UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO § 240.13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
§ 240.13d-2(a)
(Amendment No. 2)1
PDF SOLUTIONS, INC.
(Name of Issuer)
Common Stock, $0.00015 par value
(Title of Class of Securities)
693282105
(CUSIP Number)
ERIC SINGER
VIEX CAPITAL ADVISORS, LLC
825 Third Avenue, 33rd Floor
New York, New York 10022
STEVE WOLOSKY, ESQ.
ELIZABETH GONZALEZ-SUSSMAN, ESQ.
OLSHAN FROME WOLOSKY LLP
1325 Avenue of the Americas
New York, New York 10019
(212) 451-2300
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
April 17, 2019
(Date of Event Which Requires Filing of This Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box ¨.
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See § 240.13d-7 for other parties to whom copies are to be sent.
1 The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
CUSIP NO. 693282105
| 1 | NAME OF REPORTING PERSON | ||||||||||||||||||
| VIEX Opportunities Fund, LP – Series One* | |||||||||||||||||||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☐ | |||||||||||||||||
| (b) ☐ | |||||||||||||||||||
| 3 | SEC USE ONLY | ||||||||||||||||||
| 4 | SOURCE OF FUNDS | ||||||||||||||||||
| WC | |||||||||||||||||||
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ☐ | |||||||||||||||||
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||||||||||
| DELAWARE | |||||||||||||||||||
| NUMBER OF | 7 | SOLE VOTING POWER | |||||||||||||||||
| SHARES | |||||||||||||||||||
| BENEFICIALLY | - 0 - | ||||||||||||||||||
| OWNED BY | 8 | SHARED VOTING POWER | |||||||||||||||||
| EACH | |||||||||||||||||||
| REPORTING | 1,197,974 | ||||||||||||||||||
| PERSON WITH | 9 | SOLE DISPOSITIVE POWER | |||||||||||||||||
| - 0 - | |||||||||||||||||||
| 10 | SHARED DISPOSITIVE POWER | ||||||||||||||||||
| 1,197,974 | |||||||||||||||||||
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||||||||||
| 1,197,974 | |||||||||||||||||||
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | ☐ | |||||||||||||||||
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||||||||||||||||
| 3.7% | |||||||||||||||||||
| 14 | TYPE OF REPORTING PERSON | ||||||||||||||||||
| PN | |||||||||||||||||||
_____________
* This Series One is part of a series of VIEX Opportunities Fund, LP, a series limited partnership.
| 2 |
CUSIP NO. 693282105
| 1 | NAME OF REPORTING PERSON | ||||||||||||||||||
| VIEX Opportunities Fund, LP – Series Two* | |||||||||||||||||||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☐ | |||||||||||||||||
| (b) ☐ | |||||||||||||||||||
| 3 | SEC USE ONLY | ||||||||||||||||||
| 4 | SOURCE OF FUNDS | ||||||||||||||||||
| WC | |||||||||||||||||||
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ☐ | |||||||||||||||||
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||||||||||
| DELAWARE | |||||||||||||||||||
| NUMBER OF | 7 | SOLE VOTING POWER | |||||||||||||||||
| SHARES | |||||||||||||||||||
| BENEFICIALLY | - 0 - | ||||||||||||||||||
| OWNED BY | 8 | SHARED VOTING POWER | |||||||||||||||||
| EACH | |||||||||||||||||||
| REPORTING | 113,744 | ||||||||||||||||||
| PERSON WITH | 9 | SOLE DISPOSITIVE POWER | |||||||||||||||||
| - 0 - | |||||||||||||||||||
| 10 | SHARED DISPOSITIVE POWER | ||||||||||||||||||
| 113,744 | |||||||||||||||||||
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||||||||||
| 113,744 | |||||||||||||||||||
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | ☐ | |||||||||||||||||
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||||||||||||||||
| Less than 1% | |||||||||||||||||||
| 14 | TYPE OF REPORTING PERSON | ||||||||||||||||||
| PN | |||||||||||||||||||
_____________
* This Series Two is part of a series of VIEX Opportunities Fund, LP, a Delaware series limited partnership.
| 3 |
CUSIP NO. 693282105
| 1 | NAME OF REPORTING PERSON | ||||||||||||||||||
| VIEX Special Opportunities Fund II, LP | |||||||||||||||||||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☐ | |||||||||||||||||
| (b) ☐ | |||||||||||||||||||
| 3 | SEC USE ONLY | ||||||||||||||||||
| 4 | SOURCE OF FUNDS | ||||||||||||||||||
| WC | |||||||||||||||||||
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ☐ | |||||||||||||||||
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||||||||||
| DELAWARE | |||||||||||||||||||
| NUMBER OF | 7 | SOLE VOTING POWER | |||||||||||||||||
| SHARES | |||||||||||||||||||
| BENEFICIALLY | - 0 - | ||||||||||||||||||
| OWNED BY | 8 | SHARED VOTING POWER | |||||||||||||||||
| EACH | |||||||||||||||||||
| REPORTING | 312,875 | ||||||||||||||||||
| PERSON WITH | 9 | SOLE DISPOSITIVE POWER | |||||||||||||||||
| - 0 - | |||||||||||||||||||
| 10 | SHARED DISPOSITIVE POWER | ||||||||||||||||||
| 312,875 | |||||||||||||||||||
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||||||||||
| 312,875 | |||||||||||||||||||
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | ☐ | |||||||||||||||||
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||||||||||||||||
| Less than 1% | |||||||||||||||||||
| 14 | TYPE OF REPORTING PERSON | ||||||||||||||||||
| PN | |||||||||||||||||||
| 4 |
CUSIP NO. 693282105
| 1 | NAME OF REPORTING PERSON | ||||||||||||||||||
| VIEX GP, LLC | |||||||||||||||||||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☐ | |||||||||||||||||
| (b) ☐ | |||||||||||||||||||
| 3 | SEC USE ONLY | ||||||||||||||||||
| 4 | SOURCE OF FUNDS | ||||||||||||||||||
| AF | |||||||||||||||||||
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ☐ | |||||||||||||||||
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||||||||||
| DELAWARE | |||||||||||||||||||
| NUMBER OF | 7 | SOLE VOTING POWER | |||||||||||||||||
| SHARES | |||||||||||||||||||
| BENEFICIALLY | - 0 - | ||||||||||||||||||
| OWNED BY | 8 | SHARED VOTING POWER | |||||||||||||||||
| EACH | |||||||||||||||||||
| REPORTING | 1,311,718 | ||||||||||||||||||
| PERSON WITH | 9 | SOLE DISPOSITIVE POWER | |||||||||||||||||
| - 0 - | |||||||||||||||||||
| 10 | SHARED DISPOSITIVE POWER | ||||||||||||||||||
| 1,311,718 | |||||||||||||||||||
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||||||||||
| 1,311,718 | |||||||||||||||||||
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | ☐ | |||||||||||||||||
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||||||||||||||||
| 4.0% | |||||||||||||||||||
| 14 | TYPE OF REPORTING PERSON | ||||||||||||||||||
| OO | |||||||||||||||||||
| 5 |
CUSIP NO. 693282105
| 1 | NAME OF REPORTING PERSON | ||||||||||||||||||
| VIEX Special Opportunities GP II, LLC | |||||||||||||||||||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☐ | |||||||||||||||||
| (b) ☐ | |||||||||||||||||||
| 3 | SEC USE ONLY | ||||||||||||||||||
| 4 | SOURCE OF FUNDS | ||||||||||||||||||
| AF | |||||||||||||||||||
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ☐ | |||||||||||||||||
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||||||||||
| DELAWARE | |||||||||||||||||||
| NUMBER OF | 7 | SOLE VOTING POWER | |||||||||||||||||
| SHARES | |||||||||||||||||||
| BENEFICIALLY | - 0 - | ||||||||||||||||||
| OWNED BY | 8 | SHARED VOTING POWER | |||||||||||||||||
| EACH | |||||||||||||||||||
| REPORTING | 312,875 | ||||||||||||||||||
| PERSON WITH | 9 | SOLE DISPOSITIVE POWER | |||||||||||||||||
| - 0 - | |||||||||||||||||||
| 10 | SHARED DISPOSITIVE POWER | ||||||||||||||||||
| 312,875 | |||||||||||||||||||
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||||||||||
| 312,875 | |||||||||||||||||||
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | ☐ | |||||||||||||||||
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||||||||||||||||
| Less than 1% | |||||||||||||||||||
| 14 | TYPE OF REPORTING PERSON | ||||||||||||||||||
| OO | |||||||||||||||||||
| 6 |
CUSIP NO. 693282105
| 1 | NAME OF REPORTING PERSON | ||||||||||||||||||
| VIEX Capital Advisors, LLC | |||||||||||||||||||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☐ | |||||||||||||||||
| (b) ☐ | |||||||||||||||||||
| 3 | SEC USE ONLY | ||||||||||||||||||
| 4 | SOURCE OF FUNDS | ||||||||||||||||||
| AF | |||||||||||||||||||
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ☐ | |||||||||||||||||
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||||||||||
| DELAWARE | |||||||||||||||||||
| NUMBER OF | 7 | SOLE VOTING POWER | |||||||||||||||||
| SHARES | |||||||||||||||||||
| BENEFICIALLY | - 0 - | ||||||||||||||||||
| OWNED BY | 8 | SHARED VOTING POWER | |||||||||||||||||
| EACH | |||||||||||||||||||
| REPORTING | 1,624,593 | ||||||||||||||||||
| PERSON WITH | 9 | SOLE DISPOSITIVE POWER | |||||||||||||||||
| - 0 - | |||||||||||||||||||
| 10 | SHARED DISPOSITIVE POWER | ||||||||||||||||||
| 1,624,593 | |||||||||||||||||||
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||||||||||
| 1,624,593 | |||||||||||||||||||
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | ☐ | |||||||||||||||||
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||||||||||||||||
| 4.98% | |||||||||||||||||||
| 14 | TYPE OF REPORTING PERSON | ||||||||||||||||||
| IA | |||||||||||||||||||
| 7 |
CUSIP NO. 693282105
| 1 | NAME OF REPORTING PERSON | ||||||||||||||||||
| Eric Singer | |||||||||||||||||||
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☐ | |||||||||||||||||
| (b) ☐ | |||||||||||||||||||
| 3 | SEC USE ONLY | ||||||||||||||||||
| 4 | SOURCE OF FUNDS | ||||||||||||||||||
| AF | |||||||||||||||||||
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ☐ | |||||||||||||||||
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||||||||||
| USA | |||||||||||||||||||
| NUMBER OF | 7 | SOLE VOTING POWER | |||||||||||||||||
| SHARES | |||||||||||||||||||
| BENEFICIALLY | - 0 - | ||||||||||||||||||
| OWNED BY | 8 | SHARED VOTING POWER | |||||||||||||||||
| EACH | |||||||||||||||||||
| REPORTING | 1,624,593 | ||||||||||||||||||
| PERSON WITH | 9 | SOLE DISPOSITIVE POWER | |||||||||||||||||
| - 0 - | |||||||||||||||||||
| 10 | SHARED DISPOSITIVE POWER | ||||||||||||||||||
| 1,624,593 | |||||||||||||||||||
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||||||||||
| 1,624,593 | |||||||||||||||||||
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | ☐ | |||||||||||||||||
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||||||||||||||||
| 4.98% | |||||||||||||||||||
| 14 | TYPE OF REPORTING PERSON | ||||||||||||||||||
| IN | |||||||||||||||||||
| 8 |
CUSIP NO. 693282105
The following constitutes Amendment No. 2 to the Schedule 13D filed by the undersigned (the “Amendment No. 2”). This Amendment No. 2 amends the Schedule 13D as specifically set forth herein.
| Item 3. | Source and Amount of Funds or Other Consideration. |
Item 3 is hereby amended and restated to read as follows:
The Shares purchased by Series One were purchased with working capital (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business) in open market purchases, except as otherwise noted, as set forth in Schedule A, which is incorporated by reference herein. The aggregate purchase price of the 1,197,974 Shares beneficially owned by Series One is approximately $11,503,527, including brokerage commissions.
The Shares purchased by Series Two were purchased with working capital (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business) in open market purchases, except as otherwise noted, as set forth in Schedule A, which is incorporated by reference herein. The aggregate purchase price of the 113,744 Shares beneficially owned by Series Two is approximately $909,438, including brokerage commissions.
The Shares purchased by VSO II were purchased with working capital (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business) in open market purchases, except as otherwise noted, as set forth in Schedule A, which is incorporated by reference herein. The aggregate purchase price of the 312,875 Shares beneficially owned by VSO II is approximately $2,709,267, including brokerage commissions.
| Item 5. | Interest in Securities of the Issuer. |
Items 5(a)-(c) and (e) are hereby amended and restated to read as follows:
The aggregate percentage of Shares reported owned by each Reporting Person is based upon 32,595,723 Shares outstanding, which is the total number of Shares outstanding as of March 1, 2019 as reported in the Issuer’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission on March 8, 2019.
| A. | Series One |
| (a) | As of the close of business on April 19, 2019, Series One beneficially owned 1,197,974 Shares. |
Percentage: Approximately 3.7%
| (b) | 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 1,197,974 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 1,197,974 |
| (c) | The transactions in the Shares by Series One during the past sixty days are set forth in Schedule A and are incorporated herein by reference. |
| 9 |
CUSIP NO. 693282105
| B. | Series Two |
| (a) | As of the close of business on April 19, 2019, Series Two beneficially owned 113,744 Shares. |
Percentage: Less than 1%
| (b) | 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 113,744 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 113,744 |
| (c) | The transactions in the Shares by Series Two during the past sixty days are set forth in Schedule A and are incorporated herein by reference. |
| C. | VSO II |
| (a) | As of the close of business on April 19, 2019, VSO II beneficially owned 312,875 Shares. |
Percentage: Less than 1%
| (b) | 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 312,875 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 312,875 |
| (c) | The transactions in the Shares by VSO II during the past sixty days are set forth in Schedule A and are incorporated herein by reference. |
| D. | VIEX GP |
| (a) | VIEX GP, as the general partner of each of Series One and Series Two, may be deemed the beneficial owner of the (i) 1,197,974 Shares beneficially owned by Series One and (ii) 113,744 Shares owned by Series Two. |
Percentage: Approximately 4.0%
| (b) | 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 1,311,718 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 1,311,718 |
| (c) | VIEX GP has not entered into any transactions in the Shares during the past sixty days. The transactions in the shares on behalf of each of Series One and Series Two during the past sixty days are set forth in Schedule A and are incorporated herein by reference. |
| E. | VSO GP II |
| (a) | VSO GP II, as the general partner of VSO II, may be deemed the beneficial owner of the 312,875 Shares beneficially owned by VSO II. |
Percentage: Less than 1%
| 10 |
CUSIP NO. 693282105
| (b) | 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 312,875 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 312,875 |
| (c) | VSO GP II has not entered into any transactions in the during the past sixty days. The transactions in the Shares on behalf of VSO II during the past sixty days are set forth in Schedule A and are incorporated herein by reference. |
| F. | VIEX Capital |
| (a) | VIEX Capital, as the investment manager of each of Series One, Series Two and VSO II, may be deemed the beneficial owner of the (i) 1,197,974 Shares beneficially owned by Series One, (ii) 113,744 beneficially owned by Series Two and (iii) 312,875 Shares beneficially owned by VSO II. |
Percentage: Approximately 4.98%
| (b) | 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 1,624,593 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 1,624,593 |
| (c) | VIEX Capital has not entered into any transactions in the Shares during the past sixty days. The transactions in the Shares on behalf of each of Series One, Series Two and VSO II during the past sixty days set forth in Schedule A and are incorporated herein by reference. |
| G. | Eric Singer |
| (a) | Mr. Singer, as the managing member of VIEX GP, VSO GP II and VIEX Capital, may be deemed the beneficial owner of the (i) 1,197,974 Shares beneficially owned by Series One, (ii) 113,744 beneficially owned by Series Two, and (iii) 312,875 Shares beneficially owned by VSO II. |
Percentage: Approximately 4.98%
| (b) | 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 1,624,593 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 1,624,593 |
| (c) | Mr. Singer has not entered into any transactions in the Shares during the past sixty days. The transactions in the Shares on behalf of each of Series One, Series Two and VSO II during the past sixty days are set forth in Schedule A and are incorporated herein by reference. |
| (e) | The Reporting Persons ceased to be the beneficial owner of 5% or more of the Shares of the Issuer on April 17, 2019. |
Each Reporting Person, as a member of a “group” with the other Reporting Persons for the purposes of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended, may be deemed the beneficial owner of the Shares directly owned by the other Reporting Persons. Each Reporting Person disclaims beneficial ownership of such Shares except to the extent of his or its pecuniary interest therein.
| 11 |
CUSIP NO. 693282105
| Item 6. | Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer. |
Item 6 is hereby amended to add the following:
VSO II has sold short in the over-the-counter market American-style put options referencing an aggregate of 350,000 Shares, which have an exercise price of $12.50 and expire on November 15, 2019, as further detailed on Schedule A hereto, which is incorporated by reference herein.
| 12 |
CUSIP NO. 693282105
SIGNATURES
After reasonable inquiry and to the best of his knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.
Dated: April 19, 2019
| VIEX Opportunities Fund, LP – Series One | |||
| By: | VIEX GP, LLC General Partner | ||
| By: |
/s/ Eric Singer | ||
| Name: | Eric Singer | ||
| Title: | Managing Member | ||
| VIEX Opportunities Fund, LP – Series Two | |||
| By: | VIEX GP, LLC General Partner | ||
| By: |
/s/ Eric Singer | ||
| Name: | Eric Singer | ||
| Title: | Managing Member | ||
| VIEX Special Opportunities Fund II, LP | |||
| By: | VIEX Special Opportunities GP II, LLC General Partner | ||
| By: |
/s/ Eric Singer | ||
| Name: | Eric Singer | ||
| Title: | Managing Member | ||
| VIEX GP, LLC | |||
| By: | /s/ Eric Singer | ||
| Name: | Eric Singer | ||
| Title: | Managing Member | ||
| VIEX Special Opportunities GP II, LLC | |||
| By: | /s/ Eric Singer | ||
| Name: | Eric Singer | ||
| Title: | Managing Member | ||
| 13 |
CUSIP NO. 693282105
| VIEX Capital Advisors, LLC | |||
| By: |
/s/ Eric Singer | ||
| Name: | Eric Singer | ||
| Title: | Managing Member | ||
| /s/ Eric Singer | |
| Eric Singer |
| 14 |
CUSIP NO. 693282105
SCHEDULE A
Transactions in the Shares During the Past Sixty Days
| Nature of the Transaction |
Securities Purchased/(Sold) |
Price Per Share($) |
Date of Purchase / Sale |
VIEX opportunities fund, LP – Series one
| Sale of Common Stock | (2,109) | 12.3253 | 02/19/2019 |
| Sale of May 2019 Call Option ($7.50 Strike Price) | (458) | 4.7000 | 03/06/2019 |
| Sale of May 2019 Call Option ($5.00 Strike Price) | (721) | 6.9452 | 03/06/2019 |
| Sale of Common Stock | (6,131) | 13.5100 | 03/06/2019 |
| Purchase of August 2019 Call Options ($15.00 Strike Price) | 2,539 | 0.4761 | 03/07/2019 |
| Sale of May 2019 Call Option ($5.00 Strike Price) | (1,406) | 6.7000 | 03/07/2019 |
| Sale of Common Stock | (9,667) | 11.6715 | 03/07/2019 |
| Purchase of August 2019 Call Options ($15.00 Strike Price) | 243 | 0.5855 | 03/29/2019 |
| Sale of August 2019 Call Option ($15.00 Strike Price) | (2,782) | 0.8000 | 04/17/2019 |
| Sale of Common Stock | (4,246) | 13.5100 | 04/17/2019 |
| Sale of Common Stock | (100,099) | 13.1000 | 04/18/2019 |
VIEX opportunities fund, LP – Series two
| Sale of Common Stock | (238) | 12.3253 | 02/19/2019 |
| Sale of Common Stock | (582) | 11.8000 | 03/06/2019 |
| Sale of Common Stock | (918) | 11.6715 | 03/07/2019 |
| Sale of Common Stock | (403) | 13.5100 | 04/17/2019 |
| Sale of Common Stock | (9,505) | 13.1000 | 04/18/2019 |
CUSIP NO. 693282105
VIEX SPECIAL OPPORTUNITIES FUNd II, LP
| Purchase of August 2019 Put Options ($10.00 Strike Price)1 | 50 | 0.5000 | 02/19/2018 |
| Sale of Common Stock | (655) | 12.3253 | 02/19/2019 |
| Purchase of August 2019 Put Options ($10.00 Strike Price)1 | 1,100 | 0.5000 | 02/20/2019 |
| Purchase of August 2019 Put Options ($10.00 Strike Price)1 | 1,292 | 0.5000 | 02/25/2019 |
| Purchase of August 2019 Put Options ($10.00 Strike Price)1 | 2,159 | 0.5000 | 03/01/2019 |
| Purchase of August 2019 Put Options ($10.00 Strike Price)1 | 103 | 0.5000 | 03/04/2019 |
| Purchase of August 2019 Put Options ($10.00 Strike Price)1 | 202 | 0.5000 | 03/05/2019 |
| Sale of May 2019 Call Option ($5.00 Strike Price) | (169) | 6.9452 | 03/06/2019 |
| Sale of Common Stock | (1,602) | 11.8100 | 03/06/2019 |
| Sale of May 2019 Call Option ($5.00 Strike Price) | (331) | 6.7000 | 03/07/2019 |
| Purchase of August 2019 Call Options ($15.00 Strike Price) | 598 | 0.4761 | 03/07/2019 |
| Sale of Common Stock | (2,525) | 11.6715 | 03/07/2019 |
| Purchase of May 2019 Put Options ($7.50 Strike Price)1 | 3,500 | 0.1000 | 03/15/2019 |
| Purchase of August 2019 Put Options ($7.50 Strike Price) 1 | 2,252 | 0.2000 | 03/15/2019 |
| Purchase of August 2019 Call Options ($15.00 Strike Price) | 57 | 0.5855 | 03/29/2019 |
| Sale of August 2019 Call Options ($15.00 Strike Price) | (655) | 0.8000 | 04/17/2019 |
| Sale of Common Stock | (1,109) | 13.5100 | 04/17/2019 |
| Sale of Common Stock | (26,142) | 13.1000 | 04/18/2019 |
| Short Sale of November 2019 Put Options ($12.50 Strike Price) | (3,500) | 1.2643 | 04/18/2019 |
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1 Represents a purchase to cover a short position