Sec Form 4 Filing - Boyle Capital Opportunity Fund, LP @ LEAF GROUP LTD. - 2020-07-17

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

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, 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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1. Name and Address of Reporting Person Boyle Capital Opportunity Fund, LP 2. Issuer Name and Ticker or Trading Symbol LEAF GROUP LTD. [ LEAF] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner _____ Officer (give title below) X __ Other (specify below) May be member of 10% group (Last) (First) (Middle) 1230 OFFICE PLAZA DRIVE 3. Date of Earliest Transaction (MM/DD/YY) 07/17/2020 (Street) WEST DES MOINES, IA50266 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) _____ Form filed by One Reporting Person __ X __ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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) Code V Amount (A) or (D) Price Common Stock 07/17/2020 X 1,000 A $ 3 25,200 I By Boyle Capital Opportunity Fund, LP ( 1 )

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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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 (MM/DD/YY) 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) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Call option (right to buy) $ 3 07/17/2020 X 10 06/22/2020 07/17/2020 Common Stock 1,000 $ 0 0 I By Boyle Capital Opportunity Fund, LP ( 1 )

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Boyle Capital Opportunity Fund, LP 1230 OFFICE PLAZA DRIVE WEST DES MOINES, IA50266 May be member of 10% group Golden Valley Capital Partners, LLC 1230 OFFICE PLAZA DRIVE WEST DES MOINES, IA50266 May be member of 10% group Boyle Capital Management, L.L.C. 1230 OFFICE PLAZA DRIVE WEST DES MOINES, IA50266 May be member of 10% group Ritland Erik Andrew 1230 OFFICE PLAZA DRIVE WEST DES MOINES, IA50266 May be member of 10% group Boyle Brian Fitzgerald 1230 OFFICE PLAZA DRIVE WEST DES MOINES, IA50266 May be member of 10% group Signatures /s/ Erik Ritland, individually and as a Managing Partner of Boyle Capital Opportunity Fund, LP and a Managing Partner of Golden Valley Capital Partners, LLC 08/04/2020 Signature of Reporting Person Date /s/ Brian Boyle, individually and as President of Boyle Capital Management, LLC 08/04/2020 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Golden Valley Capital Partners, LLC serves as the general partner of Boyle Capital Opportunity Fund, LP. Boyle Capital Management, LLC is thecontracted investment manager of Boyle Capital Opportunity Fund, LP. Erik Ritland is a managing member of Golden Valley Capital Partners,LLC. Brian Boyle is a member of Golden Valley Capital Partners, LLC and managing member of Boyle Capital Management, LLC. Each Reporting Person expressly disclaims beneficial ownership with respect to any shares beyond his or its pecuniary interest therein.

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).

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