Insider filing report for Changes in Beneficial Ownership
- Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
- Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
"Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise"
- Peter Lynch
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- Peter Lynch
What is insider trading>>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 6)*
Network-1 Technologies, Inc.
(Name of Issuer)
Common Stock, $.01 Par Value Per Share
(Title of Class of Securities)
64121N109
(CUSIP Number)
May 23, 2014
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
? [ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
The remainder of this cover page shall be filled out for a reporting
person?s initial filing on this form with respect to the subject class
of securities, and for any subsequent amendment containing information
which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be ?filed? for the purpose of Section 18 of the Securities
Exchange Act of 1934 (?Act?) or otherwise subject to the
liabilities of that section of the Act but shall be subject to all other
provisions of the Act (however, see the Notes).
CUSIP No. 64121N109
1. Names of Reporting Persons.
Hound Partners, LLC
2. Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [X]
3. SEC Use Only
4. Citizenship or Place of Organization
Delaware
Number of Shares
Beneficially
Owned by
Each Reporting
Person With:
5. Sole Voting Power
0
6. Shared Voting Power
1,000,000
7. Sole Dispositive Power
0
8. Shared Dispositive Power
1,000,000
9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,000,000
10. Check if the Aggregate Amount in Row (9)
Excludes Certain Shares [ ]
11. Percent of Class Represented by Amount in Row (9)
3.89%
12. Type of Reporting Person
IA
?
CUSIP No. 64121N109
1. Names of Reporting Persons.
Hound Performance, LLC
2. Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [X]
3. SEC Use Only
4. Citizenship or Place of Organization
Delaware
Number of Shares
Beneficially
Owned by
Each Reporting
Person With:
5. Sole Voting Power
0
6. Shared Voting Power
908,509
7. Sole Dispositive Power
0
8. Shared Dispositive Power
908,509
9. Aggregate Amount Beneficially Owned by Each Reporting Person
908,509
10. Check if the Aggregate Amount in Row (9)
Excludes Certain Shares [ ]
11. Percent of Class Represented by Amount in Row (9)
3.53%
12. Type of Reporting Person
OO
?
CUSIP No. 64121N109
1. Names of Reporting Persons.
Jonathan Auerbach
2. Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [X]
3. SEC Use Only
4. Citizenship or Place of Organization
United States
Number of Shares
Beneficially
Owned by
Each Reporting
Person With:
5. Sole Voting Power
0
6. Shared Voting Power
1,000,000
7. Sole Dispositive Power
0
8. Shared Dispositive Power
1,000,000
9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,000,000
10. Check if the Aggregate Amount in Row (9)
Excludes Certain Shares [ ]
11. Percent of Class Represented by Amount in Row (9)
3.89%
12. Type of Reporting Person
IN
?
CUSIP No. 64121N109
1. Names of Reporting Persons.
Hound Partners Offshore Fund, LP
2. Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [X]
3. SEC Use Only
4. Citizenship or Place of Organization
Cayman Islands
Number of Shares
Beneficially
Owned by
Each Reporting
Person With:
5. Sole Voting Power
0
6. Shared Voting Power
908,509
7. Sole Dispositive Power
0
8. Shared Dispositive Power
908,509
9. Aggregate Amount Beneficially Owned by Each Reporting Person
908,509
10. Check if the Aggregate Amount in Row (9)
Excludes Certain Shares [ ]
11. Percent of Class Represented by Amount in Row (9)
3.53%
12. Type of Reporting Person
PN
CUSIP No. 64121N109
ITEM 1.
(a) Name of Issuer:
Network-1 Technologies, Inc.
(b) Address of Issuer's Principal Executive Offices:
445 Park Avenue
Suite 1020
New York, New York 10022
ITEM 2.
(a) ? (c)
Hound Partners, LLC
101 Park Avenue, 48th Floor
New York, NY 10178
Hound Performance, LLC
101 Park Avenue, 48th Floor
New York, NY 10178
Jonathan Auerbach
101 Park Avenue, 48th Floor
New York, NY 10178
Hound Partners Offshore Fund, LP
c/o Citco Fund Services (Curacao) B.V.
Kaya Flamboyan 9
P.O. Box 4774
Willemstad, Curacao
(d) Title of Class of Securities:
Common Stock, $.01 par value per share
(e) CUSIP Number:
64121N109
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO
SS.240.13d-1(b) OR 240.13d-2(b) OR (c), CHECK WHETHER
THE PERSON FILING IS A:
(a)
[_]
Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o).
(b)
[_]
Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c).
(c)
[_]
Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c).
(d)
[_]
Investment company registered under Section 8 of the Investment
Company Act of 1940 (15 U.S.C. 80a-8).
(e)
[_]
An investment adviser in accordance with ss.240.13d-1(b)(1)(ii)(E);
(f)
[_]
An employee benefit plan or endowment fund in accordance
with ss.240.13d-1(b)(1)(ii)(F);
(g)
[_]
A parent holding company or control person in accordance
with ss.240.13d-1(b)(1)(ii)(G);
(h)
[_]
A savings associations as defined in Section 3(b) of the
Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
[_]
A church plan that is excluded from the definition of an
investment company under section 3(c)(14) of the Investment
Company Act of 1940 (15 U.S.C. 80a-3);
(j)
[_]
Group, in accordance with ss.240.13d-1(b)(1)(ii)(J).
ITEM 4. OWNERSHIP.
Provide the following information regarding the aggregate number
and percentage of the class of securities of the issuer identified in Item 1.
(a) Amount beneficially owned:
Hound Partners, LLC
1,000,000 shares
Hound Performance, LLC
908,509 shares
Jonathan Auerbach
1,000,000 shares
Hound Partners Offshore Fund, LP
908,509 shares
(b) Percent of class:
Hound Partners, LLC
3.89%
Hound Performance, LLC
3.53%
Jonathan Auerbach
3.89%
Hound Partners Offshore Fund, LP
3.53%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote
Hound Partners, LLC
0
Hound Performance, LLC
0
Jonathan Auerbach
0
Hound Partners Offshore Fund, LP
0
(ii) Shared power to vote or to direct the vote
Hound Partners, LLC
1,000,000 shares
Hound Performance, LLC
908,509 shares
Jonathan Auerbach
1,000,000 shares
Hound Partners Offshore Fund, LP
908,509 shares
(iii) Sole power to dispose or to direct the disposition of
Hound Partners, LLC
0
Hound Performance, LLC
0
Jonathan Auerbach
0
Hound Partners Offshore Fund, LP
0
(iv) Shared power to dispose or to direct the disposition of
Hound Partners, LLC
1,000,000 shares
Hound Performance, LLC
908,509 shares
Jonathan Auerbach
1,000,000 shares
Hound Partners Offshore Fund, LP
908,509 shares
?
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner
of more than five percent of the class of securities,
check the following [X].
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.
If any other person is known to have the right to receive or the
power to direct the receipt of dividends from, or the proceeds
from the sale of, such securities, a statement to that effect
should be included in response to this item and, if such
interest relates to more than five percent of the class, such
person should be identified. A listing of the shareholders of
an investment company registered under the Investment Company
Act of 1940 or the beneficiaries of employee benefit plan, pension
fund or endowment fund is not required.
N/A
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY.
If a parent holding company or Control person has filed this schedule,
pursuant to Rule 13d-1(b)(1)(ii)(G), so indicate under Item 3(g) and
attach an exhibit stating the identity and the Item 3 classification of the
relevant subsidiary. If a parent holding company or control person
has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d),
attach an exhibit stating the identification of the relevant subsidiary.
N/A
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
If a group has filed this schedule pursuant to ss.240.13d-1(b)(1)(ii)(J),
so indicate under Item 3(j) and attach an exhibit stating the identity
and Item 3 classification of each member of the group. If a group
has filed this schedule pursuant to ss.240.13d-1(c) or ss.240.13d-1(d),
attach an exhibit stating the identity of each member of the group.
N/A
ITEM 9. NOTICE OF DISSOLUTION OF GROUP.
Notice of dissolution of a group may be furnished as an exhibit stating
the date of the dissolution and that all further filings with respect to
transactions in the security reported on will be filed, if required,
by members of the group, in their individual capacity. See Item 5.
N/A
?
ITEM 10. CERTIFICATIONS.
"By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were not acquired and are not held for
the purpose of or with the effect of changing or influencing the control
of the issuer of the securities and were not acquired and are not held
in connection with or as a participant in any transaction
having such purpose or effect."
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief,
I certify that the information set forth in this statement is true,
complete and correct.
May 30, 2014
(Date)
HOUND PARTNERS, LLC (1)
By: /s/ Jonathan Auerbach
Jonathan Auerbach, Managing Member
HOUND PERFORMANCE, LLC (1)
By: /s/ Jonathan Auerbach
Jonathan Auerbach, Managing Member
/s/ Jonathan Auerbach (1)
JONATHAN AUERBACH
HOUND PARTNERS OFFSHORE FUND, LP (1)
By: Hound Performance, LLC, its general partner
By: /s/ Jonathan Auerbach
Jonathan Auerbach, Managing Member
(1) The Reporting Persons disclaim beneficial ownership
except to the extent of their pecuniary interest therein.
EXHIBIT A
AGREEMENT
The undersigned agree that this Schedule 13G Amendment
number 6 dated May 30, 2014 relating to the Common Stock,
$.01 par value per share of Network-1 Technologies, Inc. shall
be filed on behalf of the undersigned.
HOUND PARTNERS, LLC
By:
/s/ Jonathan Auerbach
Jonathan Auerbach, Managing Member
HOUND PERFORMANCE, LLC
By:
/s/ Jonathan Auerbach
Jonathan Auerbach, Managing Member
/s/ Jonathan Auerbach
JONATHAN AUERBACH
HOUND PARTNERS OFFSHORE FUND, LP
By: Hound Performance, LLC, its general partner
By:
/s/ Jonathan Auerbach
Jonathan Auerbach, Managing Member
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