Chicken Soup for the Soul Entertainment (CSSEQ) Form 4 Change in insider ownership

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^*

SONY CORP

(Last) (First) (Middle)

1-7-1, KONAN

MINATO-KU

(Street)

TOKYO M0 108-0075

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Chicken Soup for the Soul Entertainment, Inc. [ CSSE ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
01/13/2021

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
Series A 9.75% Perpetual Preferred Stock	01/13/2021		J(1)(2)		1,600,000	A	$25(1)(2)	1,798,956	I	See Footnote(3)

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

Explanation of Responses:

1. Pursuant to the terms of the Amended and Restated Limited Liability Company Agreement of Crackle Plus, LLC ("Crackle Plus") among Crackle Plus, Chicken Soup For The Soul Entertainment, Inc. (the "Issuer") and CPE Holdings, Inc. ("CPEH"), a wholly-owned subsidiary of the Reporting Person, as successor to Crackle, Inc., dated as of May 14, 2019 ("LLC Agreement"), CSSE granted CPEH and its affiliates the right to require CSSE to purchase all, but not less than all, of CPEH's interest in Crackle Plus. The LLC Agreement allowed the Issuer to elect, in its sole discretion, to satisfy its obligation under the Put Option through the issuance of the Issuer's 9.75% Series A Cumulative Redeemable Perpetual Preferred Shares ("CSSE Preferred Shares") or an amount of cash based on the number of CSSE Preferred Shares that would have been issued to satisfy the Put Option, using a price per share of $25.00, or a combination of cash and CSSE Preferred Shares (the "Put Option").

2. On December 14, 2020, CPEH elected to exercise the Put Option. On January 13, 2021, CSSE elected to satisfy its obligations under the Put Option by issuing CSSE Preferred Shares, totaling 1,600,000 shares.

3. The securities are held through CPEH, an indirect wholly-owned subsidiary of the Reporting Person.

	/s/ Hiroki Totoki By: Hiroki Totoki, Executive Deputy President and Chief Financial Officer	01/15/2021
	** 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).
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