Asure Software (ASUR) investors report 7–8% passive ownership stakes

Rhea-AI Filing Summary

Asure Software Inc. received an amended Schedule 13G showing updated ownership by Calm Waters Partnership and investor Richard S. Strong as of 12/31/2025. Calm Waters Partnership reports beneficial ownership of 2,030,369 shares of Asure Software common stock, representing 7.3% of the outstanding class, with shared voting and dispositive power over all of these shares.

Richard S. Strong reports beneficial ownership of 2,340,000 shares, equal to 8.4% of the class, including 309,631 shares over which he has sole voting and dispositive power and additional shares held with shared power. The reporting persons certify that the securities were acquired and are held on a passive basis, not for the purpose of changing or influencing control of Asure Software.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

ASURE SOFTWARE INC

(Name of Issuer)

Common Stock Par Value $0.01

(Title of Class of Securities)

04649U102

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 04649U102

1

Names of Reporting Persons

CALM WATERS PARTNERSHIP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

WISCONSIN

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2,030,369.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,030,369.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,030,369.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.3 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP No. 04649U102

1

Names of Reporting Persons

STRONG RICHARD S

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 309,631.00
6	Shared Voting Power 2,030,369.00
7	Sole Dispositive Power 309,631.00
8	Shared Dispositive Power 2,030,369.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,340,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.4 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: ASURE SOFTWARE INC
(b)	Address of issuer's principal executive offices: 405 COLORADO ST, #1800, AUSTIN, TEXAS, 78701.
Item 2.
(a)	Name of person filing: Calm Waters Partnership Richard S. Strong
(b)	Address or principal business office or, if none, residence: All reporting persons may be contacted at: c/o Godfrey & Kahn, S.C. 833 East Michigan Street, Suite 1800 Milwaukee, WI 53202
(c)	Citizenship: Calm Waters Partnership is a Wisconsin general partnership. Richard S. Strong is a United States citizen.
(d)	Title of class of securities: Common Stock Par Value $0.01
(e)	CUSIP No.: 04649U102
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: See responses to Item 9 of the cover pages.
(b)	Percent of class: See responses to Item 11 of the cover pages.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: For information on voting and dispositive power with respect to the above listed shares, see Items 5-9 on the Cover Pages.
	(ii) Shared power to vote or to direct the vote: For information on voting and dispositive power with respect to the above listed shares, see Items 5-9 on the Cover Pages.
	(iii) Sole power to dispose or to direct the disposition of: For information on voting and dispositive power with respect to the above listed shares, see Items 5-9 on the Cover Pages.
	(iv) Shared power to dispose or to direct the disposition of: For information on voting and dispositive power with respect to the above listed shares, see Items 5-9 on the Cover Pages.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

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.

CALM WATERS PARTNERSHIP

Signature:	/s/ Richard S. Strong
Name/Title:	Managing Partner
Date:	01/08/2026

STRONG RICHARD S

Signature:	/s/ Richard S. Strong
Name/Title:	Richard S. Strong
Date:	01/08/2026

Exhibit Information

Exhibit 1 - Joint Filing Agreement (incorporated by reference to Exhibit 1 of the Reporting Persons' Schedule 13G filed with the SEC on September 17, 2025) https://www.sec.gov/Archives/edgar/data/884144/000089271225000104/exhibit.htm

FAQ

What does the ASUR Schedule 13G/A filing report about ownership?

The filing reports that Calm Waters Partnership and Richard S. Strong together hold significant beneficial ownership stakes in Asure Software Inc. common stock as of 12/31/2025.

How many Asure Software (ASUR) shares does Calm Waters Partnership beneficially own?

Calm Waters Partnership reports beneficial ownership of 2,030,369 shares of Asure Software common stock, representing 7.3% of the outstanding class, with shared voting and dispositive power over those shares.

What is Richard S. Strong’s beneficial ownership percentage in ASUR?

Richard S. Strong reports beneficial ownership of 2,340,000 shares of Asure Software common stock, which represents 8.4% of the outstanding class, combining shares he controls solely and those with shared power.

Does this ASUR Schedule 13G/A indicate an attempt to influence control of the company?

No. The reporting persons certify that the securities were not acquired and are not held for the purpose of changing or influencing the control of Asure Software and are held on a passive basis.

What type of filing is this for Asure Software (ASUR)?

This is an Amendment No. 1 to Schedule 13G, which is a beneficial ownership report filed when investors hold more than 5% of a class of a company’s registered equity securities on a passive basis.

Who signed the ASUR Schedule 13G/A on behalf of the reporting persons?

The statement is signed by Richard S. Strong in two capacities: as Managing Partner of Calm Waters Partnership and in his individual capacity, each dated 01/08/2026.