Timothy Eriksen - Aug 19, 2022 Form 4 Insider Report for TSR INC (TSRI)

Role: Director
Signature: /s/ Tim Eriksen on behalf of ECM
Stock symbol: TSRI
Transactions as of: Aug 19, 2022
Transactions value $: $30,304
Form type: 4
Date filed: 8/22/2022, 04:50 PM
Previous filing: May 24, 2022
Next filing: Nov 15, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	TSRI	Common Stock, $0.01 par value	Purchase	$4.32K	+504		$8.58	504	Aug 19, 2022	See Footnote	F1
transaction	TSRI	Common Stock, $0.01 par value	Purchase	$26K	+3K	+595.24%	$8.66	3.5K	Aug 22, 2022	See Footnote	F1
holding	TSRI	Common Stock, $0.01 par value						26.8K	Aug 19, 2022	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Mr. Eriksen is the Managing Member of Eriksen Capital Management ("ECM") which manages separately managed accounts ("SMAs") and is also the Managing Member of Cedar Creek Partners, an investment partenrship. ECM executed open market purchases for 3,504 shares of common stock in various SMAs. The respective owners of the SMAs are responsible to vote the shares. The reporting person disclaims benefiical ownership of the reported securities except to the extent of his pecuniary interest therein.
F2	These shares are owned solely by Mr. Eriksen. They represent restricted stock awards granted under the TSR, Inc. 2020 Equity Incentive Plan. Of these shares, 6,800 are fully vested and 20,000 of these shares of restricted stock will remain subject to forfeiture for three years from the grant date. The lapse of the forfeiture restrictions is conditioned on the reporting person continuing to provide services to TSR, Inc. (the "Company") through each vesting date.

Content

Mr. Eriksen is the Managing Member of Eriksen Capital Management ("ECM") which manages separately managed accounts ("SMAs") and is also the Managing Member of Cedar Creek Partners, an investment partenrship. ECM executed open market purchases for 3,504 shares of common stock in various SMAs. The respective owners of the SMAs are responsible to vote the shares. The reporting person disclaims benefiical ownership of the reported securities except to the extent of his pecuniary interest therein.

These shares are owned solely by Mr. Eriksen. They represent restricted stock awards granted under the TSR, Inc. 2020 Equity Incentive Plan. Of these shares, 6,800 are fully vested and 20,000 of these shares of restricted stock will remain subject to forfeiture for three years from the grant date. The lapse of the forfeiture restrictions is conditioned on the reporting person continuing to provide services to TSR, Inc. (the "Company") through each vesting date.