Sec Form 4 Filing - CAGAN LAIRD Q @ Calpian, Inc. - 2012-08-07

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
CAGAN LAIRD Q
2. Issuer Name and Ticker or Trading Symbol
Calpian, Inc. [ CLPI]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X __ Director X __ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last) (First) (Middle)
20400 STEVENS CREEK BLVD, SUITE 700
3. Date of Earliest Transaction (MM/DD/YY)
08/07/2012
(Street)
CUPERTINO, CA95014
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ 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 09/04/2012 S/K( 5 ) 35,000 ( 4 ) D $ 1.5 ( 5 ) 1,640,000 I Wells Fargo Roth IRA Custodian for Laird Q. Cagan
Common Stock 1,200,000 ( 6 ) I ( 6 ) Wells Fargo Roth IRA Custodian for Sherry Cagan
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
Common Stock Warrant (Right to Buy) $ 2 08/07/2012 A 71,233 08/07/2012 08/07/2017 Common Stock 71,233 ( 1 ) 571,233 ( 3 ) I ( 2 ) by Cagan Capital, LLC
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
CAGAN LAIRD Q
20400 STEVENS CREEK BLVD
SUITE 700
CUPERTINO, CA95014
X X
Signatures
/s/Laird Cagan 09/28/2012
Signature of Reporting Person Date
Explanation of Responses:
( 1 )Grant of common stock warrants of the Issuer pursuant to a Note Modification Agreement.
( 2 )Cagan Capital, LLC is an entity owned and controlled by Laird Cagan.
( 3 )This includes warrants previously reported by Reporting Person.
( 4 )Mr. Cagan's IRA made a distribution of 35,000 shares to Mr. Cagan. This was an asset swap of equal value.
( 5 )Reporting person had a private sale of 35,000 shares at $1.50 per share.
( 6 )Sherry Cagan is the spouse of Reporting Person. Mrs. Cagan's IRA is joint property of, and beneficially held by, Reporting Person. Mrs. Cagan transferred 16,000 shares from her IRA to "The Cagan-Wolfenbarger Family Trust" which is beneficially held and jointly owned by Reporting Person. Mrs. Cagan has sole voting control over the IRA. The Cagan's share joint voting on The Family Trust.

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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