SC 13G/A

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No. 8)*

 

 

QuinStreet, Inc.

(Name of Issuer)

 

 

Common Stock, par value $0.001 per share

(Title of Class of Securities)

74874Q100

(CUSIP Number)

December 31, 2018

(Date of Event Which Requires Filing of this Statement)

 

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

☐ Rule 13d-1(b)

☐ Rule 13d-1(c)

☒ Rule 13d-1(d)

 

*

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 the disclosures provided in a prior cover page.

The information required in 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 to Schedule 13G).

 

 

 


   SCHEDULE 13G   
CUSIP No. 7874Q100       Page 2 of 8

 

  1.       

  Names of Reporting Persons

 

   Douglas Valenti

  2.      

  Check the Appropriate Box if a Member of a Group (see instructions)

  (a)  ☐        (b)  ☐

 

  3.      

  SEC USE ONLY

 

  4.      

  Citizenship or Place of Organization

 

  USA

Number of

Shares

  Beneficially  

Owned by

Each

Reporting

Person

With:

    5.     

  Sole Voting Power

 

  291,016 (1)

  6.     

  Shared Voting Power

 

  3,998,221 (2)

  7.     

  Sole Dispositive Power

 

  291,016 (1)

  8.     

  Shared Dispositive Power

 

  3,998,221 (2)

  9.      

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  4,289,237

10.      

  Check if the Aggregate Amount in Row (9) Excludes Certain Shares (see instructions)

 

11.      

  Percent of Class Represented by Amount in Row 9

 

  8.62% (3)

12.      

  Type of Reporting Person (see instructions)

 

  IN

 

(1)

Represents (i) 278,749 options to purchase shares of common stock held by Mr. Valenti exercisable within 60 days of December 31, 2018 and (ii) 12,267 restricted stock units “RSUs” held by Mr. Valenti that will vest within 60 days of December 31, 2018.

(2)

Represents (i) 3,991,318 shares of common stock held by The Valenti Living Trust, for which Mr. Valenti and Terri Valenti, Mr. Valenti’s wife, are co-trustees and (ii) 6,903 shares of common stock held by trusts, for which Mrs. Valenti is trustee, for the benefit of Mr. and Mrs. Valenti’s immediate family members over which Mr. Valenti may be deemed to have shared voting and dispositive power.

(3)

Based on 49,771,433 shares of common stock issued and outstanding as of December 31, 2018. At December 31, 2017 Mr. Valenti beneficially owned 4,231,969 shares out of 46,220,880 shares or 9.16%. During calendar 2018 Mr. Valenti increased his net beneficial ownership by 57,268 shares. Due to the increase in calendar 2018 of an additional 3,550,553 shares outstanding, however, Mr. Valenti’s beneficial ownership is shown as decreasing from 9.16% to 8.62% although the aggregate number of shares beneficially owned by him increased.


   SCHEDULE 13G   
CUSIP No. 7874Q100       Page 3 of 8

 

  1.       

  Names of Reporting Persons

 

   Terri Valenti

  2.      

  Check the Appropriate Box if a Member of a Group (see instructions)

  (a)  ☐        (b)  ☐

 

  3.      

  SEC USE ONLY

 

  4.      

  Citizenship or Place of Organization

 

  USA

Number of

Shares

  Beneficially  

Owned by

Each

Reporting

Person

With:

    5.     

  Sole Voting Power

 

  0

  6.     

  Shared Voting Power

 

  3,998,221 (1)

  7.     

  Sole Dispositive Power

 

  0

  8.     

  Shared Dispositive Power

 

  3,998,221 (1)

  9.      

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  3,998,221

10.      

  Check if the Aggregate Amount in Row (9) Excludes Certain Shares (see instructions)

 

11.      

  Percent of Class Represented by Amount in Row 9

 

  8.03% (2)

12.      

  Type of Reporting Person (see instructions)

 

  IN

 

(1)

Represents (i) 3,991,318 shares of common stock held by The Valenti Living Trust, for which Mr. and Mrs. Valenti are co-trustees and (ii) 6,903 shares of common stock held by trusts, for which Mrs. Valenti is trustee, for the benefit of Mr. and Mrs. Valenti’s immediate family members over which Mr. Valenti may be deemed to have shared voting and dispositive power.

(2)

Based on 49,771,433 shares of common stock issued and outstanding as of December 31, 2018.


   SCHEDULE 13G   
CUSIP No. 7874Q100       Page 4 of 8

 

  1.       

  Names of Reporting Persons

 

  The Valenti Living Trust

  2.      

  Check the Appropriate Box if a Member of a Group (see instructions)

  (a)  ☐        (b)  ☐

 

  3.      

  SEC USE ONLY

 

  4.      

  Citizenship or Place of Organization

 

  N/A

Number of

Shares

  Beneficially  

Owned by

Each

Reporting

Person

With:

    5.     

  Sole Voting Power

 

  0

  6.     

  Shared Voting Power

 

  3,991,318 (1)

  7.     

  Sole Dispositive Power

 

  0

  8.     

  Shared Dispositive Power

 

  3,991,318 (1)

  9.      

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  3,991,318

10.      

  Check if the Aggregate Amount in Row (9) Excludes Certain Shares (see instructions)

 

11.      

  Percent of Class Represented by Amount in Row 9

 

  8.02% (2)

12.      

  Type of Reporting Person (see instructions)

 

  OO

 

(1)

Represents 3,991,318 shares of common stock held directly by The Valenti Living Trust, for which Mr. and Mrs. Valenti are co-trustees.

(2)

Based on 49,771,433 shares of common stock issued and outstanding as of December 31, 2018.


   SCHEDULE 13G   
CUSIP No. 7874Q100       Page 5 of 8

 

Item 1(a). Name of Issuer:

QuinStreet, Inc.

Item 1(b). Address of Issuer’s Principal Executive Offices:

950 Tower Lane, 6th Floor

Foster City, CA 94404

Item 2(a). Name of Person Filing:

Douglas Valenti

Terri Valenti

The Valenti Living Trust

Item 2(b). Address of Principal Business Office or, if none, Residence:

c/o QuinStreet, Inc.

950 Tower Lane, 6th Floor

Foster City, CA 94404

Attn: Douglas Valenti

Item 2(c). Citizenship:

 

Douglas Valenti    USA
Terri Valenti    USA
The Valenti Living Trust    N/A

Item 2(d). Title of Class of Securities:

Common Stock

Item 2(e). CUSIP Number:

74874Q100

Item 3. If this statement is filed pursuant to §§240.13d-1(b), or 240.13d-2(b) or (c), check whether the person filing is a:

Not applicable

Item 4. Ownership

 

(a) Amount Beneficially Owned:   

Douglas Valenti

     4,289,237  (1) 

Terri Valenti

     3,998,221  (2) 

The Valenti Living Trust

     3,991,318  (5) 
(b) Percent of Class (3):   

Douglas Valenti

     8.62 % (6) 

Terri Valenti

     8.03

The Valenti Living Trust

     8.02
(c) Number of shares as to which the person has:   

(i) Sole power to vote or to direct the vote:

  

Douglas Valenti

     291,016  (4) 

Terri Valenti

     0  

The Valenti Living Trust

     0  

(ii) Shared power to vote or to direct the vote:

  

Douglas Valenti

     3,998,221  (2) 

Terri Valenti

     3,998,221  (2) 

The Valenti Living Trust

     3,991,318  (5) 

(iii) Sole power to dispose or to direct the disposition of:

  

Douglas Valenti

     291,016  (4) 

Terri Valenti

     0  


   SCHEDULE 13G   
CUSIP No. 7874Q100       Page 6 of 8

 

The Valenti Living Trust

     0  

(iv) Shared power to dispose or to direct the disposition of:

  

Douglas Valenti

     3,998,221  (2) 

Terri Valenti

     3,998,221  (2) 

The Valenti Living Trust

     3,991,318  (5) 

 

Notes to Item 4:

 

  (1)

Represents (i) 278,749 options to purchase shares of common stock held by Mr. Valenti exercisable within 60 days of December 31, 2018, (ii) 12,267 RSUs held by Mr. Valenti that will vest within 60 days of December 31, 2018, (iii) 3,991,318 shares of common stock held by The Valenti Living Trust, for which Mr. and Mrs. Valenti are co-trustees and (iv) 6,903 shares of common stock held by trusts, for which Mrs. Valenti is trustee, for the benefit of Mr. and Mrs. Valenti’s immediate family members over which Mr. Valenti may be deemed to have shared voting and dispositive power.

  (2)

Represents (i) 3,991,318 shares of common stock held directly by The Valenti Living Trust, for which Mr. and Mrs. Valenti are co-trustees and (ii) 6,903 shares of common stock held by trusts, for which Mrs. Valenti is trustee, for the benefit of Mr. and Mrs. Valenti’s immediate family members over which Mr. Valenti may be deemed to have shared voting and dispositive power.

  (3)

Based on 49,771,433 shares of common stock issued and outstanding as of December 31, 2018.

  (4)

Represents (i) 278,749 options to purchase shares of common stock held by Mr. Valenti exercisable within 60 days of December 31, 2018 and (ii) 12,267 RSUs held by Mr. Valenti that will vest within 60 days of December 31, 2018.

  (5)

Represents 3,991,318 shares of common stock held by The Valenti Living Trust, for which Mr. and Mrs. Valenti are co-trustees.

  (6)

The prior report inadvertently reported a beneficial ownership of 9.04%. Mr. Valenti actually had sole voting power over an additional 52,500 shares of which 47,250 underlying RSUs vested on November 24, 2017 and settled, as scheduled, on February 10, 2018 and 5,250 underlying RSUs vested and settled on February 10, 2018, which amounts, if included in the percentage beneficially owned as set forth on the prior amendment filed on February 13, 2018 would have reflected beneficial ownership of 9.16%.

Item 5. Ownership of 5 Percent or Less of a Class

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following:

Item 6. Ownership of More than 5 Percent on Behalf of Another Person

Not applicable

Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person.

Not applicable

Item 8. Identification and Classification of Members of the Group

Not applicable

Item 9. Notice of Dissolution of a Group

Not applicable

Item 10. Certification

Not applicable

 

Exhibit

  

Document Description

99.1    Agreement Pursuant to Rule 13d-1(k)(1)(iii)


   SCHEDULE 13G   
CUSIP No. 7874Q100       Page 7 of 8

 

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date: February 13, 2019

 

DOUGLAS J. VALENTI

/s/ Douglas J. Valenti

      Douglas J. Valenti

 

THE VALENTI LIVING TRUST

/s/ Douglas J. Valenti, Co-Trustee

      Douglas J. Valenti, Co-Trustee

 

TERRI VALENTI

/s/ Terri Valenti

      Terri Valenti

Attention: Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001)

EX-99.1

Exhibit 99.1

Pursuant to Rule 13d-1(k) (1) (iii) of Regulation 13D-G of the General Rules and Regulations of the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended, the undersigned agree that the statement to which this Exhibit is attached is filed on behalf of each of them in the capacities set forth herein below.

Date: February 13, 2019

 

DOUGLAS J. VALENTI

/s/ Douglas J. Valenti

    Douglas J. Valenti

 

THE VALENTI LIVING TRUST
By:  

/s/ Douglas J. Valenti, Co-Trustee

  Douglas J. Valenti, Co-Trustee

 

TERRI VALENTI

/s/ Terri Valenti

      Terri Valenti