SC 13D/A 1 v794949_sc13d-a.htm SC 13D/A

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13D/A

(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. 1)1

 

Data I/O Corporation

(Name of Issuer)

 

Common Stock, no par value

(Title of Class of Securities)

 

237690102

(CUSIP Number)

 

Lloyd I. Miller, III

222 Lakeview Avenue
Suite 160-365

West Palm Beach, FL 33401

(561) 287-5399

(Name, Address and Telephone Number of Person

Authorized to Receive Notices and Communications)

 

December 13, 2012

(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 o.

 

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 237690102

 

1

NAME OF REPORTING PERSONS

 

KAREN SINGER

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

(a) x

(b) o

3

SEC USE ONLY

 

4

SOURCE OF FUNDS

OO

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)

o
6

CITIZENSHIP OR PLACE OF ORGANIZATION

 

UNITED STATES OF AMERICA

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 7

SOLE VOTING POWER

 

314,154

8

SHARED VOTING POWER

 

-0-

9

SOLE DISPOSITIVE POWER

 

314,154

10

SHARED DISPOSITIVE POWER

 

-0-

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

314,154

12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

o
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

4.0%

14

TYPE OF REPORTING PERSON

 

IN

 

 
 

  

CUSIP 237690102

 

1

NAME OF REPORTING PERSONS

 

Lloyd I. Miller, III

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*

(a) x

(b) o

3

SEC USE ONLY

 

4

SOURCE OF FUNDS

PF-AF-OO

5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)

o
6

CITIZENSHIP OR PLACE OF ORGANIZATION

 

UNITED STATES OF AMERICA

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 7

SOLE VOTING POWER

 

303,425

8

SHARED VOTING POWER

 

-0-

9

SOLE DISPOSITIVE POWER

 

303,425

10

SHARED DISPOSITIVE POWER

 

-0-

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

303,425

12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

o
13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

3.9%

14

TYPE OF REPORTING PERSON

 

IN

 

 
 

  

SCHEDULE 13D/A1

 

This constitutes Amendment No. 1 to the statement on Schedule 13D (the “Amendment No. 1”) filed on behalf Karen Singer (“Singer”), as trustee of Singer Children’s Management Trust (the “Trust”), and Lloyd I. Miller, III (“Miller” and together with Singer, collectively the “Reporting Persons”), filed on October 1, 2012 (the “Statement”), relating to the common stock (the “Common Stock”), of Data I/O Corporation (the “Issuer”). The address of the principal executive offices of the Issuer is 6464 185th Avenue NE, Suite 101, Redmond, Washington 98052 . Unless specifically amended or modified hereby, the disclosure set forth in the Statement shall remain unchanged.

 

Item 3.Source and Amount of Funds or Other Consideration.

 

Item 3 of the Statement is hereby amended and restated in its entirety as follows:


Singer may be deemed to beneficially own 314,154 shares through the Trust, as follows:

 

Singer is the trustee of the Trust, which was created pursuant to the Trust Agreement, dated May 29, 1998 (the “Trust Agreement”). All of the Shares held by the Trust were purchased by funds generated and held by the Trust. The aggregate amount of funds used for the purchase of the Shares was approximately $649,620.00.

 

Miller may be deemed to beneficially own 303,425 Shares through Trust A-4, as described below:

 

Miller is the managing member of Milfam LLC (“Milfam LLC”), an Ohio limited liability company established pursuant to the Operating Agreement of Milfam LLC dated as of December 10, 1996, and Milfam LLC is the advisor to Trust A-4 (“Trust A-4”). Trust A was created pursuant to an Amended and Restated Trust Agreement, dated September 20, 1983 (the “Trust Agreement”). Pursuant to a Declaratory Judgment Order, entered on November 20, 1992 in the Court of Common Pleas, Probate Division, Hamilton County, Ohio, Trust A was split into four separate trusts, one of which is Trust A-4. Trust A-4 was further reformed by Order of the Delaware Chancery Court dated December 29, 2010 pursuant to which Milfam LLC was appointed advisor to Trust A-4. All of the Shares held by Trust A-4 were purchased with funds generated and held by Trust A-4. The aggregate purchase price for the shares of Common Stock purchased by Trust A-4 was approximately $632,463.00.

 

The aggregate purchase prices set forth in this Item 3 may include brokerage commissions and certain cost basis adjustments.

 

Item 4.Purpose of Transaction.

 

Item 4 of the Statement is hereby amended and restated in its entirety as follows:

 

As reported in the Statement filed on October 1, 2012, the Reporting Persons may be deemed to have formed a “group” and, at the time of such filing, had considered engaging in discussions with the Board of Directors and management of the Issuer and/or taking other actions to influence the corporate governance of the Issuer.

 

This Amendment No. 1 is being filed to report that, since the filing of the Statement, a material change occurred in the percentage of shares of Common Stock beneficially owned by the Reporting Persons. In addition, the Reporting Persons have engaged in discussions with the Board of Directors and management of the Issuer and have recommended two (2) candidates for appointment to the Board of Directors.

 

 
 

No Reporting Person has any present plan or proposal which would relate to or result in any of the matters set forth in subparagraphs (a) - (j) of Item 4 of Schedule 13D except as set forth herein or such as would occur upon completion of any of the actions discussed above. The Reporting Persons intend to review their investments in the Issuer on a continuing basis and engage in discussions with management and the Board concerning the business, operations and future plans of the Issuer. Depending on various factors including, without limitation, the Issuer’s financial position and investment strategy, the price levels of the Shares, conditions in the securities markets and general economic and industry conditions, the Reporting Persons may in the future take such actions with respect to their investments in the Issuer as they deem appropriate including, without limitation, seeking Board representation, making proposals to the Issuer concerning changes to the capitalization, ownership structure or operations of the Issuer, purchasing additional Shares, selling some or all of their Shares, engaging in short selling of or any hedging or similar transaction with respect to the Shares or changing their intention with respect to any and all matters referred to in Item 4.

 

Item 5.Interest in Securities of the Issuer.

 

Item 5 of the Statement is hereby amended and restated in its entirety as follows:

 

(a) Singer, as trustee of the Trust, may be deemed to beneficially own 314,154 Shares of the Issuer, comprising approximately 4.0% of the outstanding Shares of the Issuer, based on 7,867,486 Shares outstanding as reported in the Issuer’s Form 10-Q filed on November 13, 2012.

 

Miller may be deemed to beneficially own 303,425 Shares, which is equal to approximately 3.9% of the outstanding Shares of the Issuer, based on 7,867,486 Shares outstanding as reported in the Issuer’s Form 10-Q filed on November 13, 2012. As of the date hereof, 303,425 of the Shares beneficially owned by Miller are owned of record by Trust A-4.

 

Each of the Reporting Persons, as a member of a “group” with the other Reporting Persons for purposes of Rule 13d-5(b)(1) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), may be deemed to beneficially own the Shares owned by the other Reporting Persons. The filing of this Schedule 13D shall not be deemed an admission that the Reporting Persons are, for purposes of Section 13(d) of the Exchange Act, the beneficial owners of any Shares he or it does not directly own. Each of the Reporting Persons specifically disclaims beneficial ownership of the Shares reported herein that he or she does not directly own.

 

(b) Singer has sole dispositive and voting power over the Shares owned by the Trust as reported on this Schedule 13D.

 

Miller has sole dispositive and voting power for the Shares owned by Trust A-4 as reported on this Schedule 13D.

 

(c) The following table details the transactions effected by the Reporting Persons in the past 60 days.

 

 

Singer Children’s Management Trust

 

Date of Transaction Number of Shares Purchased Price Per Share
December 12, 2012 11,956 $1.50
December 13, 2012 41,273 $1.50

 

 

 
 

 

Lloyd I. Miller, III - Trust A-4

 

Date of Transaction Number of Shares Purchased Price Per Share
December 13, 2012 42,500 $1.50

 

 

(d) No person other than the Reporting Persons is known to have the right to receive, or the power to direct the receipt of dividends from, or proceeds from the sale of, the Shares.

 

(e) Not applicable.

 

Item 6.Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.

 

None.

 

Item 7.Material to be Filed as Exhibits.

 

None.

 

 
 

 

SIGNATURES

 

After reasonable inquiry and to the best of his knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated December 19, 2012

 

  KAREN SINGER
   
  By:  /s/ Karen Singer
     

 

 

  Lloyd I. Miller, III
   
  By:  /s/ Lloyd I. Miller, III