Howard Timothy Eriksen - 17 Nov 2022 Form 4 Insider Report for TSR INC (TSRI)

Role: Director
Signature: /s/ Tim Eriksen on behalf of ECM
Issuer symbol: TSRI
Transactions as of: 17 Nov 2022
Net transactions value: +$18,004
Form type: 4
Filing time: 18 Nov 2022, 15:15:21 UTC
Previous filing: 15 Nov 2022
Next filing: 18 Oct 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	TSRI	Common Stock, $0.01 par value	Purchase	$6,452	+823	+3.1%	$7.84	27,623	17 Nov 2022	Direct	F2
transaction	TSRI	Common Stock, $0.01 par value	Purchase	$11,552	+1,481	+5.4%	$7.80	29,104	18 Nov 2022	Direct	F2
holding	TSRI	Common Stock, $0.01 par value						8,041	17 Nov 2022	See footnote	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Mr. Eriksen is the Managing Member of Eriksen Capital Management ("ECM") which manages separately managed accounts ("SMAs") and is also the Managing Member of Cedar Creek Partners, an investment partenrship. ECM executed open market purchases for shares of common stock in various SMAs, including shares for accounts of adult children of Mr. Eriksen. The respective owners of the SMAs are responsible to vote the shares. The reporting person disclaims benefiical ownership of the reported securities except to the extent of his pecuniary interest therein.
F2	These shares are owned solely by Mr. Eriksen. 26,800 shares represent restricted stock awards granted under the TSR, Inc. 2020 Equity Incentive Plan. Of these shares, 6,800 are fully vested and 20,000 of these shares of restricted stock will remain subject to forfeiture for three years from the grant date. The lapse of the forfeiture restrictions is conditioned on the reporting person continuing to provide services to TSR, Inc. (the "Company") through each vesting date.

Content

Mr. Eriksen is the Managing Member of Eriksen Capital Management ("ECM") which manages separately managed accounts ("SMAs") and is also the Managing Member of Cedar Creek Partners, an investment partenrship. ECM executed open market purchases for shares of common stock in various SMAs, including shares for accounts of adult children of Mr. Eriksen. The respective owners of the SMAs are responsible to vote the shares. The reporting person disclaims benefiical ownership of the reported securities except to the extent of his pecuniary interest therein.

These shares are owned solely by Mr. Eriksen. 26,800 shares represent restricted stock awards granted under the TSR, Inc. 2020 Equity Incentive Plan. Of these shares, 6,800 are fully vested and 20,000 of these shares of restricted stock will remain subject to forfeiture for three years from the grant date. The lapse of the forfeiture restrictions is conditioned on the reporting person continuing to provide services to TSR, Inc. (the "Company") through each vesting date.