Statement of Changes in Beneficial Ownership (4)

Date : 07/12/2019 @ 12:56AM
Source : Edgar (US Regulatory)
Stock : Crawford United Corp (CRAWA)
Quote : 19.0  0.0 (0.00%) @ 2:39PM
Quote Chart

Statement of Changes in Beneficial Ownership (4)

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
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

CRAWFORD MATTHEW V
2. Issuer Name and Ticker or Trading Symbol

CRAWFORD UNITED Corp [ CRAWA ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

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

10514 DUPONT AVE.
3. Date of Earliest Transaction (MM/DD/YYYY)

5/10/2019
(Street)

CLEVELAND, OH 44108
(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
Class B Common Shares   7/9/2019     C    100000   A $6.48   518750   (1) I   By First Francis Company Inc. and Roundball LLC   (2)

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
Convertible Loan Agreement   $1.43   5/10/2019     A      $107250.00   (3)        (3) 12/31/2019   Class B Common Shares   75000     (3) $107250.00   (3) I   By Roundball LLC   (2)
Convertible Promissory Note   $6.48   5/10/2019     A      $648000.00   (4)        (4) 7/1/2022   Class B Common Shares   100000     (4) $648000.00   (4) I   By First Francis Company Inc.   (2)
Convertible Promissory Note   $6.48   7/9/2019     C         $648000.00   (5)     (4) 7/1/2022   Class B Common Shares   100000   $0.00   0   I   By First Francis Company Inc.   (2)

Explanation of Responses:
(1)  Includes 115,000 Class B Common Shares owned directly by Roundball LLC, an Ohio limited liability company.
(2)  For purposes of the Securities Exchange Act of 1934, the reporting person disclaims beneficial ownership of these securities, except of his pecuniary interest therein, if any, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or otherwise.
(3)  In 2011, the Crawford United Corporation issued a convertible note to Roundball LLC. In December 2018, the note was amended to provide Roundball LLC with the option to convert a portion of the outstanding indebtedness into Class B Common Shares at a price of $1.43 per share, up to a maximum amount of 75,000 Class B Common Shares, subject to shareholder approval, which approval was obtained on May 10, 2019.
(4)  In 2016, Crawford United Corporation issued two separate promissory notes to First Francis Company Inc. ("First Francis"). In 2018, one of the notes was amended to provide First Francis with the option, exercisable on or after July 5, 2019, to convert up to $648,000 of principal amount into Class B Common Shares at a conversion price of $6.48 per share, subject to shareholder approval, which approval was obtained on May 10, 2019.
(5)  On July 9, 2019, First Francis elected to convert $648,000 of the amount outstanding under its promissory note issued by Crawford United Corporation into 100,000 Class B Common Shares.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
CRAWFORD MATTHEW V
10514 DUPONT AVE.
CLEVELAND, OH 44108
X X


Signatures
/s/Frederick N. Widen, Attorney-in-fact 7/11/2019
** 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.
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