UNITED STATES
 
SECURITIES AND EXCHANGE COMMISSION
 
Washington, D.C.  20549
 
_______________________
 
Form 8-K
 
CURRENT REPORT
 
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
 
 
Date of Report (Date of earliest event reported):      December 7, 2016    
 
 

Network-1 Technologies, Inc.

(Exact name of registrant as specified in its charter)
 
 
 
Delaware
001-15288
11-3027591

(State or other jurisdiction
(Commission
(IRS Employer
of incorporation)
File Number)
Identification No.)


445 Park Avenue, Suite 912, New York, New York 10022

(Address of principal executive offices)
 


Registrant's telephone number, including area code:  (212) 829-5770


 
N/A

(Former name or former address, if changed since last report.)
 
 
 
 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 


 
 
 
Item 3.03 Material Modifications to Rights of Security Holders.
 
On December 7, 2016, the Board of Directors of Network-1 Technologies, Inc. ("Network-1") approved the initiation of a dividend policy as part of Network-1's ongoing commitment to increasing shareholder value and return on investment.  The newly-adopted dividend policy provides for the payment of a regular semi-annual dividend of $0.05 per common share ($0.10 per common share annually) commencing in 2017.   Network-1 anticipates paying the semi-annual dividends in March and September of each year.  It is anticipated that the semi-annual regular dividend will continue to be paid through March 2020 (the expiration of Network-1's Remote Power Patent) provided that Network-1 continues to receive royalties from licensees of its Remote Power Patent.  A copy of the press release announcing the new dividend policy is attached as Exhibit 99.1.
 
 

Item 9.01 Financial Statements and Exhibits
 
(c)           Exhibits
 
Exhibit No.
Description
 
99.1
Press Release dated December 9, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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SIGNATURE
 


Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
 
 
NETWORK-1 TECHNOLOGIES, INC.
 
   
 
 
 
 
Dated:    December 12, 2016
By:
/s/ Corey M. Horowitz  
    Name:   Corey M. Horowitz  
    Title:     Chairman & Chief Executive Officer  
       
 
 

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 

 
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