ClearOne (CLRO) Form 4 CLEARONE / ZEYNEP HAKIMOGLU 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^*

HAKIMOGLU ZEYNEP

(Last) (First) (Middle)

5225 WILEY POST WAY, SUITE 500

(Street)

SALT LAKE CITY UT 84116

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CLEARONE INC [ CLRO ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
06/23/2017

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
Common Stock	06/23/2017		F(1)		32,713(1)	D	(1)	175,676	D
Common Stock	06/23/2017		M(1)		50,000(1)	A	(1)	225,676	D
Common Stock	06/23/2017		F(2)		8,117(2)	D	(2)	217,559	D

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
Stock Option (Right to Buy)	$6.15	06/23/2017		M(1)			50,000	08/14/2008	08/14/2017	Common Stock	50,000	$6.15	100,000	D

Explanation of Responses:

1. On June 23, 2017, the reporting person exercised options to purchase 50,000 shares of common stock at an exercise price of $6.15 per share (the "Options"). As payment of the exercise price of the Options, the reporting person forfeited to the issuer 32,713 shares of common stock beneficially owned by the reporting person prior to the exercise of the Options with a market value equal to the exercise price for the Options based on the closing price of the issuer's common stock as reported on the Nasdaq Capital Market on the date of exercise.

2. In connection with the exercise of the Options, the issuer withheld 8,117 shares in satisfaction of U.S. federal income tax withholding obligations with respect to the exercise of the Options.

	/s/ Zeynep Hakimoglu	06/27/2017
	** 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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