Key facts
- This page summarizes Barry Kostiner's Form 4 filing for Legacy Education Alliance, Inc..
- 1 reported transaction and 1 derivative row are listed below.
- Accepted by SEC: 21 Mar 2023, 17:57.
Barry Kostiner - 17 Mar 2023 Form 4 Insider Report for Legacy Education Alliance, Inc.
- Reporting relationship
- Chief Executive Officer, Director
- Issuer ticker
- N/A
- Reported as of
- 17 Mar 2023
- Net transaction value
- $0
- SEC form
- 4
- Accepted by SEC
- 21 Mar 2023, 17:57:15 UTC
- Prior SEC filing
- 24 Mar 2023
- Source filing
- View source filing
- Reporting owner signature
- /s/ Barry Kostiner
Source evidence
Original filing metadata and source links for verification.
4 source fields
Reporting owner
1 detail
Key filing fact
Barry Kostiner filed Form 4 for Legacy Education Alliance, Inc. on 21 Mar 2023.
Change
- Previous filing in this sequence was filed on 24 Mar 2023.
- Current net transaction value: $0.
Research use
- This tells you what this filing adds before you inspect full transaction and derivative tables.
- You can trace every row back to the original SEC filing document.
Evidence
Filed on Form 4
View source filing
Ownership activity is grounded in SEC Form 4 disclosures.
Reported derivative securities
Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.
LEAI
transaction
Derivative
10% Convertible Debenture due March 21, 2024
Purchase
- Transaction value
- Shares
- +1
- Change %
- Price
- Shares after
- 1
- Date
- 17 Mar 2023
- Ownership
- See footnote
- Underlying class
- Common Stock and Warrants
- Underlying amount
- Exercise price
- $0.0500
- Footnotes
- F1, F2, F3, F4
* marks a reported price that did not pass the local price check.
Additional SEC filing notes
Filing notes and footnotes
Explanation of responses 4 footnotes
Footnote F1
The Debenture is held by ABCImpact I, LLC, a Delaware limited liability company ("ABCImpact"), as lender, and may be converted into shares of Issuer common stock, par value $0.0001 per share, at a conversion price per share of $0.05, plus an equal number of common stock purchase warrants which may be exercisable at a price of $0.05 per share. ABCImpact has the right to loan up to an aggregate sum of $5,000,000 to the Issuer, which would be subject to the same conversion features.
Footnote F2
On the transaction date, March 17, 2023, ABCImpact loaned $50,000 to the Issuer under the Debenture and accordingly, may be converted into 1,000,000 shares of common stock and 1,000,000 common stock purchase warrants (excluding accrued interest).
Footnote F3
The Debenture is subject to a beneficial ownership limitation of 4.99%, or 9.99% in ABCImpact's discretion. The Debenture is one of a series of debentures with substantially similar terms (other than issue date and maturity date) as between the Issuer and ABCImpact and that may continue to be entered into in the future.
Footnote F4
The Reporting Person, a director and the Chief Executive Officer of the Issuer, has an indirect beneficial ownership in the Debenture (and accordingly the underlying common stock and common stock purchase warrants) through the Reporting Person's spouse, Kimberly Kostiner who is the Trustee of The Kostiner Family Trust ("Trust"), which Trust holds a 33.33% non-voting membership interest in ABCImpact. Neither the Reporting Person nor the Reporting Person's spouse has any voting or dispositive control over the Debenture or the underlying securities, or has any managerial control over ABCImpact. The Reporting Person disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.