Peter H. Woodward - Jul 19, 2022 Form 4 Insider Report for TSS, Inc. (TSSI)

Role
Director, 10%+ Owner
Signature
/s/ Christopher R. Johnson, Attorney-in-Fact
Stock symbol
TSSI
Transactions as of
Jul 19, 2022
Transactions value $
$0
Form type
4
Date filed
7/21/2022, 05:21 PM
Previous filing
Jan 6, 2022
Next filing
Dec 29, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TSSI Common Stock Conversion of derivative security +768K +70.74% 1.85M Jul 19, 2022 Shares held through MHW Partners, L.P. F1, F2
transaction TSSI Common Stock Conversion of derivative security +1.12M +391.52% 1.4M Jul 19, 2022 Shares held through MHW SPV II, LLC F3, F4
holding TSSI Common Stock 886K Jul 19, 2022 Shares subject to performance related fee F5
holding TSSI Common Stock 475K Jul 19, 2022 Shares subject to performance related fee F6

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction TSSI Warrant Conversion of derivative security -768K -100% 0 Apr 29, 2022 Common stock 768K Shares held through MHW Partners, L.P. F1, F2
transaction TSSI Warrant Conversion of derivative security -1.12M -100% 0 Apr 29, 2022 Common stock 1.12M Shares held through MHW SPV II, LLC F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Warrant exercise price of $0.10 for the first 268,625 shares, $0.20 for the next 268,625 shares and $0.30 for the final 230,250 shares.
F2 The shares are owned by MHW Partners, L.P. The reporting person is the General Partner of MHW Partners, L.P. The reporting person disclaims beneficial ownership of these shares except to the extent of the reporting person's pecuniary interest in the shares.
F3 Warrant exercise price of $0.10 for the first 390,539 shares, $0.20 for the next 390,539 shares and $0.30 for the final 334,748 shares.
F4 The shares are owned by MHW SPV II, LLC. The reporting person is the Manager of MHW SPV II, LLC. The reporting person disclaims beneficial ownership of these shares except to the extent of the reporting person's pecuniary interest in the shares.
F5 The shares are owned by unaffiliated third persons, and the reporting person has a right to a performance-related fee upon the disposition of such shares. The reporting person disclaims beneficial ownership of these shares except to the extent of the reporting person's pecuniary interest in the shares.
F6 The shares are owned by SOAM Azul II, LLC. The reporting person is the Manager of SOAM Azul II, LLC. The reporting person disclaims beneficial ownership of these shares except to the extent of the reporting person's pecuniary interest in the shares.