Form Type: 4

SEC EDGAR Link
Accession Number:0001025953-15-000066
Date:2015-07-24
Issuer: NOVATION COMPANIES, INC. (NOVC)
Original Submission Date:

Reporting Person:

EBERWEIN JEFFREY E.
53 FOREST AVENUE, 1ST FLOOR
OLD GREENWICH, CT 06870

Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
Title of SecurityTransaction Date2a. Deemed Execution Date Transaction CodeSharesAcquired or DisposedPrice per share 5. Amount of Securities Beneficially Owned Following Reported Transaction 6. Ownership Form Direct or IndirectNature of Indirect Ownership
COMMON STOCK 2015-07-24 P 22,500 a $0.30 1,394,366 indirect f3
COMMON STOCK 2015-07-24 P 2,500 a $0.30 82,599 indirect f4
COMMON STOCK 2015-07-27 P 22,500 a $0.30 1,416,866 indirect f3
COMMON STOCK 2015-07-27 P 2,500 a $0.30 85,099 indirect f4
Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, convertible securities
Title of Derivative Security Conversion or Exercise Price of Derivative Security Transaction Date Deemed Execution Date Transaction Code Number of Derivative Securities Acquired (A) or Disposed of (D) Date ExercisableExpiration Date Title and Amount of Securities Underlying Derivative Security Price of Derivative Security Number of derivative Securities Beneficially Owned Following Reported Transaction(s) Ownership Form: Direct (D) or Indirect (I) Nature of Indirect Beneficial Ownership
Footnotes
IDfootnote
f1 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.
f2 the price reported is a weighted average price. these shares were purchased in multiple transactions at $0.295.
f3 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.
f4 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.
f5 the price reported is a weighted average price. these shares were purchased in multiple transactions at prices ranging from $0.2989 to $0.30. 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.
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