Sec Form 4 Filing - Kanen David @ U.S. Auto Parts Network, Inc. - 2020-06-25

Insider filing report for Changes in Beneficial Ownership
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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
Kanen David
2. Issuer Name and Ticker or Trading Symbol
U.S. Auto Parts Network, Inc. [ PRTS]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director X __ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last) (First) (Middle)
5850 CORAL RIDGE DR STE 309
3. Date of Earliest Transaction (MM/DD/YY)
06/25/2020
(Street)
CORAL SPRINGS, FL33076
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 06/25/2020 S 281,478 D $ 8.9562 2,844,337 ( 1 ) ( 2 ) I KANEN WEALTH MANAGEMENT, LLC ( 3 )
COMMON STOCK 06/29/2020 S 13,958 D $ 8.9508 2,830,379 ( 1 ) ( 2 ) I KANEN WEALTH MANAGEMENT, LLC ( 3 )
COMMON STOCK 06/30/2020 S 198 D $ 8.9 2,830,181 ( 1 ) ( 2 ) I KANEN WEALTH MANAGEMENT, LLC ( 3 )
COMMON STOCK 179,230 ( 1 ) ( 2 ) D
COMMON STOCK 50,000 ( 1 ) ( 2 ) I BY DEFINED BENEFIT PLAN
COMMON STOCK 06/26/2020 S 14,558 D $ 8.7522 985,442 ( 1 ) ( 2 ) I THE PHILOTIMO FUND
COMMON STOCK 06/29/2020 S 185,442 D $ 8.8586 800,000 ( 1 ) ( 2 ) I THE PHILOTIMO FUND
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
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Kanen David
5850 CORAL RIDGE DR STE 309
CORAL SPRINGS, FL33076
X
Kanen Wealth Management LLC
5850 CORAL RIDGE DR STE 309
CORAL SPRINGS, FL33076
X
Philotimo Fund, LP
5850 CORAL RIDGE DR STE 309
CORAL SPRINGS, FL33076
X
Signatures
/s/ David L. Kanen 06/30/2020
Signature of Reporting Person Date
/s/ Kanen Wealth Management LLC By: David L. Kanen, Managing Member 06/30/2020
Signature of Reporting Person Date
/s/ The Philotimo Fund By: David L. Kanen 06/30/2020
Signature of Reporting Person Date
Explanation of Responses:
( 1 )1. This Form 4 is filed jointly by David Kanen, Kanen Wealth Management, LLC ("KWM") and the Philotimo Fund, LP (collectively, the "Reporting Persons"). Each of the Reporting Persons may be deemed to be a member of a group that may be deemed to collectively beneficially own more than 10% of the Issuer's outstanding shares of Common Stock. The filing of this Form 4 shall not be deemed an admission that the Reporting Persons are, for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, the beneficial owners of any securities of the Issuer he or it does not directly own.
( 2 )2.Mr.Kanen beneficially owns, pursuant to the beneficial ownership rules of Section 13(d) of the Securities Exchange Act of 1934, as amended, the shares of Common Stock listed in Column 5 of this Form 4, which represent approximately 9.9% of the Issuer's outstanding shares of Common Stock. Pursuant to such beneficial ownership rules, Mr. Kanen, as the managing member of KWM, may be deemed to beneficially own the shares of Common Stock held in customer accounts managed by KWM as disclosed in this Form 4 (including the 179,230 shares held in Mr. Kanen's account) and the 800,000 shares of Common Stock held by The Philotimo Fund LP, of which KWM is the general partner. Mr. Kanen expressly disclaims such beneficial ownership except to the extent of his pecuniary interest therein. Mr. Kanen does not have a pecuniary interest under Section 16 of the Exchange Act in the shares of Common Stock held in customer accounts managed by KWM other than the 179,230 shares held in Mr. Kanen's Account
( 3 )KWM does not have a pecuniary interest in the shares of Common Stock held in customer accounts managed by KWM. The number reflected above excludes 179,230 shares held in Mr. Kanen's account as described in footnote 2 above.

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* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
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