Newell Robert Y IV Form 4 DEXTERA SURGICAL / Robert Y IV Newell ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Newell Robert Y IV

(Last) (First) (Middle)

C/O DEXTERA SURGICAL INC.

900 SAGINAW DRIVE

(Street)

REDWOOD CITY CA 94063

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
DEXTERA SURGICAL INC [ DXTR ]

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
V.P., Finance, CFO, Secretary

3. Date of Earliest Transaction (Month/Day/Year)
05/16/2017

4. If Amendment, Date of Original Filed (Month/Day/Year)

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

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

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Series B Convertible Preferred Stock(1)	$0.27	05/16/2017		P		25		(2)	(3)	Common Stock	92,600	$1,000	25	I	By Family Trust.
Series 1 Convertible Preferred Stock	$0.27	05/16/2017		P		92,600		(4)	(5)	Common Stock	92,600	(7)	92,600	I	By Family Trust.
Series 2 Convertible Preferred Stock	$0.27	05/16/2017		P		46,300		(4)	(6)	Common Stock	46,300	(7)	46,300	I	By Family Trust.

Explanation of Responses:

1. Each share of Series B convertible preferred stock was sold with warrants to purchase up to 3,704 shares of common stock (referred to as "Series 1 warrants") and warrants to purchase up to 1,852 shares of common stock (referred to as "Series 2 warrants").

2. Subject to certain ownership limitations, each share of the Series B convertible preferred stock is convertible at any time at the option of the holder into 3,704 shares of common stock.

3. There is no expiration date.

4. Subject to certain ownership limitations, the warrants are immediately exercisable.

5. The warrant expires on the fifth anniversary of the date of issuance.

6. The warrant expires on the first anniversary of the date of issuance.

7. The reported securities are included in the price equal to $1,000 per share of the Series B convertible preferred stock purchased.

	/s/ Robert Y. Newell IV	05/18/2017
	** 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 4 (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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