LP
No 4 P Indirect By Separately Managed Account
Reported Non-Derivative Holdings
Sec. Name Remaning Holdings Nature of Ownership Explanation
Common Stock 192,308 Direct
Footnotes
  1. The purchases of shares reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan entered into by Lone Star Value Management, LLC on behalf of Lone Star Value Investors, LP and similarly managed funds and accounts on May 13, 2015.
  2. The price reported is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $0.2989 to $0.2990. The reporting person undertakes to provide the Securities and Exchange Commission, upon request, further information regarding the number of shares purchased at each separate price such shares were purchased.
  3. Shares owned directly by Lone Star Value Investors, LP ("Lone Star Value Investors"). Mr. Eberwein, solely by virtue of his position as the manager of Lone Star Value Investors GP, LLC, the general partner of Lone Star Value Investors, and as the sole member of Lone Star Value Management, LLC ("Lone Star Value Management"), the investment manager of Lone Star Value Investors, may be deemed to beneficially own the shares owned directly by Lone Star Value Investors for purposes of Section 16. Mr. Eberwein expressly disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
  4. Shares held in an account separately managed by Lone Star Value Management (the "Separately Managed Account I"). Lone Star Value Management, as the investment manager of the Separately Managed Account I, may be deemed to beneficially own the shares of Common Stock held in the Separately Managed Account I; and Jeffrey Eberwein, as the sole member of Lone Star Value Management may be deemed to beneficially own the shares of Common Stock held in the Separately Managed Account I for purposes of Section 16. Mr. Eberwein expressly disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein. The reporting person undertakes to provide the Securities and Exchange Commission, upon request, the underlying identity of the separately managed account.
  5. Represents restricted stock awarded under the Novation Companies, Inc. 2015 Incentive Stock Plan. These restricted stock awards shall vest on August 10, 2016.