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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 |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
DONDERO JAMES D 13455 NOEL ROAD DALLAS, TX 75240 |
President | |||
HIGHLAND CAPITAL MANAGEMENT LP 13455 NOEL ROAD SUITE 800 DALLAS, TX 75240 |
Investment Adviser |
/s/James D. Dondero | 07/22/2008 | |
**Signature of Reporting Person | Date | |
James D. Dondero | 07/22/2008 | |
**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) | Received in exchange for 2,279,636 shares of Prospect Street High Income Portfolio Inc. ("PHY") common stock and 1,006,209 shares of Prospect Street Income Shares Inc. ("CNN") common stock in connection with the reorganizations of PHY and CNN into the issuer. On the effective date of the reorganizations, the net asset value of PHY's common stock was $2.62, the net asset value of CNN's common stock was $5.13 and the net asset value of HCF's common stock was $13.93. |
(2) | The amount shown includes shares held by the Highland CDO Opportunity Fund, Ltd. ("CDO"), (ii) The Canis Major Trust ("Canis Major"), (iii) The Get Good Non-Exempt Trust No. 2("Get Good Non-Exempt"), (iv) Highland Capital Management, L.P. ("HCMLP"), (v) PCMG Trading Partners XXIII, LP ("PCMG"), (vi) Highland Equity Focus Fund, L.P. ("HEFF"), (vii) the Option Plan, (viii) the HCMLP 401(k) Plan and (ix) Highland Capital Management L.P. Retirement Plan and Trust (the "Retirement Plan and Trust"). |
(3) | HCMLP was the investment adviser for PHY and CNN, and is the investment adviser for the issuer. HCMLP maintains the 401(k) Plan, the Option Plan and the Retirement Plan and Trust for the benefit of its employees. Mr. Dondero is the President of HCMLP and the trustee of Canis Major, Get Good Non-Exempt, the 401(k) Plan and the Retirement Plan and Trust, as well as a participant in the 401(k) Plan and Retirement Plan and Trust. Each of CDO, HEFF and PCMG are controlled by HCMLP. Each of the Option Plan, the 401(k) Plan and Retirement Plan and Trust expressly disclaims beneficial ownership of the securities reported herein. Each of CDO, HEFF, PCMG, Canis Major, Get Good Non-Exempt, HCMLP and Mr. Dondero expressly disclaims beneficial ownership of the securities reported herein, except to the extent of their pecuniary interests therein. |