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PRGX PRGX Global Inc

7.71
0.00 (0.00%)
Pre Market
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type
PRGX Global Inc NASDAQ:PRGX NASDAQ Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 7.71 7.71 9.00 0 00:00:00

Statement of Changes in Beneficial Ownership (4)

04/03/2021 3:09pm

Edgar (US Regulatory)


FORM 4 [X] 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
Estimated average burden
hours per response...
0.5                       
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 *

Drapkin Matthew A
2. Issuer Name and Ticker or Trading Symbol

PRGX GLOBAL, INC. [ PRGX ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

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

NORTHERN RIGHT CAPITAL MANAGEMENT, L.P., 9 OLD KINGS HIGHWAY, 4TH FLOOR
3. Date of Earliest Transaction (MM/DD/YYYY)

3/3/2021
(Street)

DARIEN, CT 06820
(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
Common Stock, no par value 3/3/2021  D(1)  7480 D$7.71 2028068 D  
Common Stock, no par value 3/3/2021  D(1)  2028068 D$7.71 0 I By Northern Right Capital Management, L.P. (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 Security3. Trans. Date3A. Deemed Execution Date, if any4. 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 Date7. 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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Restricted Stock Units subject to deferral election  (3)3/3/2021  D     30769   (3) (3)Common Stock, no par value 30769  (3)0 D  
Stock Option (right to buy) $4.80 3/3/2021  D     35000   (4)11/9/2023 Common Stock, no par value 35000 $2.91 (4)0 D  
Stock Option (right to buy) $4.80 3/3/2021  D     20417   (4)11/9/2023 Common Stock, no par value 20417 $2.91 (4)0 D  
Stock Option (right to buy) $6.35 3/3/2021  D     13636   (4)11/9/2023 Common Stock, no par value 13636 $1.36 (4)0 D  
Deferred Compensation Plan Stock Units  (5)3/3/2021  D     10052   (5) (5)Common Stock, no par value 10052 $7.71 (5)0 D  
Deferred Compensation Plan Stock Units  (5)3/3/2021  D     18547   (5) (5)Common Stock, no par value 18547 $7.71 (5)0 D  

Explanation of Responses:
(1) Disposed of pursuant to the Agreement and Plan of Merger dated as of December 24, 2020 (the "Merger Agreement"), by and among PRGX Global, Inc., a Georgia Corporation (the "Company"), Pluto Acquisitionco Inc., a Delaware corporation ("Parent"), and Pluto Merger Sub Inc., a Georgia corporation and wholly owned subsidiary of Parent ("Merger Sub").
(2) Shares beneficially owned by Mr. Drapkin include shares deemed beneficially owned indirectly by Mr. Drapkin who is a managing member of BC Advisors, LLC, which is the general partner of Northern Right Capital Management, L.P. (of which Mr. Drapkin is a limited partner). Northern Right Capital Management, L.P. is the general partner of, and investment manager for, Northern Right Capital (QP), L.P.
(3) Pursuant to the Merger Agreement, at the effective time, and in accordance with the terms of the PRGX Global, Inc. Deferred Compensation Plan for Non-Employee Directors (the "Plan"), each Company RSU which is subject to a deferral election under the Plan was deemed contributed to the Plan and then cancelled and converted into the right to receive a cash payment, without interest, equal to (i) $7.71 multiplied by (ii) the total number of shares of Company common stock subject to such Company RSU, less any required withholding taxes.
(4) Pursuant to the Merger Agreement, at the effective time of the Merger, each outstanding option to purchase Company common stock (each, a "Company Stock Option"), whether vested or unvested, was cancelled and converted into the right to receive a cash payment, without interest, equal to (i) $7.71, less the exercise price per share attributable to such Company Stock Option multiplied by (ii) the total number of shares of Company common stock then issuable upon exercise in full of such Company Stock Options, less any required withholding taxes.
(5) Pursuant to the Merger Agreement, at the effective time, and in accordance with the terms of the Plan, each Stock Unit (as defined in the Plan) was cancelled and converted into the right of the holder of such Stock Unit to receive a cash payment, without interest, equal to (i) $7.71 multiplied by (ii) the number of shares of Company common stock subject to each Stock Unit.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director10% OwnerOfficerOther
Drapkin Matthew A
NORTHERN RIGHT CAPITAL MANAGEMENT, L.P.
9 OLD KINGS HIGHWAY, 4TH FLOOR
DARIEN, CT 06820
X



Signatures
/s/ Victor A. Allums as Attorney-in-Fact for Matthew A. Drapkin3/4/2021
**Signature of Reporting PersonDate

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