FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
OMB APPROVAL
OMB Number: 3235-0287
Expires: February 28, 2011
Estimated average burden
hours per response...
0.5
                      
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Kramer Michael R
2. Issuer Name and Ticker or Trading Symbol

ATS MEDICAL INC [ ATSI ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
Chief Financial Officer
(Last)          (First)          (Middle)

3905 ANNAPOLIS LANE
3. Date of Earliest Transaction (MM/DD/YYYY)

8/12/2010
(Street)

PLYMOUTH, MN 55447
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock   8/12/2010     D    101054   D   (1) 0   D    

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Restricted Stock Units     (2) 8/12/2010     D         8000   (3)   10/2/2007   (4) 10/2/2011   (5) Common Stock   8000   $4.00   0   D    
Restricted Stock Units     (2) 8/12/2010     D         8000   (3)   2/13/2008   (4) 2/13/2012   (5) Common Stock   8000   $4.00   0   D    
Restricted Stock Units     (2) 8/12/2010     D         10418   (3)   3/15/2008   (4) 3/15/2012   (5) Common Stock   10418   $4.00   0   D    
Restricted Stock Units     (2) 8/12/2010     D         20000   (3)   8/1/2008   (4) 8/1/2012   (5) Common Stock   20000   $4.00   0   D    
Restricted Stock Units     (2) 8/12/2010     D         52577   (3)   3/15/2009   (4) 3/15/2013   (5) Common Stock   52577   $4.00   0   D    
Restricted Stock Units     (2) 8/12/2010     D         30000   (3)   7/30/2009   (6) 7/30/2013   (6) Common Stock   30000   $4.00   0   D    
Restricted Stock Units     (2) 8/12/2010     D         52852   (3)   3/15/2010   (4) 3/15/2014   (5) Common Stock   52852   $4.00   0   D    
Restricted Stock Units     (2) 8/12/2010     D         53410   (3)   3/1/2011   (4) 3/1/2015   (5) Common Stock   53410   $4.00   0   D    
Restricted Stock Units     (4) 8/12/2010     D         15000   (3)   3/1/2011   (4) 3/1/2015   (5) Common Stock   15000   $4.00   0   D    

Explanation of Responses:
( 1)  In connection with the merger of a subsidiary of Medtronic, Inc. into Issuer on August 12, 2010 (the "Merger") pursuant to an agreement and plan of merger dated April 28, 2010, all shares of Issuer common stock were converted into the right to receive $4 per share in cash.
( 2)  1 unit for 1 share of Common Stock.
( 3)  This restricted stock unit, the vesting of which was accelerated in connection with the Merger, was cancelled in the merger in exchange for the right to receive a cash payment equal to the product of (i) the total number of shares of stock represented by the restricted stock unit, multiplied by (ii) $4 per share, less applicable withholding taxes.
( 4)  Vests in 20% annual cumulative installments starting on the date shown.
( 5)  Represents last vesting date.
( 6)  Vests in 20% annual cumulative installments starting on the date shown; in the second year remaining vesting is subject to acceleration if certain performance criteria are met.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Kramer Michael R
3905 ANNAPOLIS LANE
PLYMOUTH, MN 55447


Chief Financial Officer

Signatures
/s/ Deborah K. Chapman, Attorney in Fact for Michael R. Kramer 8/12/2010
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
Ats Medical (MM) (NASDAQ:ATSI)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Ats Medical (MM) Charts.
Ats Medical (MM) (NASDAQ:ATSI)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Ats Medical (MM) Charts.