- Statement of Changes in Beneficial Ownership (4)
October 12 2011 - 7:50AM
Edgar (US Regulatory)
FORM 4
[ ]
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue.
See
Instruction 1(b).
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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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(f) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
*
Lifshitz Atzmon
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2. Issuer Name
and
Ticker or Trading Symbol
NESS TECHNOLOGIES INC
[
(NSTC)
]
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director
_____ 10% Owner
__
X
__ Officer (give title below)
_____ Other (specify below)
EVP, Human Resources
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(Last)
(First)
(Middle)
C/O NESS TECHNOLOGIES, INC., ATIDIM HIGH-TECH INDUSTRIAL PARK, BLDG 4
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3. Date of Earliest Transaction
(MM/DD/YYYY)
10/11/2011
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(Street)
TEL AVIV, L3 61580
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
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6. Individual or Joint/Group Filing
(Check Applicable Line)
_
X
_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1.Title of Security
(Instr. 3)
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2. Trans. Date
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2A. Deemed Execution Date, if any
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3. Trans. Code
(Instr. 8)
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4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
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5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
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6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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Amount
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(A) or (D)
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Price
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Common Stock, $.01 par value per share
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10/11/2011
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D
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12292
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D
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$7.75
(1)
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0
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D
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Table II - Derivative Securities Beneficially Owned (
e.g.
, puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security
(Instr. 3)
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2. Conversion or Exercise Price of Derivative Security
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3. Trans. Date
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3A. Deemed Execution Date, if any
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4. Trans. Code
(Instr. 8)
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5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
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6. Date Exercisable and Expiration Date
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7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
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8. Price of Derivative Security
(Instr. 5)
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9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)
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10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)
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11. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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(A)
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(D)
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Date Exercisable
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Expiration Date
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Title
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Amount or Number of Shares
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Option (right to buy)
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$12
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10/11/2011
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D
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50000
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(2)
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5/15/2013
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Common Stock, $.01 par value per share
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50000
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(2)
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0
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D
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Option (right to buy)
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$4.53
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10/11/2011
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D
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33750
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(2)
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12/8/2015
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Common Stock, $.01 par value per share
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33750
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$3.22
(2)
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0
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D
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Restricted Stock Unit
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(3)
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10/11/2011
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D
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5625
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(3)
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(3)
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Common Stock, $.01 par value per share
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5625
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(3)
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0
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D
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Option (right to buy)
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$4.35
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10/11/2011
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D
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50000
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(2)
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6/28/2017
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Common Stock, $.01 par value per share
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50000
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$3.4
(2)
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0
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D
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Restricted Stock Unit
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(3)
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10/11/2011
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D
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13333
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(3)
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(3)
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Common Stock, $.01 par value per share
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13333
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(3)
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0
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D
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Explanation of Responses:
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(
1)
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Disposed of pursuant to the terms of the Agreement and Plan of Merger, dated as of June 10, 2011, by and among Ness Technologies, Inc., Jersey Holding Corporation and Jersey Acquisition Corporation (the "Merger Agreement") in exchange for a cash payment of $7.75 per share upon the closing of the merger.
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(
2)
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This option was cancelled pursuant to the terms of the Merger Agreement and converted into the right to receive an amount in cash equal to the total number of shares subject to such option, multiplied by the excess, if any, of $7.75 over the exercise price per share of such option, less any applicable withholding taxes.
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(
3)
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Each Restricted Stock Unit represents a contingent right to receive one share of Common Stock of Ness Technologies, Inc. The Restricted Stock Units became fully vested pursuant to the terms of the Merger Agreement and were disposed of pursuant to the terms of the Merger Agreement in exchange for a cash payment of $7.75 per share upon the closing of the merger.
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Reporting Owners
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Reporting Owner Name / Address
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Relationships
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Director
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10% Owner
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Officer
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Other
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Lifshitz Atzmon
C/O NESS TECHNOLOGIES, INC.
ATIDIM HIGH-TECH INDUSTRIAL PARK, BLDG 4
TEL AVIV, L3 61580
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EVP, Human Resources
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Signatures
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By: /s/ Ilan Rotem - Attorney in Fact
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10/11/2011
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**
Signature of Reporting Person
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Date
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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*
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If the form is filed by more than one reporting person,
see
Instruction 4(b)(v).
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**
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Intentional misstatements or omissions of facts constitute Federal Criminal Violations.
See
18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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Note:
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File three copies of this Form, one of which must be manually signed. If space is insufficient,
see
Instruction 6 for procedure.
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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.
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