BRC Advisors GP, LLC

SEC source: 0001062993-18-002550 · form4.xml · derivative · entry 9

Beltzman Daniel Gordon · CIK 0001550099 · Director

Smith Gregory Howard · CIK 0001550336 · Director by Deputization

Birch Run Capital Advisors, LP · CIK 0001541457 · Director by Deputization

BRC Advisors GP, LLC · CIK 0001599312 · Director by Deputization

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By Walloon BRC, LP

Disclosed balance after: 0

Underlying: Common Stock · 230,728 shares

Expires 2028-02-09

F5 · kind: On June 8, 2018, Walloon BRC GP, L.L.C. elected to liquidate Walloon BRC, L.P., by distributing 160,676 shares of Common Stock, 290,780 Series A Warrants and 230,728 Series B Warrants, to each of its limited partners, on a pro rata, in kind basis, without consideration. Due to the high water mark applicable to the general partner at the time of the distribution, it did not hold any pecuniary interest in Walloon BRC, L.P., prior to (or after) the in kind, pro rata distribution.

F2 · ownership.nature: Birch Run Capital GP, L.L.C. serves as the General Partner to Birch Run Capital Partners, L.P., and Walloon BRC GP, L.L.C. serves as the General Partner to Walloon BRC, L.P. (each a "General Partner and collectively, "the General Partners"). Daniel Beltzman and Gregory Smith are the Co-Managing Members of the General Partners. As owners of the General Partner to Birch Run Capital Partners, L.P., Messrs. Beltzman and Smith may share in an allocation of the profits. See Footnote (5) below for a discussion of potential pecuniary interest in Walloon BRC, L.P.

F4 · ownership.nature: Each of the Advisor, the Adviser GP, Daniel Beltzman, and Gregory Smith disclaim beneficial ownership of the reported securities except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

SEC source: 0001062993-18-002550 · form4.xml · derivative · entry 8

Beltzman Daniel Gordon · CIK 0001550099 · Director

Smith Gregory Howard · CIK 0001550336 · Director by Deputization

Birch Run Capital Advisors, LP · CIK 0001541457 · Director by Deputization

BRC Advisors GP, LLC · CIK 0001599312 · Director by Deputization

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By Walloon BRC, LP

Disclosed balance after: 0

Underlying: Common Stock · 290,780 shares

Expires 2028-02-09

F5 · kind: On June 8, 2018, Walloon BRC GP, L.L.C. elected to liquidate Walloon BRC, L.P., by distributing 160,676 shares of Common Stock, 290,780 Series A Warrants and 230,728 Series B Warrants, to each of its limited partners, on a pro rata, in kind basis, without consideration. Due to the high water mark applicable to the general partner at the time of the distribution, it did not hold any pecuniary interest in Walloon BRC, L.P., prior to (or after) the in kind, pro rata distribution.

F2 · ownership.nature: Birch Run Capital GP, L.L.C. serves as the General Partner to Birch Run Capital Partners, L.P., and Walloon BRC GP, L.L.C. serves as the General Partner to Walloon BRC, L.P. (each a "General Partner and collectively, "the General Partners"). Daniel Beltzman and Gregory Smith are the Co-Managing Members of the General Partners. As owners of the General Partner to Birch Run Capital Partners, L.P., Messrs. Beltzman and Smith may share in an allocation of the profits. See Footnote (5) below for a discussion of potential pecuniary interest in Walloon BRC, L.P.

F4 · ownership.nature: Each of the Advisor, the Adviser GP, Daniel Beltzman, and Gregory Smith disclaim beneficial ownership of the reported securities except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

SEC source: 0001062993-18-002550 · form4.xml · nonDerivative · entry 3

Beltzman Daniel Gordon · CIK 0001550099 · Director

Smith Gregory Howard · CIK 0001550336 · Director by Deputization

Birch Run Capital Advisors, LP · CIK 0001541457 · Director by Deputization

BRC Advisors GP, LLC · CIK 0001599312 · Director by Deputization

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By Walloon BRC, LP

Disclosed balance after: 0

F5 · kind: On June 8, 2018, Walloon BRC GP, L.L.C. elected to liquidate Walloon BRC, L.P., by distributing 160,676 shares of Common Stock, 290,780 Series A Warrants and 230,728 Series B Warrants, to each of its limited partners, on a pro rata, in kind basis, without consideration. Due to the high water mark applicable to the general partner at the time of the distribution, it did not hold any pecuniary interest in Walloon BRC, L.P., prior to (or after) the in kind, pro rata distribution.

F2 · ownership.nature: Birch Run Capital GP, L.L.C. serves as the General Partner to Birch Run Capital Partners, L.P., and Walloon BRC GP, L.L.C. serves as the General Partner to Walloon BRC, L.P. (each a "General Partner and collectively, "the General Partners"). Daniel Beltzman and Gregory Smith are the Co-Managing Members of the General Partners. As owners of the General Partner to Birch Run Capital Partners, L.P., Messrs. Beltzman and Smith may share in an allocation of the profits. See Footnote (5) below for a discussion of potential pecuniary interest in Walloon BRC, L.P.

F4 · ownership.nature: Each of the Advisor, the Adviser GP, Daniel Beltzman, and Gregory Smith disclaim beneficial ownership of the reported securities except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

SEC source: 0001062993-18-000711 · form4.xml · derivative · entry 12

Beltzman Daniel Gordon · CIK 0001550099 · Director · 10% owner

Smith Gregory Howard · CIK 0001550336 · 10% owner

Birch Run Capital Advisors, LP · CIK 0001541457 · 10% owner

BRC Advisors GP, LLC · CIK 0001599312 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By Pike BRC, LP

Disclosed balance after: 269,181

Underlying: Common Stock · 269,181 shares

Expires 2028-02-09

F1 · kind: On February 9, 2018 (the "Effective Date"), the Issuer's Amended Prepackaged Plan of Reorganization (the "Plan") became effective, and the Issuer emerged from bankruptcy proceedings. On the Effective Date, all outstanding shares of the Issuer's common stock, par value $0.01 per share ("Old Common Stock") and all rights of any holder in respect thereof were cancelled and extinguished. Pursuant to the Plan, on the Effective Date, each holder of Old Common Stock (including the Reporting Persons) received, in respect of one share of Old Common Stock (i) 0.05689208 shares of new common stock, par value $0.01 per share ("Common Stock"), (ii) 0.09692659 Series A Warrants to purchase an equivalent number of shares of Common Stock, and 0.07690920 Series B Warrants to purchase an equivalent number of shares of Common Stock, in all cases, subject to rounding with no fractional shares or warrants issuable. Such transaction was involuntary and in accordance with the terms of the Plan.

F2 · ownership.nature: These securities are held directly by Birch Run Capital Partners, L.P., Walloon BRC, L.P., and Pike BRC, L.P. (collectively, the "Funds"). As of the date of this filing: Birch Run Capital Partners, L.P. directly holds 55,446 shares of Common Stock, 94,462 Series A Warrants, and 74,954 Series B Warrants; Walloon BRC, L.P. directly holds 170,676 shares of Common Stock, 290,778 Series A Warrants, and 230,727 Series B Warrants; and Pike BRC, L.P. directly holds 199,122 shares of Common Stock, 339,241 Series A Warrants, and 269,181 Series B Warrants.

F3 · ownership.nature: Birch Run Capital GP, L.L.C. serves as the General Partner to Birch Run Capital Partners, L.P., Walloon BRC GP, L.L.C. serves as the General Partner to Walloon BRC, L.P. and Pike BRC GP, L.L.C. serves as the General Partner to Pike BRC, L.P. (collectively, "the General Partners"). Daniel Beltzman and Gregory Smith are the Co-Managing Members of the General Partners. As owners of the General Partners to the Funds, Messrs. Beltzman and Smith may share in an allocation of the profits of the Funds.

F4 · ownership.nature: Birch Run Capital Advisors, L.P. (the "Adviser") serves as the Investment Adviser to the Funds. Pursuant to management agreements among the Adviser, the Funds, and their respective general partners, the Adviser has complete and unlimited discretion and authority with respect to the Funds' investments and voting power over investments. In connection with the services provided by the Adviser, the Adviser receives an asset-based management fee that does not confer any pecuniary interest in the securities held by the Funds. BRC Advisors GP, L.L.C. ("Adviser GP") is the General Partner to the Adviser. Daniel Beltzman and Gregory Smith are the Limited Partners of the Adviser and the Co-Managing Members of the Adviser GP. The Adviser, the Adviser GP, Daniel Beltzman and Gregory Smith may be deemed to share voting and dispositive power over the reported securities.

F5 · ownership.nature: Each of the Adviser, the Adviser GP, Daniel Beltzman, and Gregory Smith disclaim beneficial ownership of the reported securities except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

SEC source: 0001062993-18-000711 · form4.xml · derivative · entry 11

Beltzman Daniel Gordon · CIK 0001550099 · Director · 10% owner

Smith Gregory Howard · CIK 0001550336 · 10% owner

Birch Run Capital Advisors, LP · CIK 0001541457 · 10% owner

BRC Advisors GP, LLC · CIK 0001599312 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By Pike BRC, LP

Disclosed balance after: 339,241

Underlying: Common Stock · 339,241 shares

Expires 2028-02-09

F1 · kind: On February 9, 2018 (the "Effective Date"), the Issuer's Amended Prepackaged Plan of Reorganization (the "Plan") became effective, and the Issuer emerged from bankruptcy proceedings. On the Effective Date, all outstanding shares of the Issuer's common stock, par value $0.01 per share ("Old Common Stock") and all rights of any holder in respect thereof were cancelled and extinguished. Pursuant to the Plan, on the Effective Date, each holder of Old Common Stock (including the Reporting Persons) received, in respect of one share of Old Common Stock (i) 0.05689208 shares of new common stock, par value $0.01 per share ("Common Stock"), (ii) 0.09692659 Series A Warrants to purchase an equivalent number of shares of Common Stock, and 0.07690920 Series B Warrants to purchase an equivalent number of shares of Common Stock, in all cases, subject to rounding with no fractional shares or warrants issuable. Such transaction was involuntary and in accordance with the terms of the Plan.

F2 · ownership.nature: These securities are held directly by Birch Run Capital Partners, L.P., Walloon BRC, L.P., and Pike BRC, L.P. (collectively, the "Funds"). As of the date of this filing: Birch Run Capital Partners, L.P. directly holds 55,446 shares of Common Stock, 94,462 Series A Warrants, and 74,954 Series B Warrants; Walloon BRC, L.P. directly holds 170,676 shares of Common Stock, 290,778 Series A Warrants, and 230,727 Series B Warrants; and Pike BRC, L.P. directly holds 199,122 shares of Common Stock, 339,241 Series A Warrants, and 269,181 Series B Warrants.

F3 · ownership.nature: Birch Run Capital GP, L.L.C. serves as the General Partner to Birch Run Capital Partners, L.P., Walloon BRC GP, L.L.C. serves as the General Partner to Walloon BRC, L.P. and Pike BRC GP, L.L.C. serves as the General Partner to Pike BRC, L.P. (collectively, "the General Partners"). Daniel Beltzman and Gregory Smith are the Co-Managing Members of the General Partners. As owners of the General Partners to the Funds, Messrs. Beltzman and Smith may share in an allocation of the profits of the Funds.

F4 · ownership.nature: Birch Run Capital Advisors, L.P. (the "Adviser") serves as the Investment Adviser to the Funds. Pursuant to management agreements among the Adviser, the Funds, and their respective general partners, the Adviser has complete and unlimited discretion and authority with respect to the Funds' investments and voting power over investments. In connection with the services provided by the Adviser, the Adviser receives an asset-based management fee that does not confer any pecuniary interest in the securities held by the Funds. BRC Advisors GP, L.L.C. ("Adviser GP") is the General Partner to the Adviser. Daniel Beltzman and Gregory Smith are the Limited Partners of the Adviser and the Co-Managing Members of the Adviser GP. The Adviser, the Adviser GP, Daniel Beltzman and Gregory Smith may be deemed to share voting and dispositive power over the reported securities.

F5 · ownership.nature: Each of the Adviser, the Adviser GP, Daniel Beltzman, and Gregory Smith disclaim beneficial ownership of the reported securities except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

SEC source: 0001062993-18-000711 · form4.xml · derivative · entry 10

Beltzman Daniel Gordon · CIK 0001550099 · Director · 10% owner

Smith Gregory Howard · CIK 0001550336 · 10% owner

Birch Run Capital Advisors, LP · CIK 0001541457 · 10% owner

BRC Advisors GP, LLC · CIK 0001599312 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By Walloon BRC, LP

Disclosed balance after: 230,727

Underlying: Common Stock · 230,727 shares

Expires 2028-02-09

F1 · kind: On February 9, 2018 (the "Effective Date"), the Issuer's Amended Prepackaged Plan of Reorganization (the "Plan") became effective, and the Issuer emerged from bankruptcy proceedings. On the Effective Date, all outstanding shares of the Issuer's common stock, par value $0.01 per share ("Old Common Stock") and all rights of any holder in respect thereof were cancelled and extinguished. Pursuant to the Plan, on the Effective Date, each holder of Old Common Stock (including the Reporting Persons) received, in respect of one share of Old Common Stock (i) 0.05689208 shares of new common stock, par value $0.01 per share ("Common Stock"), (ii) 0.09692659 Series A Warrants to purchase an equivalent number of shares of Common Stock, and 0.07690920 Series B Warrants to purchase an equivalent number of shares of Common Stock, in all cases, subject to rounding with no fractional shares or warrants issuable. Such transaction was involuntary and in accordance with the terms of the Plan.

F2 · ownership.nature: These securities are held directly by Birch Run Capital Partners, L.P., Walloon BRC, L.P., and Pike BRC, L.P. (collectively, the "Funds"). As of the date of this filing: Birch Run Capital Partners, L.P. directly holds 55,446 shares of Common Stock, 94,462 Series A Warrants, and 74,954 Series B Warrants; Walloon BRC, L.P. directly holds 170,676 shares of Common Stock, 290,778 Series A Warrants, and 230,727 Series B Warrants; and Pike BRC, L.P. directly holds 199,122 shares of Common Stock, 339,241 Series A Warrants, and 269,181 Series B Warrants.

F3 · ownership.nature: Birch Run Capital GP, L.L.C. serves as the General Partner to Birch Run Capital Partners, L.P., Walloon BRC GP, L.L.C. serves as the General Partner to Walloon BRC, L.P. and Pike BRC GP, L.L.C. serves as the General Partner to Pike BRC, L.P. (collectively, "the General Partners"). Daniel Beltzman and Gregory Smith are the Co-Managing Members of the General Partners. As owners of the General Partners to the Funds, Messrs. Beltzman and Smith may share in an allocation of the profits of the Funds.

F4 · ownership.nature: Birch Run Capital Advisors, L.P. (the "Adviser") serves as the Investment Adviser to the Funds. Pursuant to management agreements among the Adviser, the Funds, and their respective general partners, the Adviser has complete and unlimited discretion and authority with respect to the Funds' investments and voting power over investments. In connection with the services provided by the Adviser, the Adviser receives an asset-based management fee that does not confer any pecuniary interest in the securities held by the Funds. BRC Advisors GP, L.L.C. ("Adviser GP") is the General Partner to the Adviser. Daniel Beltzman and Gregory Smith are the Limited Partners of the Adviser and the Co-Managing Members of the Adviser GP. The Adviser, the Adviser GP, Daniel Beltzman and Gregory Smith may be deemed to share voting and dispositive power over the reported securities.

F5 · ownership.nature: Each of the Adviser, the Adviser GP, Daniel Beltzman, and Gregory Smith disclaim beneficial ownership of the reported securities except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

SEC source: 0001062993-18-000711 · form4.xml · derivative · entry 9

Beltzman Daniel Gordon · CIK 0001550099 · Director · 10% owner

Smith Gregory Howard · CIK 0001550336 · 10% owner

Birch Run Capital Advisors, LP · CIK 0001541457 · 10% owner

BRC Advisors GP, LLC · CIK 0001599312 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By Walloon BRC, LP

Disclosed balance after: 290,778

Underlying: Common Stock · 290,778 shares

Expires 2028-02-09

F1 · kind: On February 9, 2018 (the "Effective Date"), the Issuer's Amended Prepackaged Plan of Reorganization (the "Plan") became effective, and the Issuer emerged from bankruptcy proceedings. On the Effective Date, all outstanding shares of the Issuer's common stock, par value $0.01 per share ("Old Common Stock") and all rights of any holder in respect thereof were cancelled and extinguished. Pursuant to the Plan, on the Effective Date, each holder of Old Common Stock (including the Reporting Persons) received, in respect of one share of Old Common Stock (i) 0.05689208 shares of new common stock, par value $0.01 per share ("Common Stock"), (ii) 0.09692659 Series A Warrants to purchase an equivalent number of shares of Common Stock, and 0.07690920 Series B Warrants to purchase an equivalent number of shares of Common Stock, in all cases, subject to rounding with no fractional shares or warrants issuable. Such transaction was involuntary and in accordance with the terms of the Plan.

F2 · ownership.nature: These securities are held directly by Birch Run Capital Partners, L.P., Walloon BRC, L.P., and Pike BRC, L.P. (collectively, the "Funds"). As of the date of this filing: Birch Run Capital Partners, L.P. directly holds 55,446 shares of Common Stock, 94,462 Series A Warrants, and 74,954 Series B Warrants; Walloon BRC, L.P. directly holds 170,676 shares of Common Stock, 290,778 Series A Warrants, and 230,727 Series B Warrants; and Pike BRC, L.P. directly holds 199,122 shares of Common Stock, 339,241 Series A Warrants, and 269,181 Series B Warrants.

F3 · ownership.nature: Birch Run Capital GP, L.L.C. serves as the General Partner to Birch Run Capital Partners, L.P., Walloon BRC GP, L.L.C. serves as the General Partner to Walloon BRC, L.P. and Pike BRC GP, L.L.C. serves as the General Partner to Pike BRC, L.P. (collectively, "the General Partners"). Daniel Beltzman and Gregory Smith are the Co-Managing Members of the General Partners. As owners of the General Partners to the Funds, Messrs. Beltzman and Smith may share in an allocation of the profits of the Funds.

F4 · ownership.nature: Birch Run Capital Advisors, L.P. (the "Adviser") serves as the Investment Adviser to the Funds. Pursuant to management agreements among the Adviser, the Funds, and their respective general partners, the Adviser has complete and unlimited discretion and authority with respect to the Funds' investments and voting power over investments. In connection with the services provided by the Adviser, the Adviser receives an asset-based management fee that does not confer any pecuniary interest in the securities held by the Funds. BRC Advisors GP, L.L.C. ("Adviser GP") is the General Partner to the Adviser. Daniel Beltzman and Gregory Smith are the Limited Partners of the Adviser and the Co-Managing Members of the Adviser GP. The Adviser, the Adviser GP, Daniel Beltzman and Gregory Smith may be deemed to share voting and dispositive power over the reported securities.

F5 · ownership.nature: Each of the Adviser, the Adviser GP, Daniel Beltzman, and Gregory Smith disclaim beneficial ownership of the reported securities except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

SEC source: 0001062993-18-000711 · form4.xml · derivative · entry 8

Beltzman Daniel Gordon · CIK 0001550099 · Director · 10% owner

Smith Gregory Howard · CIK 0001550336 · 10% owner

Birch Run Capital Advisors, LP · CIK 0001541457 · 10% owner

BRC Advisors GP, LLC · CIK 0001599312 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By Birch Run Capital Partners, LP

Disclosed balance after: 74,954

Underlying: Common Stock · 74,954 shares

Expires 2028-02-09

F1 · kind: On February 9, 2018 (the "Effective Date"), the Issuer's Amended Prepackaged Plan of Reorganization (the "Plan") became effective, and the Issuer emerged from bankruptcy proceedings. On the Effective Date, all outstanding shares of the Issuer's common stock, par value $0.01 per share ("Old Common Stock") and all rights of any holder in respect thereof were cancelled and extinguished. Pursuant to the Plan, on the Effective Date, each holder of Old Common Stock (including the Reporting Persons) received, in respect of one share of Old Common Stock (i) 0.05689208 shares of new common stock, par value $0.01 per share ("Common Stock"), (ii) 0.09692659 Series A Warrants to purchase an equivalent number of shares of Common Stock, and 0.07690920 Series B Warrants to purchase an equivalent number of shares of Common Stock, in all cases, subject to rounding with no fractional shares or warrants issuable. Such transaction was involuntary and in accordance with the terms of the Plan.

F2 · ownership.nature: These securities are held directly by Birch Run Capital Partners, L.P., Walloon BRC, L.P., and Pike BRC, L.P. (collectively, the "Funds"). As of the date of this filing: Birch Run Capital Partners, L.P. directly holds 55,446 shares of Common Stock, 94,462 Series A Warrants, and 74,954 Series B Warrants; Walloon BRC, L.P. directly holds 170,676 shares of Common Stock, 290,778 Series A Warrants, and 230,727 Series B Warrants; and Pike BRC, L.P. directly holds 199,122 shares of Common Stock, 339,241 Series A Warrants, and 269,181 Series B Warrants.

F3 · ownership.nature: Birch Run Capital GP, L.L.C. serves as the General Partner to Birch Run Capital Partners, L.P., Walloon BRC GP, L.L.C. serves as the General Partner to Walloon BRC, L.P. and Pike BRC GP, L.L.C. serves as the General Partner to Pike BRC, L.P. (collectively, "the General Partners"). Daniel Beltzman and Gregory Smith are the Co-Managing Members of the General Partners. As owners of the General Partners to the Funds, Messrs. Beltzman and Smith may share in an allocation of the profits of the Funds.

F4 · ownership.nature: Birch Run Capital Advisors, L.P. (the "Adviser") serves as the Investment Adviser to the Funds. Pursuant to management agreements among the Adviser, the Funds, and their respective general partners, the Adviser has complete and unlimited discretion and authority with respect to the Funds' investments and voting power over investments. In connection with the services provided by the Adviser, the Adviser receives an asset-based management fee that does not confer any pecuniary interest in the securities held by the Funds. BRC Advisors GP, L.L.C. ("Adviser GP") is the General Partner to the Adviser. Daniel Beltzman and Gregory Smith are the Limited Partners of the Adviser and the Co-Managing Members of the Adviser GP. The Adviser, the Adviser GP, Daniel Beltzman and Gregory Smith may be deemed to share voting and dispositive power over the reported securities.

F5 · ownership.nature: Each of the Adviser, the Adviser GP, Daniel Beltzman, and Gregory Smith disclaim beneficial ownership of the reported securities except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

SEC source: 0001062993-18-000711 · form4.xml · derivative · entry 7

Beltzman Daniel Gordon · CIK 0001550099 · Director · 10% owner

Smith Gregory Howard · CIK 0001550336 · 10% owner

Birch Run Capital Advisors, LP · CIK 0001541457 · 10% owner

BRC Advisors GP, LLC · CIK 0001599312 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By Birch Run Capital Partners, LP

Disclosed balance after: 94,462

Underlying: Common Stock · 94,462 shares

Expires 2028-02-09

F1 · kind: On February 9, 2018 (the "Effective Date"), the Issuer's Amended Prepackaged Plan of Reorganization (the "Plan") became effective, and the Issuer emerged from bankruptcy proceedings. On the Effective Date, all outstanding shares of the Issuer's common stock, par value $0.01 per share ("Old Common Stock") and all rights of any holder in respect thereof were cancelled and extinguished. Pursuant to the Plan, on the Effective Date, each holder of Old Common Stock (including the Reporting Persons) received, in respect of one share of Old Common Stock (i) 0.05689208 shares of new common stock, par value $0.01 per share ("Common Stock"), (ii) 0.09692659 Series A Warrants to purchase an equivalent number of shares of Common Stock, and 0.07690920 Series B Warrants to purchase an equivalent number of shares of Common Stock, in all cases, subject to rounding with no fractional shares or warrants issuable. Such transaction was involuntary and in accordance with the terms of the Plan.

F2 · ownership.nature: These securities are held directly by Birch Run Capital Partners, L.P., Walloon BRC, L.P., and Pike BRC, L.P. (collectively, the "Funds"). As of the date of this filing: Birch Run Capital Partners, L.P. directly holds 55,446 shares of Common Stock, 94,462 Series A Warrants, and 74,954 Series B Warrants; Walloon BRC, L.P. directly holds 170,676 shares of Common Stock, 290,778 Series A Warrants, and 230,727 Series B Warrants; and Pike BRC, L.P. directly holds 199,122 shares of Common Stock, 339,241 Series A Warrants, and 269,181 Series B Warrants.

F3 · ownership.nature: Birch Run Capital GP, L.L.C. serves as the General Partner to Birch Run Capital Partners, L.P., Walloon BRC GP, L.L.C. serves as the General Partner to Walloon BRC, L.P. and Pike BRC GP, L.L.C. serves as the General Partner to Pike BRC, L.P. (collectively, "the General Partners"). Daniel Beltzman and Gregory Smith are the Co-Managing Members of the General Partners. As owners of the General Partners to the Funds, Messrs. Beltzman and Smith may share in an allocation of the profits of the Funds.

F4 · ownership.nature: Birch Run Capital Advisors, L.P. (the "Adviser") serves as the Investment Adviser to the Funds. Pursuant to management agreements among the Adviser, the Funds, and their respective general partners, the Adviser has complete and unlimited discretion and authority with respect to the Funds' investments and voting power over investments. In connection with the services provided by the Adviser, the Adviser receives an asset-based management fee that does not confer any pecuniary interest in the securities held by the Funds. BRC Advisors GP, L.L.C. ("Adviser GP") is the General Partner to the Adviser. Daniel Beltzman and Gregory Smith are the Limited Partners of the Adviser and the Co-Managing Members of the Adviser GP. The Adviser, the Adviser GP, Daniel Beltzman and Gregory Smith may be deemed to share voting and dispositive power over the reported securities.

F5 · ownership.nature: Each of the Adviser, the Adviser GP, Daniel Beltzman, and Gregory Smith disclaim beneficial ownership of the reported securities except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any such reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.

SEC source: 0001062993-18-000711 · form4.xml · derivative · entry 6

Beltzman Daniel Gordon · CIK 0001550099 · Director · 10% owner

Smith Gregory Howard · CIK 0001550336 · 10% owner

Birch Run Capital Advisors, LP · CIK 0001541457 · 10% owner

BRC Advisors GP, LLC · CIK 0001599312 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 9,687

Underlying: Common Stock · 9,687 shares

Expires 2028-02-09

F1 · kind: On February 9, 2018 (the "Effective Date"), the Issuer's Amended Prepackaged Plan of Reorganization (the "Plan") became effective, and the Issuer emerged from bankruptcy proceedings. On the Effective Date, all outstanding shares of the Issuer's common stock, par value $0.01 per share ("Old Common Stock") and all rights of any holder in respect thereof were cancelled and extinguished. Pursuant to the Plan, on the Effective Date, each holder of Old Common Stock (including the Reporting Persons) received, in respect of one share of Old Common Stock (i) 0.05689208 shares of new common stock, par value $0.01 per share ("Common Stock"), (ii) 0.09692659 Series A Warrants to purchase an equivalent number of shares of Common Stock, and 0.07690920 Series B Warrants to purchase an equivalent number of shares of Common Stock, in all cases, subject to rounding with no fractional shares or warrants issuable. Such transaction was involuntary and in accordance with the terms of the Plan.

SEC source: 0001062993-18-000711 · form4.xml · derivative · entry 5

Beltzman Daniel Gordon · CIK 0001550099 · Director · 10% owner

Smith Gregory Howard · CIK 0001550336 · 10% owner

Birch Run Capital Advisors, LP · CIK 0001541457 · 10% owner

BRC Advisors GP, LLC · CIK 0001599312 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 12,209

Underlying: Common Stock · 12,209 shares

Expires 2028-02-09

F1 · kind: On February 9, 2018 (the "Effective Date"), the Issuer's Amended Prepackaged Plan of Reorganization (the "Plan") became effective, and the Issuer emerged from bankruptcy proceedings. On the Effective Date, all outstanding shares of the Issuer's common stock, par value $0.01 per share ("Old Common Stock") and all rights of any holder in respect thereof were cancelled and extinguished. Pursuant to the Plan, on the Effective Date, each holder of Old Common Stock (including the Reporting Persons) received, in respect of one share of Old Common Stock (i) 0.05689208 shares of new common stock, par value $0.01 per share ("Common Stock"), (ii) 0.09692659 Series A Warrants to purchase an equivalent number of shares of Common Stock, and 0.07690920 Series B Warrants to purchase an equivalent number of shares of Common Stock, in all cases, subject to rounding with no fractional shares or warrants issuable. Such transaction was involuntary and in accordance with the terms of the Plan.

SEC source: 0001062993-17-004077 · form4.xml · derivative · entry 6

Beltzman Daniel Gordon · CIK 0001550099 · Director · 10% owner

Smith Gregory Howard · CIK 0001550336 · 10% owner

Birch Run Capital Advisors, LP · CIK 0001541457 · 10% owner

BRC Advisors GP, LLC · CIK 0001599312 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 90,278 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: The Reporting Person, Daniel Beltzman, was awarded a grant of 90,278 restricted stock units (RSUs) of Walter Investment Management Corp. (the "Issuer") pursuant to the Issuer's 2017 Omnibus Incentive Plan. The RSUs convert into Common Stock on a one-for-one basis. The RSUs vest and are settled immediately upon grant. Following the award, Mr. Beltzman directly holds 125,960.41 shares of common stock of the Issuer for which he exercises sole voting and dispositive power.

F1 · derivative.exercise_date: The Reporting Person, Daniel Beltzman, was awarded a grant of 90,278 restricted stock units (RSUs) of Walter Investment Management Corp. (the "Issuer") pursuant to the Issuer's 2017 Omnibus Incentive Plan. The RSUs convert into Common Stock on a one-for-one basis. The RSUs vest and are settled immediately upon grant. Following the award, Mr. Beltzman directly holds 125,960.41 shares of common stock of the Issuer for which he exercises sole voting and dispositive power.

F1 · derivative.expiration_date: The Reporting Person, Daniel Beltzman, was awarded a grant of 90,278 restricted stock units (RSUs) of Walter Investment Management Corp. (the "Issuer") pursuant to the Issuer's 2017 Omnibus Incentive Plan. The RSUs convert into Common Stock on a one-for-one basis. The RSUs vest and are settled immediately upon grant. Following the award, Mr. Beltzman directly holds 125,960.41 shares of common stock of the Issuer for which he exercises sole voting and dispositive power.

SEC source: 0001062993-17-004077 · form4.xml · derivative · entry 5

Beltzman Daniel Gordon · CIK 0001550099 · Director · 10% owner

Smith Gregory Howard · CIK 0001550336 · 10% owner

Birch Run Capital Advisors, LP · CIK 0001541457 · 10% owner

BRC Advisors GP, LLC · CIK 0001599312 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 90,278

Underlying: Common Stock · 90,278 shares

Expires not disclosed

F1 · derivative.exercise_price: The Reporting Person, Daniel Beltzman, was awarded a grant of 90,278 restricted stock units (RSUs) of Walter Investment Management Corp. (the "Issuer") pursuant to the Issuer's 2017 Omnibus Incentive Plan. The RSUs convert into Common Stock on a one-for-one basis. The RSUs vest and are settled immediately upon grant. Following the award, Mr. Beltzman directly holds 125,960.41 shares of common stock of the Issuer for which he exercises sole voting and dispositive power.

F1 · derivative.exercise_date: The Reporting Person, Daniel Beltzman, was awarded a grant of 90,278 restricted stock units (RSUs) of Walter Investment Management Corp. (the "Issuer") pursuant to the Issuer's 2017 Omnibus Incentive Plan. The RSUs convert into Common Stock on a one-for-one basis. The RSUs vest and are settled immediately upon grant. Following the award, Mr. Beltzman directly holds 125,960.41 shares of common stock of the Issuer for which he exercises sole voting and dispositive power.

F1 · derivative.expiration_date: The Reporting Person, Daniel Beltzman, was awarded a grant of 90,278 restricted stock units (RSUs) of Walter Investment Management Corp. (the "Issuer") pursuant to the Issuer's 2017 Omnibus Incentive Plan. The RSUs convert into Common Stock on a one-for-one basis. The RSUs vest and are settled immediately upon grant. Following the award, Mr. Beltzman directly holds 125,960.41 shares of common stock of the Issuer for which he exercises sole voting and dispositive power.

SEC source: 0001062993-17-004077 · form4.xml · nonDerivative · entry 1

Beltzman Daniel Gordon · CIK 0001550099 · Director · 10% owner

Smith Gregory Howard · CIK 0001550336 · 10% owner

Birch Run Capital Advisors, LP · CIK 0001541457 · 10% owner

BRC Advisors GP, LLC · CIK 0001599312 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 125,960.41

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: The Reporting Person, Daniel Beltzman, was awarded a grant of 90,278 restricted stock units (RSUs) of Walter Investment Management Corp. (the "Issuer") pursuant to the Issuer's 2017 Omnibus Incentive Plan. The RSUs convert into Common Stock on a one-for-one basis. The RSUs vest and are settled immediately upon grant. Following the award, Mr. Beltzman directly holds 125,960.41 shares of common stock of the Issuer for which he exercises sole voting and dispositive power.