Lawrence Steven Sharnak Form 3 MTBC / Lawrence Steven Sharnak 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^*

Sharnak Lawrence Steven

(Last) (First) (Middle)

7 CLYDE ROAD

(Street)

SOMERSET NJ 08873

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
04/29/2020

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

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)
Common stock	5,000(1)	D

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
Restricted Stock Unit	(2)	(2)	Common stock	8,000	(3)	D

Explanation of Responses:

1. No securities beneficially owned as of 4/29/20. On August 20, 2020, 5,000 shares of MTBC common stock were purchased at a price of $10.64/share.

2. The restricted stock unit grant was issued on August 20, 2020 and vests in four equal installments between February, 2021 and August, 2022.

3. Each restricted stock unit represents the right to receive, at settlement, one share of common stock.

Remarks:

See attached Power of Attorney.

	/s/ Norman Roth, Attorney-in-Fact for Lawrence S. Sharnak	08/24/2020
	** 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).
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