UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
(AMENDMENT NO. 5)
Under the Securities Exchange Act of 1934
COBRA ELECTRONICS CORP.
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(Name of issuer)
COMMON STOCK
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(Title of class of securities)
191042100
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(CUSIP number)
TIMOTHY J. STABOSZ, 1307 MONROE STREET, LAPORTE, IN 46350 (219) 324-5087
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(Name, address and telephone number of person authorized to receive notices and
communications)
JANUARY 18, 2012
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(Date of event which requires filing of this statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check
the following box. [_]
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
CUSIP No. 191042100
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1. Name of Reporting Person
TIMOTHY JOHN STABOSZ
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2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) [_]
NOT APPLICABLE (b) [_]
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3. SEC Use Only
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4. Source of Funds (See Instructions) PF
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5. Check Box If Disclosure of Legal Proceedings Is Required Pursuant to
Items 2(d) or 2(e) [_]
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6. Citizenship or Place of Organization UNITED STATES
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Number of (7) Sole Voting Power 376,838
Shares ____________________________________________
Beneficially (8) Shared Voting Power 0
Owned by ____________________________________________
Each (9) Sole Dispositive Power 376,838
Reporting ____________________________________________
Person With (10) Shared Dispositive Power 0
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11. Aggregate Amount Beneficially Owned 376,838
by each Reporting Person
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12. Check if the Aggregate Amount in Row (11) Excludes [_]
Certain Shares
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13. Percent of Class Represented by Amount in Row (11) 5.8%
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14. Type of Reporting Person (See Instructions) IN
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ITEM 1. Security and Issuer
Common stock of Cobra Electronics Corp., 6500 W. Cortland Street,
Chicago, IL 60707.
ITEM 2. Identity and Background
The reporting person, Timothy J. Stabosz, 1307 Monroe Street, LaPorte,
IN 46350, a natural person and United States citizen, is engaged as a
private investor. He has not been convicted in a criminal proceeding
(excluding traffic violations or other similar misdemeanors) in the last 5
years, and has not been a party to any proceedings, or subject to any
judgements, enjoinments, decrees, et al, related to violations of state or
federal securities laws, in his lifetime.
ITEM 3. Source and Amount of Funds or Other Consideration
Personal funds in the aggregate amount of $534,607.47 have been used to
effect the purchases. No part of the purchase price represents borrowed
funds.
ITEM 4. Purpose of Transaction
The reporting person has acquired the shares for investment purposes.
The reporting person is filing this Amendment No. 5 to reflect a
decrease in his ownership percentage of the company's common stock to 5.8%,
from the 6.9% previously reported on Schedule 13D, Amendment No. 4, filed on
November 25, 2011. While, particularly in light of the significant
improvements in the company's operating results of late, the reporting
person continues to believe Cobra shares are undervalued in the marketplace,
the sales have been effected for two primary reasons: 1) the need to
maintain adequate portfolio diversification, in light of the marked increase
in Cobra's stock price (the reporting person's average cost, as noted in
Item #3 above, is $1.41 per share), and 2) in light of exceptional
opportunities to purchase stocks suffering from "tax-loss" selling, in the
month of December, the reporting person believed that pursuing those
short-term opportunities represented a compelling choice that justified
further "lightening up" on his Cobra position.
The reporting person believes that, should the company's operating
results continue to improve, management ought to consider instituting a
regular annual dividend, in order to broaden the company's shareholder base,
to increase overall trading liquidity, to reflect management's (presumed)
confidence in the "staying power" and "durability" of the company's return
to profitability, and to increase overall shareholder value.
Other than as noted above, the reporting person currently has no
specific plan or proposals which relate to or would result in any of the
matters set forth in subparagraphs (a) - (j) of Item 4 of Schedule 13D.
This notwithstanding, the reporting person intends to review his investment
in the company on a continual basis and engage in discussions with
management and the Board of Directors concerning the business, operations,
and future plans of the company. Depending on various factors, including,
without limitation, the company's financial position and investment
strategy, the price levels of the common stock, conditions in the securities
markets, and general economic and industry conditions, the reporting person
may, in the future, take such actions with respect to his investment in the
company as he deems appropriate including, without limitation, communicating
with other stockholders, seeking Board representation, making proposals to
the company concerning the capitalization and operations of the issuer,
purchasing additional shares of common stock or selling some or all of his
shares, or changing his intention with respect to any and all matters
referred to in Item 4.
ITEM 5. Interest in Securities of the Issuer
As of the close of business on February 2, 2012, the reporting person
has sole voting and dispositive power over 376,838 shares of Cobra
Electronics Corp.'s common stock. The company's latest Form 10-Q filing, as
of November 7, 2011, indicates there were 6,539,580 common shares
outstanding. Accordingly, the reporting person is deemed to own 5.8% of the
company's common stock. Transactions effected by the reporting person from
November 24, 2011, through February 2, 2012, were performed in ordinary
brokerage transactions, and are indicated as follows:
12/05/11 sold 6400 shares at $4.788
12/09/11 sold 1000 shares at $4.43
12/12/11 sold 11,159 shares at $4.412
12/13/11 sold 5000 shares at $4.318
12/14/11 sold 100 shares at $4.53
12/19/11 sold 2500 shares at $4.207
12/22/11 sold 2500 shares at $4.43
12/23/11 sold 8297 shares at $4.515
12/27/11 sold 678 shares at $4.49
12/28/11 sold 10,200 shares at $4.373
01/06/12 sold 3000 shares at $4.349
01/09/12 sold 6055 shares at $4.265
01/17/12 sold 2500 shares at $4.65
01/18/12 sold 7900 shares at $4.70
01/19/12 sold 200 shares at $4.73
01/26/12 sold 2374 shares at $4.79
01/31/12 sold 126 shares at $4.79
02/01/12 sold 2500 shares at $4.79
ITEM 6. Contracts, Arrangements, Understandings or Relationships
with Respect to Securities of the Issuer
Not Applicable
ITEM 7. Material to be Filed as Exhibits
Not Applicable
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete
and correct.
Date 02/02/12
Signature Timothy J. Stabosz
Name/Title Timothy J. Stabosz, Private Investor