sec document
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED
PURSUANT TO RULE 13d-1(a) AND AMENDMENTS
THERETO FILED PURSUANT TO RULE 13d-2(a)
(Amendment No. 2)(1)
FALCONSTOR SOFTWARE, INC.
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(Name of issuer)
COMMON STOCK, $.001 PAR VALUE PER SHARE
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(Title of class of securities)
306137 10 0
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(CUSIP number)
STEVEN WOLOSKY, ESQ.
OLSHAN GRUNDMAN FROME ROSENZWEIG & WOLOSKY LLP
Park Avenue Tower
65 East 55th Street
New York, New York 10022
(212) 451-2300
(Name, address and telephone
number of person
authorized to receive notices and communications)
February 20, 2007
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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 that is the subject of this Schedule 13D, and is filing
this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box / /.
Note. The Schedules filed in paper format shall include a signed original
and five copies of the schedule, including all exhibits. See Rule 13d-7(b) for
other parties to whom copies are to be sent.
(Continued on following pages)
(Page 1 of 4 Pages)
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(1) The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter disclosures provided in a prior cover page.
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 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).
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CUSIP No. 306137 10 0 13D Page 2 of 4 Pages
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
ReiJane Huai
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
PF, OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 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
SHARES
BENEFICIALLY 10,481,760 (1) shares
OWNED BY -----------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH 0 shares
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9 SOLE DISPOSITIVE POWER
10,481,760 (1) shares
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10 SHARED DISPOSITIVE POWER
0 shares
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
10,481,760 (1) shares
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.8%
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14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Includes 41,000 shares held by the ReiJane Huai Revocable Trust, of which
Mr. Huai is a trustee. Mr. Huai disclaims beneficial ownership of these
securities except to the extent of his pecuniary interest therein.
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CUSIP No. 306137 10 0 13D Page 3 of 4 Pages
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The following constitutes Amendment No. 2 to the Schedule 13D filed by the
undersigned (the "Schedule 13D"). Except as specifically amended by this
Amendment No. 2, the Schedule 13D remains in full force and effect.
Capitalized terms used in this Amendment No. 2 but not defined herein shall
have the meaning set forth in the Schedule 13D.
Items 5(a) and 5(b) are amended in their entirety to read as follows:
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a)-(b) The aggregate number of shares of Common Stock and percentage of
the outstanding Common Stock of the Issuer beneficially owned by Mr. Huai is as
follows:
Number of Shares: Number of Shares:
Aggregate Number of Sole Power to Vote Shared Power to Approximate
Shares or Dispose Vote or Dispose Percentage*
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10,481,760(1) 10,481,760(1) 0 21.8%
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* Based on 48,054,280 shares of Common Stock, outstanding as of October
24, 2006, as disclosed in the Issuer's Quarterly Report on Form 10-Q, for the
quarter ended September 30, 2006.
(1) Includes 41,000 shares held by the ReiJane Huai Revocable Trust, of
which Mr. Huai is a trustee. Mr. Huai disclaims beneficial ownership of these
securities except to the extent of his pecuniary interest therein.
Item 5(c) is hereby amended to include the following:
(c) The following table sets forth recent transactions effected by Mr.
Huai including all transactions in the past 60 days immediately prior to the
filing of this Amendment No. 2. All sales were made in the open market:
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Sale Date Number of shares Sale Price
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2/20/2007 175,000 $10.4425
2/21/2007 125,000 $10.34
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Gift Date Number of shares Price
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2/26/2007 10,000 --
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CUSIP No. 306137 10 0 13D Page 4 of 4 Pages
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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.
Dated: March 1, 2007
/s/ ReiJane Huai
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ReiJane Huai