Filing Details

Accession Number:
0001567619-19-017549
Form Type:
4
Zero Holdings:
No
Publication Time:
2019-08-23 19:13:52
Reporting Period:
2019-08-21
Accepted Time:
2019-08-23 19:13:52
SEC Url:
Form 4 Filing
Issuer
Cik Name Symbol Sector (SIC) IRS No
1378950 U.s. Auto Parts Network Inc. PRTS Retail-Auto & Home Supply Stores (5531) 680623433
Insiders
Cik Name Reported Address Insider Title Director Officer Large Shareholder Other
1681614 Kanen Wealth Management Llc 5850 Coral Ridge Drive
Suite 309
Coral Springs FL 33076
No No Yes No
1681743 David Kanen 5850 Coral Ridge Drive
Suite 309
Coral Springs FL 33076
Yes No Yes No
1688522 Philotimo Fund, Lp 5850 Coral Ridge Drive, Suite 309
Coral Springs FL 33076
No No Yes 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 Disposition 2019-08-21 371,704 $1.19 2,824,091 No 4 J Indirect Kanen Wealth management LLC
Common Stock Acquisiton 2019-08-22 15,690 $1.26 2,839,781 No 4 P Indirect Kanen Wealth Management LLC
Equity Swap Involved Form Type Code Nature of Ownership Explanation
No 4 J Indirect Kanen Wealth management LLC
No 4 P Indirect Kanen Wealth Management LLC
Reported Non-Derivative Holdings
Sec. Name Remaning Holdings Nature of Ownership Explanation
Common Stock 173,514 Direct
Common Stock 1,605,928 Indirect The Philotimo Fund
Footnotes
  1. This Form 4 is filed jointly by David Kanen, Kanen Wealth Management, LLC ("KWM") and the Philotimo Fund, LP (collectively, the "Reporting Persons"). Each of the Reporting Persons may be deemed to be a member of a group that may be deemed to collectively beneficially own more than 10% of the Issuer's outstanding shares of Common Stock. The filing of this Form 4 shall not be deemed an admission that the Reporting Persons are, for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, the beneficial owners of any securities of the Issuer he or it does not directly own.
  2. Mr. Kanen beneficially owns, pursuant to the beneficial ownership rules of Section 13(d) of the Securities Exchange Act of 1934, as amended, the shares of Common Stock listed in Column 4 of this Form 4, which represent approximately 14% of the Issuer's outstanding shares of Common Stock. Pursuant to such beneficial ownership rules, Mr. Kanen, as the managing member of KWM, may be deemed to beneficially own the shares of Common Stock held in customer accounts managed by KWM as disclosed in this Form 4 (including the 173,514 shares held in Mr. Kanen's account) and the 1,605,928 shares of Common Stock held by The Philotimo Fund LLC, of which KWM is the general partner. Mr. Kanen expressly disclaims such beneficial ownership except to the extent of his pecuniary interest therein. Mr. Kanen does not have a pecuniary interest under Section 16 of the Exchange Act in the shares of Common Stock held in customer accounts managed by KWM other than the 173,514 shares held in Mr. Kanen's Account.
  3. On August 21, 2019, KWM sold shares of Common Stock in a liquidation at the direction of the client. Neither KWM, The Philotimo Fund, LP nor Mr. Kanen has any pecuniary interest in these shares. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1.18 to $1.21, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
  4. KWM does not have a pecuniary interest in the shares of Common Stock held in customer accounts managed by KWM. The number reflected above excludes 173,514 shares held in Mr. Kanen's account as described in footnote 2 above.
  5. On August 22, 2019, KWM purchased shares of Common Stock for managed client accounts. The price reported in Column 4 is a weighted average price. The Reporting Persons undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.