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
What is insider trading>>
- Peter Lynch
What is insider trading>>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13D/A
(Amendment No. 6)
Under the Securities Exchange Act of 1934
ALASKA COMMUNICATIONS SYSTEMS GROUP, INC.
(Name of Issuer)
COMMON SHARES, $.01 Par Value
(Title of Class of Securities)
COMMON - 01167P101
(CUSIP Number)
SCOTT L. BARBEE
AEGIS FINANCIAL CORPORATION
6862 ELM STREET, SUITE 830
MCLEAN, VA 22101
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
November 6, 2020
(Date of Event Which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of ss.240.13D-1(e), 240.13d-1(f) or 240.13d-1(g), check the
following box [X].
The information required on 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. 01167P101 SCHEDULE 13D
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Aegis Financial Corporation
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(D) OR 2(E)
[_]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
NUMBER OF ----------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY -0-
OWNED BY ----------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
PERSON ----------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*
[_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.00%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IA
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
CUSIP No. 01167P101 SCHEDULE 13D
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Scott L. Barbee
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(D) OR 2(E)
[_]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
NUMBER OF ----------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY -0-
OWNED BY ----------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
PERSON ----------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*
[_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.00%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
--------------------------------------------------------------------------------
1. SECURITY AND ISSUER.
This Schedule 13D filed by Aegis Financial Corporation and by Scott L.
Barbee (each, a "Reporting Person" and collectively, the "Reporting Persons")
relate to the common stock of Alaska Communications Systems Group, Inc. (the
"Issuer"). The principal executive office of the Issuer is located at 600
Telephone Avenue, Anchorage, Alaska 99503-6091.
2. IDENTITY AND BACKGROUND.
(a), (b) and (c)
This Schedule 13D is being filed on behalf of Aegis Financial Corporation
("AFC") and Scott L. Barbee (each a "Reporting Person" and collectively, the
"Reporting Persons").
(i) The address of the principal business and principal office of AFC is
6862 Elm Street, Suite 830, McLean, VA 22101. Scott L. Barbee is the President
and sole shareholder of AFC.
(ii) Scott L. Barbee's address is 6862 Elm Street, Suite 830, McLean, VA
22101. Scott L. Barbee is President and sole shareholder of AFC.
(d) During the past five years, neither of the Reporting Persons has been
convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors).
(e) During the past five years, neither of the Reporting Persons has been a
party to a civil proceeding of a judicial or administrative body of competent
jurisdiction as a result of which he was or is subject to a judgment, decree or
final order enjoining future violations of, or prohibiting or mandating
activities subject to, federal or state securities laws or finding any violation
with respect to such laws.
(f) AFC is a Delaware Corporation.
Scott L. Barbee is a citizen of the United States of America.
3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The amount of funds expended to date by the Reporting Persons to acquire
the 0 shares of common stock it holds beneficially is $0. Shares previously
held were purchased using funds provided from Advisory Clients' investment
accounts managed by the Reporting Persons.
No borrowed funds were used to purchase the Common Stock.
4. PURPOSE OF TRANSACTION.
The Reporting Persons acquired the shares of Common Stock of the Issuer
for investment purposes.
Except as set forth above and as incorporated by reference, the Reporting
Persons do not have any present plans or proposals that relate to or would
result in any of the actions required to be described in Item 4 of this Final
Amendment to Schedule 13D. The Reporting Persons may, at any time, review or
reconsider its position with respect to the Issuer and formulate plans or
proposals with respect to any of such matters, but has no present intention of
doing so. The filing of this Amendment No. 6 represents the final amendment to
the Schedule 13D and constitutes an "exit filing" for the Reporting Persons.
5. INTEREST IN SECURITIES OF THE ISSUER.
To the best of the Reporting Persons' knowledge based on the information
contained in the Issuer's most recent Quarterly Report on Form 10-Q for the
quarter ended June 30, 2020, the number of shares of Common Stock of the
Company outstanding as of Aug 4, 2020 was 53,668,057 shares.
(A) Aegis Financial Corporation
(a) - (e) Aggregate number of shares beneficially owned: -0-
Percentage: 0.0%
(b) 1. Sole power to vote or to direct vote: -0-
2. Shared power to vote or to direct vote: -0-
3. Sole power to dispose or to direct the disposition: -0-
4. Shared power to dispose or to direct disposition: -0-
(c) During the 60-day period ended Nov 9, 2020, Aegis Financial
Corporation decreased its overall beneficial ownership of the Company's common
stock through securities sale transactions. Average prices include brokerage
commissions paid.
Common Shares Average Price
Date No. of Shares per Share
------------------- ------------------------------ ---------------------
11/03/2020 (261,200) $3.03
11/04/2020 (150,000) $3.00
11/06/2020 (1,700,000) $3.03
11/09/2020 (269,248) $3.05
(B) Scott L. Barbee
(a) - (e) Aggregate number of shares beneficially owned: -0-
Percentage: 0.0%
(b) 1. Sole power to vote or to direct vote: -0-
2. Shared power to vote or to direct vote: -0-
3. Sole power to dispose or to direct the disposition: -0-
4. Shared power to dispose or to direct disposition: -0-
(c) During the 60-day period ended November 9, 2020, Scott L. Barbee did
not purchase or sell any shares of the Company's Common Stock.
(d) AFC's advisory clients have the right to receive or direct the receipt of
dividends from, or the proceeds from the sale of, the 0 shares of common
stock.
(e) Not applicable.
6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO
SECURITIES OF THE ISSUER.
There are no contracts, arrangements, understandings or relationships
between the reporting Persons and any other person with respect to any security
of the Company.
7. MATERIAL TO BE FILED AS EXHIBITS.
Exhibit 1 Joint Filing Agreement, dated as of November 9, 2020, among
Aegis Financial Corporation and Scott L. Barbee
After reasonable inquiry and to the best of our knowledge and belief, we certify
that the information set forth in this statement is true, complete and correct.
DATED: November 9, 2020
Aegis Financial Corporation
By: /s/ Scott L. Barbee
-----------------------------
Name: Scott L. Barbee
Title: President
By: /s/ Scott L. Barbee
-----------------------------
Scott L. Barbee
Exhibit 1
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(f) under the Securities Exchange Act of
1934, as amended, each of the undersigned agree to the joint filing on behalf of
each of them of the Schedule 13D to which this Joint Filing Agreement (this
"AGREEMENT") is attached as an Exhibit and any amendments thereto. In evidence
thereof, each of the undersigned, being duly authorized, hereby executed this
Agreement.
Date: November 9, 2020
Aegis Financial Corporation
By: /s/ Scott L. Barbee
-----------------------------
Name: Scott L. Barbee
Title: President
By: /s/ Scott L. Barbee
-----------------------------
Scott L. Barbee