Sec Form 4 Filing - SONY CORP @ Chicken Soup for the Soul Entertainment, Inc. - 2020-11-12

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
SONY CORP
2. Issuer Name and Ticker or Trading Symbol
Chicken Soup for the Soul Entertainment, Inc. [ CSSE]
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)
1-7-1, KONAN, MINATO-KU
3. Date of Earliest Transaction (MM/DD/YY)
11/12/2020
(Street)
TOKYO, M0108-0075
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
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
LLC Units ( 1 ) ( 2 ) ( 3 ) 11/12/2020 J 38,000 ( 1 ) ( 2 ) ( 3 ) ( 4 ) ( 4 ) Series A 9.75% Perpetual Preferred Stock ( 1 ) ( 2 ) ( 3 ) ( 1 ) ( 2 ) ( 3 ) 38,000 I See Explanation of Responses ( 5 )
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
SONY CORP
1-7-1, KONAN
MINATO-KU
TOKYO, M0108-0075
X
Signatures
/s/ Hiroki Totoki By: Hiroki Totoki, Executive Deputy President and Chief Financial Officer 11/24/2020
Signature of Reporting Person Date
Explanation of Responses:
( 1 )CPE Holdings, Inc. ("CPEH") holds 1,000 units of common equity ("Common Units") and 37,000 units of preferred equity ("Preferred Units") of Crackle Plus LLC ("Crackle Plus").
( 2 )Upon notice (the "Put Election Notice"), CPEH has the option to require the Issuer to acquire all, but not less than all, of its interest in Crackle Plus for consideration of (i) with respect to the Common Units, a number of shares of Issuer Preferred Shares equal to (x) the greater of (A) $3 million and (B) the product of ten (10), multiplied by Crackle Plus's earnings before interest, tax, depreciation and amortization (EBITDA) for the twelve (12) month period ended as of the end of the most recent fiscal quarter prior to the date of the Put Election Notice, multiplied by the percentage interest in Crackle Plus represented by such Common Units, divided by (y) $25.00; (cont'd)
( 3 )and (ii) with respect to the Preferred Units, 1,480,000 Issuer Preferred Shares (or, in each case, at the Issuer's election, an amount in cash in lieu of such Issuer Preferred Shares at $25 per share). In lieu of exercising that right, CPEH may convert its Preferred Units into Common Units.
( 4 )On November 12, 2020, Chicken Soup for the Soul Entertainment Inc. (the "Company"), Crackle Plus and CPEH entered into an amendment to the Amended and Restated Limited Liability Company Agreement of Crackle Plus to extend the date by which CPEH must deliver the Put Election Notice or convert its Preferred Units into Common Units by thirty (30) days, from November 14, 2020 to December 14, 2020.
( 5 )The securities are held through CPEH, an indirect wholly-owned subsidiary of the Reporting Person.

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