Asure Software Inc.
ASURE SOFTWARE INC (Form: 3, Received: 06/02/2017 17:16:43)
FORM 3
        
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

ISYSTEMS HOLDINGS, LLC

2. Date of Event Requiring Statement (MM/DD/YYYY)
5/25/2017 

3. Issuer Name and Ticker or Trading Symbol

ASURE SOFTWARE INC [ASUR]

(Last)        (First)        (Middle)

C/O SILVER OAK SERVICES PARTNERS LLC, 1560 SHERMAN AVENUE, SUITE 1200

4. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                            ___ X ___ 10% Owner
_____ Officer (give title below)          _____ Other (specify below)

(Street)

EVANSTON, IL 60201       

(City)              (State)              (Zip)
5. If Amendment, Date Original Filed (MM/DD/YYYY)

 

6. Individual or Joint/Group Filing (Check Applicable Line)

___ Form filed by One Reporting Person
_ X _ Form filed by More than One Reporting Person


Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)
2. Amount of Securities Beneficially Owned
(Instr. 4)
3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)
4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock   1526332   (1) (2) D    

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 4)
2. Date Exercisable and Expiration Date
(MM/DD/YYYY)
3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)
4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)
6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares

Explanation of Responses:
(1)  These shares are held directly by iSystems Holdings, LLC. ("Holdings"). Silver Oak iSystems, LLC ("iSystems LLC") is the owner of a controlling interest in Holdings and has the right to appoint a majority of the managers of Holdings. Silver Oak Services Partners II, L.P. ("SOSP II") is the sole member of iSystems LLC. Silver Oak Management II, L.P. ("SOM II") is the general partner of SOSP II. Silver Oak Services Partners, LLC ("SOSP LLC") is the general partner of SOM II. Daniel M. Gill and Gregory M. Barr are the sole members of SOSP LLC, each owning a 50% interest in SOSP LLC, who acting together, have the power to direct the decisions of SOSP II regarding the vote and disposition of securities held directly by Holdings.
(2)  (Continued from footnote 1) As such, iSystems LLC, SOSP II, SOM II, SOSP LLC, Mr. Gill and Mr. Barr may be deemed to be indirect beneficial owners of the shares held directly by Holdings. Each of iSystems LLC, SOSP II, SOM II, SOSP LLC, Mr. Gill and Mr. Barr expressly disclaim beneficial ownership of shares held directly by Holdings, except to the extent of their respective pecuniary interests therein.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
ISYSTEMS HOLDINGS, LLC
C/O SILVER OAK SERVICES PARTNERS LLC
1560 SHERMAN AVENUE, SUITE 1200
EVANSTON, IL 60201

X

GILL DANIEL M
1560 SHERMAN AVENUE, SUITE 1200
EVANSTON, IL 60201

X

BARR GREGORY M

 

X

SILVER OAK SERVICES PARTNERS, LLC
1560 SHERMAN AVENUE
SUITE 1200
EVANSTON, IL 60201

X

SILVER OAK MANAGEMENT II, L.P.
1560 SHERMAN AVENUE
SUITE 1200
EVANSTON, IL 60201

X

SILVER OAK SERVICES PARTNERS II, L.P.
1560 SHERMAN AVENUE
SUITE 1200
EVANSTON, IL 60201

X

SILVER OAK ISYSTEMS, LLC
1560 SHERMAN AVENUE
SUITE 1200
EVANSTON, IL 60201

X


Signatures
iSystems Holdings, LLC, By: /s/ Daniel M. Gill, President 6/2/2017
** Signature of Reporting Person Date

Silver Oak Services Partners, LLC, By: /s/ Daniel M. Gill, Managing Partner 6/2/2017
** Signature of Reporting Person Date

Silver Oak Management II, L.P., By: Silver Oak Services Partners, LLC, its GP, By: /s/ Daniel M. Gill, Managing Partner 6/2/2017
** Signature of Reporting Person Date

Silver Oak Services Partners II, L.P., By: Silver Oak Management II, L.P., its GP, By: Silver Oak Services Partners, LLC, its GP, By: /s/ Daniel M. Gill, Managing Partner 6/2/2017
** Signature of Reporting Person Date

Silver Oak iSystems, LLC, By: /s/ Daniel M. Gill, President 6/2/2017
** Signature of Reporting Person Date

/s/ Daniel M. Gill 6/2/2017
** Signature of Reporting Person Date

/s/ Gregory M. Barr 6/2/2017
** Signature of Reporting Person Date


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 5(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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