Sec Form 4 Filing - FRANKLIN MARTIN E @ Element Solutions Inc - 2020-02-25

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
FRANKLIN MARTIN E
2. Issuer Name and Ticker or Trading Symbol
Element Solutions Inc [ ESI]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X __ Director X __ 10% Owner
_____ Officer (give title below) X __ Other (specify below)
Executive Chairman
(Last) (First) (Middle)
C/O ELEMENT SOLUTIONS INC, 500 EAST BROWARD BOULEVARD, SUITE 1860
3. Date of Earliest Transaction (MM/DD/YY)
02/25/2020
(Street)
FORT LAUDERDALE, FL33394
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, par value $0.01 per share 02/25/2020 C 1,060,000 A 11,509,987 I By Mariposa Acquisition, LLC ( 1 )
Common Stock, par value $0.01 per share 02/27/2020 J( 2 ) 11,509,987 D 0 I By Mariposa Acquisition, LLC ( 2 )
Common Stock, par value $0.01 per share 02/27/2020 J( 2 ) 4,452,063 A 6,889,512 I By MEF Holdings, LLLP ( 2 )
Common Stock, par value $0.01 per share 02/27/2020 J( 2 ) 2,605,861 A 2,848,971 I By RSMA, LLC ( 2 )
Common Stock, par value $0.01 per share 2,419,500 I By MEF Holdings II, LLLP
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
Series A Preferred Stock, par value $0.01 per share $ 0 ( 1 ) 02/25/2020 C 1,060,000 ( 1 ) ( 1 ) Common Stock 1,060,000 ( 1 ) 0 I By Mariposa Acquisition, LLC ( 1 )
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
FRANKLIN MARTIN E
C/O ELEMENT SOLUTIONS INC
500 EAST BROWARD BOULEVARD, SUITE 1860
FORT LAUDERDALE, FL33394
X X Executive Chairman
Signatures
/s/ John E. Capps as Attorney-in-Fact for Martin E. Franklin 02/27/2020
Signature of Reporting Person Date
Explanation of Responses:
( 1 )On 2/25/2020, all holders of the Issuer's Series A Preferred Stock, including Mariposa Acquisition, LLC, voluntarily converted (the "Conversion") their shares of Series A Preferred Stock into shares of the Issuer's common stock. Each share of Series A Preferred Stock was convertible at any time on or before 12/31/2020 at the election of the holder, on a one-for-one basis, for no additional consideration. This transaction is exempt from the provisions of Section 16(b) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), pursuant to Rule 16b-6(b).
( 2 )On 2/27/2020, Mariposa Acquisition, LLC distributed all 11,509,987 shares of the Issuer's common stock held by it following the Conversion pro rata to its members based on each member's pecuniary interest (the "Distribution"), including 61.32% beneficially owned (for purposes of Section 16 under the Exchange Act) indirectly by Mr. Franklin through MEF Holdings, LLLP (38.68%) and RSMA, LLC (22.64%). This change in form of beneficial ownership is exempt from Section 16 of the Exchange Act pursuant to Rule 16a-13. NONE OF THE PARTIES RECEIVING THE DISTRIBUTION HAVE ANY CURRENT INTENTION TO SELL SHARES OF THE ISSUER.

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