James Morgan McKelvey Jr. Form 3 Calpian / James Morgan Jr. McKelvey ownership change

SEC Form 3

FORM 3

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

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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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1. Name and Address of Reporting Person^*

McKelvey James Morgan Jr.

(Last) (First) (Middle)

500 N AKARD STREET

SUITE 2850

(Street)

DALLAS TX 75201

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
05/23/2016

3. Issuer Name and Ticker or Trading Symbol
Calpian, Inc. [ CLPI ]

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

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Common Stock Warrant (Right to Buy)	05/23/2016	05/23/2021	Common Stock	200,000(1)	0.535	D
Series D Convertible Preferred Stock	05/31/2016	(2)	Common Stock	41,667(3)	0.6	D
Common Stock Warrant (Right to Buy)	05/31/2016	05/31/2021	Common Stock	6,250(4)	0.75	D

Explanation of Responses:

1. Common stock warrant granted to Reporting Person for 200,000 shares, 100% vested at grant date, pursuant to his appointment as Director of the Company and subject to the terms of the Warrant Agreement.

2. Not applicable

3. Represents amount of common stock shares issuable upon conversion of the face amount of the Convertible Preferred Stock and does not factor in accrued and unpaid dividends thereon.

4. Common stock warrant granted to Reporting Person for 6,250 shares, fully vested at grant date, and subject to the terms of the Warrant Agreement.

Remarks:

	/s/ James M. McKelvey	06/01/2016
	** 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 5 (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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.