JCP funds disclose major Track Group (TRCK) stake and warrant holdings
Rhea-AI Filing Summary
Track Group, Inc. received an initial Form 3 from a group of JCP investment entities led by JCP Investment Partnership, LP and James C. Pappas, reporting beneficial ownership above ten percent through indirect holdings.
The filing lists 1,553,281 shares of common stock held in accounts managed by JCP Investment Management, LLC and 15,310,723 shares held directly by JCP Investment Partnership, LP, all reported as indirect ownership. It also discloses an indirect warrant position for 375,000 underlying common shares at an exercise price of $0.35 per share, expiring in 2036. The reporting persons state they may be deemed to beneficially own these securities but disclaim beneficial ownership beyond their pecuniary interests.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
JCP Investment Management, LLC, JCP Investment Partnership, LP, JCP Investment Partners, LP, JCP Investment Holdings, LLC, Pappas James C
Role
10% Owner | 10% Owner | 10% Owner | 10% Owner | 10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Warrant | -- | -- | -- |
| holding | Common Stock, par value $0.0001 per share | -- | -- | -- |
| holding | Common Stock, par value $0.0001 per share | -- | -- | -- |
Holdings After Transaction:
Warrant — 375,000 shares (Indirect, By: JCP Investment Partnership, LP);
Common Stock, par value $0.0001 per share — 15,310,723 shares (Indirect, By: JCP Investment Partnership, LP);
Common Stock, par value $0.0001 per share — 1,553,281 shares (Indirect, By: Managed Accounts of JCP Investment Management, LLC)
Footnotes (3)
- F1. This Form 3 is filed jointly by JCP Investment Partnership, LP ("JCP Partnership"), JCP Investment Partners, LP ("JCP Partners"), JCP Investment Holdings, LLC ("JCP Holdings"), JCP Investment Management, LLC ("JCP Management") and James C. Pappas (collectively, the "Reporting Persons"). Each of the Reporting Persons may be deemed to beneficially own more than 10% of the Issuer's outstanding shares of Common Stock. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein.
- F2. Represents securities of the Issuer owned directly by JCP Partnership. JCP Partners, as the general partner of JCP Partnership, may be deemed to beneficially own the securities owned directly by JCP Partnership. JCP Holdings, as the general partner of JCP Partners, may be deemed to beneficially own the securities owned directly by JCP Partnership. JCP Management, as the investment manager of JCP Partnership, may be deemed to beneficially own the securities owned directly by JCP Partnership. Mr. Pappas, as the managing member of JCP Management and the sole member of JCP Holdings, may be deemed to beneficially own the securities owned directly by JCP Partnership.
- F3. Represents securities of the Issuer held in certain accounts managed by JCP Management (the "JCP Accounts"). JCP Management, as the investment manager of the JCP Accounts, may be deemed to beneficially own the securities held in the JCP Accounts. Mr. Pappas, as the managing member of JCP Management, may be deemed to beneficially own the securities held in the JCP Accounts.
Key Figures
Managed accounts shares: 1,553,281 shares
Partnership shares: 15,310,723 shares
Warrant underlying shares: 375,000 shares
+2 more
5 metrics
Managed accounts shares
1,553,281 shares
Common stock held in JCP-managed accounts, indirect ownership
Partnership shares
15,310,723 shares
Common stock owned directly by JCP Investment Partnership, LP
Warrant underlying shares
375,000 shares
Underlying common stock for disclosed warrant position
Warrant exercise price
$0.35 per share
Exercise price of warrant on Track Group common stock
Warrant expiration
2036-04-30
Expiration date of disclosed warrant position
Key Terms
beneficially own, pecuniary interest, warrant, ten percent owner, +1 more
5 terms
beneficially own financial
"Each of the Reporting Persons may be deemed to beneficially own more than 10% of the Issuer's outstanding shares"
Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.
pecuniary interest financial
"disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein"
warrant financial
"security_title": "Warrant""
A warrant is a time-limited financial contract that gives its holder the right to buy a company's shares at a set price before a specified date, like a coupon that lets you purchase stock at a fixed discount for a limited time. It matters to investors because warrants offer leveraged exposure to a stock’s upside and can dilute existing shareholders if exercised, so they affect potential gains and the company’s outstanding share count.
ten percent owner financial
"Each of the Reporting Persons may be deemed to beneficially own more than 10% of the Issuer's outstanding shares"
indirect ownership financial
"ownership_type": "indirect""
FAQ
What does the Form 3 filed by JCP entities for Track Group (TRCK) report?
The Form 3 reports that several JCP investment entities and James C. Pappas may be deemed to beneficially own more than ten percent of Track Group’s common stock, based on indirect holdings through a partnership and managed accounts, while disclaiming ownership beyond their pecuniary interests.
What Track Group (TRCK) stake is held by JCP Investment Partnership, LP?
JCP Investment Partnership, LP is shown as directly owning 15,310,723 Track Group common shares. Related JCP entities and James C. Pappas may be deemed to beneficially own these securities through their roles as general partners or managers of the partnership structure.
How do the JCP reporting persons describe their beneficial ownership of Track Group (TRCK)?
The JCP entities and James C. Pappas state they may be deemed to beneficially own the reported Track Group securities due to their control roles, but they expressly disclaim beneficial ownership except to the extent of their pecuniary interest, limiting the scope of their acknowledged economic stake.
AI-generated analysis. How Rhea-AI works. Not financial advice.
