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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) | ||
| 1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (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) |
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| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Stock Options (right to buy) | $ 4.79 | 03/28/2008 | A | 65,000 | 03/27/2010(1) | 03/27/2018 | Common Stock | 65,000 | $ 4.79 | 65,000 | I (2) (3) | See Footnote (2) (3) | |||
| Reporting Owner Name / Address | Relationships | |||
| Director | 10% Owner | Officer | Other | |
| Avenue Capital Management II, L.P. 535 MADISON AVENUE 15TH FLOOR NEW YORK, NY 10022 |
X | X | ||
| Avenue Special Situations Fund IV LP 535 MADISON AVENUE 15TH FLOOR NEW YORK, NY 10022 |
X | X | ||
| AVENUE INVESTMENTS LP 535 MADISON AVENUE 15TH FLOOR NEW YORK, NY 10022 |
X | X | ||
| AVENUE INTERNATIONAL LTD 535 MADISON AVENUE 15TH FLOOR NEW YORK, NY 10022 |
X | X | ||
| GPC 73, LLC 535 MADISON AVENUE 15TH FLOOR NEW YORK, NY 10022 |
X | X | ||
| Avenue CDP Global Opportunities Fund LP 535 MADISON AVENUE 15TH FLOOR NEW YORK, NY 10022 |
X | X | ||
| Avenue Capital Management II, L.P. By: Avenue Capital Management II GenPar, LLC , its General Partner By: /s/ SONIA GARDNER, Member | 04/25/2008 | |
| **Signature of Reporting Person | Date | |
| Avenue International, Ltd. By: /s/ SONIA GARDNER, Director | 04/25/2008 | |
| **Signature of Reporting Person | Date | |
| Avenue Investments, L.P. By: Avenue Partners, LLC its General Partner By: /s/ SONIA GARDNER, Member | 04/25/2008 | |
| **Signature of Reporting Person | Date | |
| Avenue Special Situations Fund IV, L.P. By: Avenue Capital Partners IV, LLC, its General Partner By: GL Partners IV, LLC, its Managing Member By: /s/ SONIA GARDNER, Member | 04/25/2008 | |
| **Signature of Reporting Person | Date | |
| Avenue - CDP Global Opportunities Fund, L.P. By: Avenue Global Opportunities Fund Genpar, LLC, its General Partner By: /s/ SONIA GARDNER, Member | 04/25/2008 | |
| **Signature of Reporting Person | Date | |
| GPC 73, LLC By: /s/ SONIA GARDNER, Authorized Signatory | 04/25/2008 | |
| **Signature of Reporting Person | Date |
| * | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
| ** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
| (1) | The option vests in twenty-four equal monthly installments beginning 03/28/08. |
| (2) | The securities are owned directly by Robert T. Symington. Mr. Symington is a director of the Issuer and an employee of Avenue Capital Management II, L.P. (the "Adviser"). The Adviser is the adviser to Avenue Special Situations Fund IV, L.P., Avenue Investments, L.P., Avenue International, Ltd., Avenue -CDP Global Opportunities Fund, L.P. and GPC 73, LLC (collectively, the "Funds"). The Funds have made an investment in Issuer. Pursuant to the Funds' limited partnership agreements, any director compensation received by an employee of the Adviser related to an entity in which the Funds have invested shall be for the benefit of the Adviser. Such amounts shall reduce certain fees and expenses of the Funds. Mr. Symington disclaims beneficial ownership of the options (and the common stock or other equity issued upon the exercise of the options), except for that portion of the sale proceeds necessary for Mr. Symington to satisfy any tax liabilities related thereto. (Continued Footnote 3) |
| (3) | The options being reported herein were also reported on Mr. Symington's Form 4 filed with the SEC on March 31, 2008. |
| Remarks: Remarks: This report is jointly filed by Avenue Capital Management II, L.P. ('Adviser") and the Funds, each of which may be deemed a director of the Issuer by virtue of their relationship with Mr. Symington, a director of the Issuer and an employee of Adviser, the investment adviser to the Funds. | |