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.
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
[Rule 13d-101]
INFORMATION
TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO §240.13d-1(a)
AND AMENDMENTS THERETO FILED PURSUANT TO §240.13d-2(a)
(Amendment No. 9)*
Teligent, Inc.
(Name of Issuer)
Common Stock, $0.01 par value
(Title of Class of Securities)
87960W104
(CUSIP Number)
James C. Gale 152 West 57th Street, 59th Floor New York, New York 10019 (212) 419-3906 |
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
August 19, 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 §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box ☐.
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.
*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 disclosures provided in a prior cover page.
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).
SCHEDULE 13D
CUSIP No. 87960W104 |
13D | Page 2 of 13 Pages |
| 1 | NAMES OF REPORTING PERSONS.
Life Sciences Opportunities Fund II, L.P. |
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) o (b) o |
| 3 | SEC USE ONLY
|
| 4 | SOURCE OF FUNDS (SEE INSTRUCTIONS)
WC |
| 5 | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) o
|
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware |
| NUMBER
OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
7 | SOLE VOTING POWER &# xA0; 0
|
| 8 | SHARED VOTING POWER
17,515
| |
| 9 | SOLE DISPOSITIVE POWER
0 | |
| 10 | SHARED DISPOSITIVE POWER
17,515
|
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
17,515 |
| 12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) o
|
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.32%* |
| 14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
PN |
| * | Based on 5,391,569 outstanding shares of Common Stock of the Issuer as of August 7, 2020, as reported in the Issuer’s Quarterly Report on Form 10-Q for the Quarter Ended June 30, 2020 filed with the SEC on August 20, 2020. |
SCHEDULE 13D
CUSIP No. 87960W104 |
13D | Page 3 of 13 Pages |
| 1 | NAMES OF REPORTING PERSONS.
Life Sciences Opportunities Fund (Institutional) II, L.P. |
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) o (b) o |
| 3 | SEC USE ONLY
|
| 4 | SOURCE OF FUNDS (SEE INSTRUCTIONS)
WC |
| 5 | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) o
|
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware |
| NUMBER
OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
7 | SOLE VOTING POWER
0
|
| 8 | SHARED VOTING POWER
98,390
| |
| 9 | SOLE DISPOSITIVE POWER
0 | |
| 10 | SHARED DISPOSITIVE POWER
98,390
|
| 11 | AGGR EGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
98,390 |
| 12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) o
|
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.82%* |
| 14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
PN |
| * | Based on 5,391,569 outstanding shares of Common Stock of the Issuer as of August 7, 2020, as reported in the Issuer’s Quarterly Report on Form 10-Q for the Quarter Ended June 30, 2020 filed with the SEC on August 20, 2020. |
SCHEDULE 13D
CUSIP No. 87960W104 |
13D | Page 4 of 13 Pages |
| 1 | NAMES OF REPORTING PERSONS.
Signet Healthcare Partners, LLC |
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) o (b) o |
| 3 | SEC USE ONLY
|
| 4 | SOURCE OF FUNDS (SEE INSTRUCTIONS)
WC |
| 5 | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) o
|
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware |
| NUMBER
OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
7 | SOLE VOTING POWER
0
|
| 8 | SHARED VOTING POWER
115,905
| |
| 9 | SOLE DISPOSITIVE POWER
0 | |
| 10 | SHARED DISPOSITIVE POWER
115,905
|
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
115,905 |
| 12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) o
|
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.15%* |
| 14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
PN |
| * | Based on 5,391,569 outstanding shares of Common Stock of the Issuer as of August 7, 2020, as reported in the Issuer’s Quarterly Report on Form 10-Q for the Quarter Ended June 30, 2020 filed with the SEC on August 20, 2020. The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of its pecuniary interest therein, if any. |
SCHEDULE 13D
CUSIP No. 87960W104 |
13D | Page 5 of 13 Pages |
| 1 | NAMES OF REPORTING PERSONS.
SMW Investments I, LLC |
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) o (b) o |
| 3 | SEC USE ONLY
|
| 4 | SOURCE OF FUNDS (SEE INSTRUCTIONS)
WC |
| 5 | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) o
|
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION
Texas |
| NUMBER
OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
7 | SOLE VOTING POWER
0
|
| 8 | SHARED VOTING POWER
115,905
| |
| 9 | SOLE DISPOSITIVE POWER
0 | |
| 10 | SHARED DISPOSITIVE POWER
115,905
|
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
115,905 |
| 12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) o
|
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.15%* |
| 14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
CO |
| * | Based on 5,391,569 outstanding shares of Common Stock of the Issuer as of August 7, 2020, as reported in the Issuer’s Quarterly Report on Form 10-Q for the Quarter Ended June 30, 2020 filed with the SEC on August 20, 2020. The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of its pecuniary interest therein, if any. |
SCHEDULE 13D
CUSIP No. 87960W104 |
13D | Page 6 of 13 Pages |
| 1 | NAMES OF REPORTING PERSONS.
Don A. Sanders |
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) o (b) o |
| 3 | SEC USE ONLY
|
| 4 | SOURCE OF FUNDS (SEE INSTRUCTIONS)
WC |
| 5 | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) o
|
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION
Texas |
| NUMBER
OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
7 | SOLE VOTING POWER
0
|
| 8 | SHARED VOTING POWER
115,905
| |
| 9 | SOLE DISPOSITIVE POWER
0 | |
| 10 | SHARED DISPOSITIVE POWER
115,905
|
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
115,905 |
| 12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) o
|
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.15%* |
| 14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN |
| * | Based on 5,391,569 outstanding shares of Common Stock of the Issuer as of August 7, 2020, as reported in the Issuer’s Quarterly Report on Form 10-Q for the Quarter Ended June 30, 2020 filed with the SEC on August 20, 2020. The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of its pecuniary interest therein, if any. |
SCHEDULE 13D
CUSIP No. 87960W104 |
13D | Page 7 of 13 Pages |
| 1 | NAMES OF REPORTING PERSONS.
Ben T. Morris |
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) o (b) o |
| 3 | SEC USE ONLY
|
| 4 | SOURCE OF FUNDS (SEE INSTRUCTIONS)
WC |
| 5 | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) o
|
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION
Texas |
| NUMBER
OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
7 | SOLE VOTING POWER
0
|
| 8 | SHARED VOTING POWER
115,905
| |
| 9 | SOLE DISPOSITIVE POWER
0 | |
| 10 | SHARED DISPOSITIVE POWER
115,905
|
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
115,905 |
| 12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) o
|
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.15%* |
| 14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN |
| * | Based on 5,391,569 outstanding shares of Common Stock of the Issuer as of August 7, 2020, as reported in the Issuer’s Quarterly Report on Form 10-Q for the Quarter Ended June 30, 2020 filed with the SEC on August 20, 2020. The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of its pecuniary interest therein, if any. |
SCHEDULE 13D
CUSIP No. 87960W104 |
13D | Page 8 of 13 Pages |
| 1 | NAMES OF REPORTING PERSONS.
Donald V. Weir |
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) o (b) o |
| 3 | SEC USE ONLY
|
| 4 | SOURCE OF FUNDS (SEE INSTRUCTIONS)
WC |
| 5 | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) o
|
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION
Texas |
| NUMBER
OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
7 | SOLE VOTING POWER
0
|
| 8 | SHARED VOTING POWER
115,905
| |
| 9 | SOLE DISPOSITIVE POWER
0 | |
| 10 | SHARED DISPOSITIVE POWER
115,905
|
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
115,905 |
| 12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) o
|
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.15%* |
| 14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN |
| * | Based on 5,391,569 outstanding shares of Common Stock of the Issuer as of August 7, 2020, as reported in the Issuer’s Quarterly Report on Form 10-Q for the Quarter Ended June 30, 2020 filed with the SEC on August 20, 2020. The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of its pecuniary interest therein, if any. |
SCHEDULE 13D
CUSIP No. 87960W104 |
13D | Page 9 of 13 Pages |
| 1 | NAMES OF REPORTING PERSONS.
James C. Gale |
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) o (b) o |
| 3 | SEC USE ONLY
|
| 4 | SOURCE OF FUNDS (SEE INSTRUCTIONS)
WC |
| 5 | CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) o
|
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION
United States |
| NUMBER
OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
7 | SOLE VOTING POWER
0
|
| 8 | SHARED VOTING POWER
153,490
| |
| 9 | SOLE DISPOSITIVE POWER
0 | |
| 10 | SHARED DISPOSITIVE POWER
153,490
|
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
153,490 |
| 12 | CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) o
|
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.83%* |
| 14 | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN |
| * | Based on 5,391,569 outstanding shares of Common Stock of the Issuer as of August 7, 2020, as reported in the Issuer’s Quarterly Report on Form 10-Q for the Quarter Ended June 30, 2020 filed with the SEC on August 20, 2020. The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of its pecuniary interest therein, if any. |
SCHEDULE 13D
CUSIP No. 87960W104 |
13D | Page 10 of 13 Pages |
This Amendment No. 9 amends and supplements the statement on Schedule 13D originally filed with the Securities and Exchange Commission (the “SEC”) on March 24, 2009, as amended by Amendment No. 1 to Schedule 13D filed with the SEC on May 19, 2009, Amendment No. 2 to Schedule 13D filed with the SEC on April 6, 2010, Amendment No. 3 to Schedule 13D filed with the SEC on August 24, 2010, Amendment No. 4 to Schedule 13D filed with the SEC on December 12, 2012, Amendment No. 5 to Schedule 13D filed with the SEC on July 8, 2014, Amendment No. 6 to Schedule 13D filed with the SEC on August 29, 2014, Amendment No. 7 to Schedule 13D filed with the SEC on September 4, 2014, and Amendment No. 8 to Schedule 13D filed with the SEC on March 5, 2015 (the “Schedule 13D”), by (i) Life Sciences Opportunities Fund II, L.P., a Delaware limited partnership (“LOF”), (ii) Life Sciences Opportunities Fund (Institutional) II, L.P., a Delaware limited partnership (“LOFI” and together with LOF, the “Funds”), (iii) Signet Healthcare Partners, LLC, a Delaware limited liability company and general partner of LOF and LOFI (the “General Partner”), (iv) SMW Investments I, LLC, a Delaware limited liability company and the controlling member of the General Partner (“SMW”), (v) James C. Gale, (vi) Don A. Sanders, (vii) Ben T. Morris, and (viii) Donald V. Weir with respect to the Common Stock, $0.01 par value per share (the “Common Stock”) of Teligent, Inc., a Delaware corporation (the “Issuer”). Unless otherwise indicated, each capitalized term used but not defined herein shall have the meaning assigned to such term in the Schedule 13D. From and after the date hereof, all references in the Schedule 13D to the Schedule 13D or terms of similar import shall be deemed to refer to the Schedule 13D as amended and supplemented hereby.
Item 5. Interest in Securities of the Issuer
Item 5 is hereby amended and restated in its entirety to read as follows:
(a) The aggregate number and percentage of shares of Common Stock reported owned by each of the Reporting Persons herein is based upon 5,391,569 outstanding shares of Common Stock of the Issuer as of August 7, 2020, as reported in the Issuer’s Quarterly Report on Form 10-Q for the Quarter Ended June 30, 2020 filed with the SEC on August 20, 2020.
| Beneficial Owner | Aggregate Number of Shares Owned |
Percentage of Class |
||||||
| Life Sciences Opportunities Fund II, L.P. | 17,515 | 0.32 | % | |||||
| Life Sciences Opportunities Funds (Institutional) II, L.P. | 98,390 | 1.82 | % | |||||
| Life Sciences Opportunities Fund II, L.P. and Life Sciences Opportunities Fund (Institutional) II, L.P. | 115,905 | 2.15 | % | |||||
| Signet Healthcare Partners, LLC | 115,905 | (1) | 2.15 | % | ||||
| SMW Investments I, LLC | 115,905 | (1) | 2.15 | % | ||||
| Don A. Sanders | 115,905 | (1) | 2.15 | % | ||||
| Ben T. Morris | 115,905 | (1) | 2.15 | % | ||||
| Donald V. Weir | 115,905 | (1) | 2.15 | % | ||||
| James C. Gale | 153,490 | (2) | 2.83 | % | ||||
| (1) | Includes (i) 17,515 shares of Common stock owned by LOF and (ii) 98,390 shares of Common stock owned by LOFI. |
| (2) | Includes (i) 17,515 shares of Co mmon stock owned by LOF, (ii) 98,390 shares of Common Stock owned by LOFI, (iii) 14,463 shares of Common Stock beneficially owned by Mr. Gale and (iv) 23,122 shares of Common stock issuable upon exercise of stock options held by Mr. Gale. |
Each of the Reporting Persons disclaims beneficial ownership of the reported securities except to the extent of its, his, or her pecuniary interest therein, if any.
SCHEDULE 13D
CUSIP No. 87960W104 |
13D | Page 11 of 13 Pages |
Except as set forth above, to the knowledge of the Reporting Persons, the persons listed on Appendix A of the Schedule 13D do not beneficially own any shares of Common Stock of the Issuer.
(b) The number of shares of Common Stock as to which there is (i) sole power to vote or direct the vote, (ii) shared power to vote or direct the vote, (iii) sole power to dispose or direct the disposition, or (iv) shared power to dispose or direct the disposition for each of the Reporting Persons is set forth on the cover pages, and such information is incorporated herein by reference.
(c) On August 19, 2020, LOF sold 13,251 shares of Common Stock at a price of $2.2459 per share and LOFI sold 74,020 shares of Common Stock as a price of $2.2565 per share. On August 21, 2020, LOF sold 18,432 shares of Common Stock at a price of $1.6569 per share and LOFI sold 102,962 shares of Common Stock as a price of $1.6615 per share. On August 25, 2020, LOF sold 15,184 shares of Common Stock at a price of $1.1266 per share and LOFI sold 84,816 shares of Common Stock as a price of $1.1336 per share. On August 26, 2020, LOF sold 85,106 shares of Common Stock at a price of $1.2478 per share and LOFI sold 475,512 shares of Common Stock as a price of $1.2435 per share. The transactions were effected on the Nasdaq Global Select Market.
Other than as noted above, no transactions involving shares of the Issuer’s Common Stock were effected by the Reporting Persons or any persons set forth on Appendix A of the Schedule 13D during the sixty days before the date of this Amendment No. 9 to Schedule 13D.
(d) Except as set forth in Item 5(a), no 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, the Common Stock.
(e) On August 26, 2020, the Reporting Persons ceased to be the beneficial owners of more than 5% of the Issuer’s Common Stock.
SCHEDULE 13D
CUSIP No. 87960W104 |
13D | Page 12 of 13 Pages |
SIGNATURES
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.
Date: September 16, 2020
| Life Sciences Opportunities Fund II, L.P. | ||
| By: Signet Healthcare Partners, LLC | ||
| By: | /s/ James C. Gale | |
| Name: James C. Gale | ||
| Title: Manager | ||
| Life Sciences Opportunities Fund (Institutional) II, L.P. | ||
| By: Signet Healthcare Partners, LLC | ||
| By: | /s/ James C. Gale | |
| Name: James C. Gale | ||
| Title: Manager | ||
| Signet Healthcare Partners, LLC | ||
| By: | /s/ James C. Gale | |
| Name: James C. Gale | ||
| Title: Manager | ||
| SMW Investments I, LLC | ||
| By: | /s/ Donald V. Weir | |
| Name: Donald V. Weir | ||
| Title: President | ||
| /s/ Don A. Sanders | ||
| Don A. Sanders | ||
| /s/ Ben T. Morris | ||
| Ben T. Morris | ||
| /s/ Donald V. Weir | ||
| Donald V. Weir | ||
| /s/ James C. Gale | ||
| James C. Gale | ||
SCHEDULE 13D
CUSIP No. 87960W104 |
13D | Page 13 of 13 Pages |
Appendix A
The following table sets forth the name, business address, and present principal occupation or employment of each manager of SMW Investments I, LLC. Unless otherwise indicated below, each such person is a citizen of the United States and the business address of each such person is 600 Travis, Suite 5900, Houston, Texas 77002. Except as indicated below, during the last five years, none of the persons listed below has been convicted in a criminal proceeding (excluding traffic violations and similar misdemeanors) or 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 as a party to a civil proceeding of a judicial or administrative body of competent jurisdiction.
| Name | Present Principal Occupation or Employment; | |
| Don A. Sanders | Director, Sanders Morris Harris Inc. | |
| Ben T. Morris | Principal, Sanders Morris Harris Inc. | |
| Donald V. Weir | Associate, Sanders Morris Harris Inc. |