1
|
NAME OF REPORTING PERSON
MOAB CAPITAL PARTNERS, LLC
|
||
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a) o
(b) o
|
|
3
|
SEC USE ONLY
|
||
4
|
SOURCE OF FUNDS
AF
|
||
5
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
|
¨
|
|
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
|
||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
715,448
|
|
8
|
SHARED VOTING POWER
- 0 -
|
||
9
|
SOLE DISPOSITIVE POWER
715,448
|
||
10
|
SHARED DISPOSITIVE POWER
- 0 -
|
||
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
715,448
|
||
12
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|
o
|
|
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.7%
|
||
14
|
TYPE OF REPORTING PERSON
IA
|
1
|
NAME OF REPORTING PERSON
MOAB PARTNERS, L.P.
|
||
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a) o
(b) o
|
|
3
|
SEC USE ONLY
|
||
4
|
SOURCE OF FUNDS
WC
|
||
5
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
|
¨
|
|
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
|
||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
679,208
|
|
8
|
SHARED VOTING POWER
- 0 -
|
||
9
|
SOLE DISPOSITIVE POWER
679,208
|
||
10
|
SHARED DISPOSITIVE POWER
- 0 -
|
||
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
679,208
|
||
12
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|
o
|
|
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.3%
|
||
14
|
TYPE OF REPORTING PERSON
PN
|
1
|
NAME OF REPORTING PERSON
MICHAEL M. ROTHENBERG
|
||
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a) o
(b) o
|
|
3
|
SEC USE ONLY
|
||
4
|
SOURCE OF FUNDS
AF
|
||
5
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
|
¨
|
|
6
|
CITIZENSHIP OR PLACE OF ORGANIZATION
USA
|
||
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
7
|
SOLE VOTING POWER
715,448
|
|
8
|
SHARED VOTING POWER
-0-
|
||
9
|
SOLE DISPOSITIVE POWER
715,448
|
||
10
|
SHARED DISPOSITIVE POWER
-0-
|
||
11
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
715,448
|
||
12
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|
o
|
|
13
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.7%
|
||
14
|
TYPE OF REPORTING PERSON
IN, HC
|
Item 3.
|
Source and Amount of Funds or Other Consideration.
|
Item 4.
|
Purpose of Transaction.
|
Item 5.
|
Interest in Securities of the Issuer.
|
A.
|
Moab LP
|
|
(a)
|
As of the close of business on March 14, 2016, Moab LP directly owned 679,208 Shares.
|
|
(b)
|
1. Sole power to vote or direct vote: 679,208
|
|
2. Shared power to vote or direct vote: 0
|
|
3. Sole power to dispose or direct the disposition: 679,208
|
|
4. Shared power to dispose or direct the disposition: 0
|
|
(c)
|
The transactions in the Shares by Moab LP since the filing of the Schedule 13D are set forth in Schedule A and are incorporated herein by reference.
|
B.
|
Moab LLC
|
|
(a)
|
As of the close of business on March 14, 2016, 36,240 Shares were held in the Managed Account. Moab LLC, as the investment adviser of Moab LP and the Managed Account, may be deemed the beneficial owner of the (i) 679,208 Shares directly owned by Moab LP and (ii) 36,240 Shares held in the Managed Account.
|
|
(b)
|
1. Sole power to vote or direct vote: 715,448
|
|
2. Shared power to vote or direct vote: 0
|
|
3. Sole power to dispose or direct the disposition: 715,448
|
|
4. Shared power to dispose or direct the disposition: 0
|
|
(c)
|
Moab LLC has not entered into any transactions in the Shares since the filing of the Schedule 13D. The transactions in the Shares on behalf of Moab LP and the Managed Account since the filing of the Schedule 13D are set forth in Schedule A and are incorporated herein by reference.
|
C.
|
Mr. Rothenberg
|
|
(a)
|
Mr. Rothenberg, as the managing member of Moab LLC, may be deemed the beneficial owner of the (i) 679,208 Shares directly owned by Moab LP and (ii) 36,240 Shares held in the Managed Account.
|
|
(b)
|
1. Sole power to vote or direct vote: 715,448
|
|
2. Shared power to vote or direct vote: 0
|
|
3. Sole power to dispose or direct the disposition: 715,448
|
|
4. Shared power to dispose or direct the disposition: 0
|
|
(c)
|
Mr. Rothenberg has not entered into any transactions in the Shares since the filing of the Schedule 13D. The transactions in the Shares on behalf of Moab LP and the Managed Account since the filing of the Schedule 13D are set forth in Schedule A and are incorporated herein by reference.
|
Item 7.
|
Material to be Filed as Exhibits.
|
|
99.1
|
Letter to the Issuer’s Board of Directors, dated March 15, 2016.
|
MOAB PARTNERS, L.P.
|
|||
By:
|
Moab Capital Partners, LLC,
its Investment Adviser
|
||
By:
|
/s/ Michael M. Rothenberg
|
||
Name:
|
Michael M. Rothenberg
|
||
Title:
|
Managing Director
|
||
MOAB CAPITAL PARTNERS, LLC
|
|||
By:
|
/s/ Michael M. Rothenberg
|
||
Name:
|
Michael M. Rothenberg
|
||
Title:
|
Managing Director
|
/s/ Michael M. Rothenberg
|
|
MICHAEL M. ROTHENBERG
|
Shares of Common Stock
Purchased
|
Price Per
Share($)
|
Date of
Purchase
|
3,150
|
5.0508
|
03/08/2016
|
20,167
|
5.0414
|
03/08/2016
|
36,208
|
5.0615
|
03/08/2016
|
657
|
5.0200
|
03/10/2016
|
738
|
5.0325
|
03/10/2016
|
1,501
|
5.0479
|
03/10/2016
|
376
|
5.1481
|
03/11/2016
|
23,450
|
5.1400
|
03/11/2016
|
2,256
|
5.1066
|
03/14/2016
|
1,065
|
5.0282
|
03/14/2016
|
1,974
|
5.1044
|
03/14/2016
|
2,393
|
5.0615
|
03/08/2016
|
1,333
|
5.0414
|
03/08/2016
|
208
|
5.0508
|
03/08/2016
|
99
|
5.0848
|
03/10/2016
|
48
|
5.0325
|
03/10/2016
|
43
|
5.0200
|
03/10/2016
|
1,550
|
5.1400
|
03/11/2016
|
24
|
5.3042
|
03/11/2016
|
144
|
5.1066
|
03/14/2016
|
68
|
5.0282
|
03/14/2016
|
126
|
5.1044
|
03/14/2016
|