SEC Filing - Marchex

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SEC FORM 4 SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

HOROWITZ RUSSELL C

(Last)

(First)

(Middle)

520 PIKE STREET

SUITE 2000

(Street)

SEATTLE

98101

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
MARCHEX INC [ MCHX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
X	Officer (give title below)	X	Other (specify below)
Executive Chairman / Office of the CEO Member

3. Date of Earliest Transaction (Month/Day/Year)
05/22/2019

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class B Common Stock	05/22/2019		A⁽¹⁾⁽²⁾		94,000	A	$0.01	559,418	D
Class B Common Stock								5,000	I	By IRA

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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 Securities Underlying Derivative Security (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: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Employee Stock Option (right to buy)	$5.25	05/22/2019		A		46,000		⁽²⁾⁽³⁾	05/22/2029	Class B Common Stock	46,000	$0.00	46,000	D

Explanation of Responses:

1. Restricted stock award effective May 22, 2019 (the "Grant Date").

2. See Exhibit A.

3. Option grant effective on the Grant Date.

Remarks:

	Russell C. Horowitz	05/24/2019
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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 Number.

Exhibit A - Footnote 2

Such options and shares of restricted stock shall vest on the fifth annual
anniversary of the Grant Date with accelerated vesting upon certain events and
subject to continued employment at all such times. With respect to acceleration,
(a) 50% of such options and shares of restricted stock shall vest upon
attainment of specified revenue, adjusted OIBA or share price targets at the
later of eighteen (18) months or performance attainment (2019 revenue exceeding
120% of
2018 level, 2019 adjusted OIBA exceeding specified multiples of 2018 level, or
the Class B common stock share price for twenty (20) consecutive trading days
exceeding 150% of the initial 2019 twenty (20) consecutive trading day average),
and (b) such remaining unvested options and shares of restricted stock shall
vest upon attainment of specified revenue, adjusted OIBA or share price targets
at the later of thirty (30) months or performance attainment
(trailing twelve (12) month revenue exceeding 127% of 2018 level, trailing
twelve (12) month adjusted OIBA exceeding specified multiples of 2018 level
higher than the initial performance target above, or the Class B common stock
share
price for twenty (20) consecutive trading days exceeding 160% of the initial
2019 twenty (20) consecutive trading day average). Such options and shares of
restricted stock shall also be subject to the Corporation's standard form of
executive officer "Double-Trigger Change in Control Acceleration" of vesting to
the extent not otherwise vested upon such event.