Form 4 for DXLG DESTINATION XL GROUP, INC.

Accepted 2024-05-03 00:00:00 ET · period of report 2024-03-21 · accession 0000921895-24-001027 · SEC index · Original document

Summary rows

Aggregated the way they appear in lists: one row per insider, transaction code and security table.

X	Filed	Traded	Ticker	Insider	Title	Type	Price	Qty	Owned	ΔOwn	Value
DI	2024-05-03	2024-05-03	DXLG	Pleasant Lake Partners LLC	10%	S - Sale	$3.15	-225.0K	5.69M	-4%	-$708.8K
DMI	2024-05-03	2024-03-28+	DXLG	Pleasant Lake Partners LLC	10%	P - Purchase	$3.42	+525.6K	1.63M	+48%	+$1.80M

Purchase Sale Sale after option exercise All abbreviations

Every reported transaction

#	Table	Security	Date	Code	A/D	Shares	Price	Owned after	Own	Exercise / expiry	Underlying	Footnotes
1	Common	Common Stock, par value $0.01 per share	2024-05-03	S	D	225,000	$3.15	5,691,577	I See Footnotes	—	—	(F1) Securities reported herein are held for the benefit of Pleasant Lake Onshore Feeder Fund, LP (the "PL Fund") and an additional private investment vehicle for which Pleasant Lake Partners LLC ("PLP") serves as investment adviser. Fund 1 Investments, LLC serves as managing member of PLP. Jonathan Lennon serves as managing member of Fund 1 Investments, LLC. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its or his pecuniary interest therein. (F2) Securities held for the account of the PL Fund.
2	Derivative	Cash-Settled Total Return Swap	2024-04-29	P	A	72,000	$3.37	1,702,293	I See Footnotes	— · — to 2026-02-24	72,000 Common Stock, par value $0.01 per share	(F4) PL Fund has entered into certain cash-settled total return swap agreeements (the "Swap Agreements") with an unaffiliated third party financial institution, which provides PL Fund with economic exposure to an aggregate of 1,702,293 nominal shares of Common Stock. The Swap Agreements provide PL Fund with economic results that are comparable to the economic results of ownership but do not provide PL Fund with the power to vote or direct the voting or dispose of or direct the disposition of the shares of Common Stock that are the subject of the Swaps Agreements (the "Subject Shares"). The Reporting Persons expressly disclaim beneficial ownership of the Subject Shares except to the extent of its or his pecuniary interest therein. (F1) Securities reported herein are held for the benefit of Pleasant Lake Onshore Feeder Fund, LP (the "PL Fund") and an additional private investment vehicle for which Pleasant Lake Partners LLC ("PLP") serves as investment adviser. Fund 1 Investments, LLC serves as managing member of PLP. Jonathan Lennon serves as managing member of Fund 1 Investments, LLC. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its or his pecuniary interest therein. (F2) Securities held for the account of the PL Fund. (F5) The expiration date of the Swap Agreements will be automatically extended for successive 12 month periods unless one party provides written notice to the other party, at least 30 calendar days prior to the first extension and at least 15 calendar days prior to any subsequent extension, not to so extend the expiration date.
3	Derivative	Cash-Settled Total Return Swap	2024-03-28	P	A	141,000	$3.63	1,317,663	I See Footnotes	— · — to 2026-02-24	141,000 Common Stock, par value $0.01 per share	(F4) PL Fund has entered into certain cash-settled total return swap agreeements (the "Swap Agreements") with an unaffiliated third party financial institution, which provides PL Fund with economic exposure to an aggregate of 1,702,293 nominal shares of Common Stock. The Swap Agreements provide PL Fund with economic results that are comparable to the economic results of ownership but do not provide PL Fund with the power to vote or direct the voting or dispose of or direct the disposition of the shares of Common Stock that are the subject of the Swaps Agreements (the "Subject Shares"). The Reporting Persons expressly disclaim beneficial ownership of the Subject Shares except to the extent of its or his pecuniary interest therein. (F1) Securities reported herein are held for the benefit of Pleasant Lake Onshore Feeder Fund, LP (the "PL Fund") and an additional private investment vehicle for which Pleasant Lake Partners LLC ("PLP") serves as investment adviser. Fund 1 Investments, LLC serves as managing member of PLP. Jonathan Lennon serves as managing member of Fund 1 Investments, LLC. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its or his pecuniary interest therein. (F2) Securities held for the account of the PL Fund. (F5) The expiration date of the Swap Agreements will be automatically extended for successive 12 month periods unless one party provides written notice to the other party, at least 30 calendar days prior to the first extension and at least 15 calendar days prior to any subsequent extension, not to so extend the expiration date.
4	Derivative	Cash-Settled Total Return Swap	2024-04-12	P	A	76,000	$3.28	1,393,663	I See Footnotes	— · — to 2026-02-24	76,000 Common Stock, par value $0.01 per share	(F4) PL Fund has entered into certain cash-settled total return swap agreeements (the "Swap Agreements") with an unaffiliated third party financial institution, which provides PL Fund with economic exposure to an aggregate of 1,702,293 nominal shares of Common Stock. The Swap Agreements provide PL Fund with economic results that are comparable to the economic results of ownership but do not provide PL Fund with the power to vote or direct the voting or dispose of or direct the disposition of the shares of Common Stock that are the subject of the Swaps Agreements (the "Subject Shares"). The Reporting Persons expressly disclaim beneficial ownership of the Subject Shares except to the extent of its or his pecuniary interest therein. (F1) Securities reported herein are held for the benefit of Pleasant Lake Onshore Feeder Fund, LP (the "PL Fund") and an additional private investment vehicle for which Pleasant Lake Partners LLC ("PLP") serves as investment adviser. Fund 1 Investments, LLC serves as managing member of PLP. Jonathan Lennon serves as managing member of Fund 1 Investments, LLC. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its or his pecuniary interest therein. (F2) Securities held for the account of the PL Fund. (F5) The expiration date of the Swap Agreements will be automatically extended for successive 12 month periods unless one party provides written notice to the other party, at least 30 calendar days prior to the first extension and at least 15 calendar days prior to any subsequent extension, not to so extend the expiration date.
5	Derivative	Cash-Settled Total Return Swap	2024-04-23	P	A	69,630	$3.34	1,463,293	I See Footnotes	— · — to 2026-02-24	69,630 Common Stock, par value $0.01 per share	(F4) PL Fund has entered into certain cash-settled total return swap agreeements (the "Swap Agreements") with an unaffiliated third party financial institution, which provides PL Fund with economic exposure to an aggregate of 1,702,293 nominal shares of Common Stock. The Swap Agreements provide PL Fund with economic results that are comparable to the economic results of ownership but do not provide PL Fund with the power to vote or direct the voting or dispose of or direct the disposition of the shares of Common Stock that are the subject of the Swaps Agreements (the "Subject Shares"). The Reporting Persons expressly disclaim beneficial ownership of the Subject Shares except to the extent of its or his pecuniary interest therein. (F1) Securities reported herein are held for the benefit of Pleasant Lake Onshore Feeder Fund, LP (the "PL Fund") and an additional private investment vehicle for which Pleasant Lake Partners LLC ("PLP") serves as investment adviser. Fund 1 Investments, LLC serves as managing member of PLP. Jonathan Lennon serves as managing member of Fund 1 Investments, LLC. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its or his pecuniary interest therein. (F2) Securities held for the account of the PL Fund. (F5) The expiration date of the Swap Agreements will be automatically extended for successive 12 month periods unless one party provides written notice to the other party, at least 30 calendar days prior to the first extension and at least 15 calendar days prior to any subsequent extension, not to so extend the expiration date.
6	Derivative	Cash-Settled Total Return Swap	2024-04-25	P	A	97,000	$3.36	1,560,292	I See Footnotes	— · — to 2026-02-24	97,000 Common Stock, par value $0.01 per share	(F4) PL Fund has entered into certain cash-settled total return swap agreeements (the "Swap Agreements") with an unaffiliated third party financial institution, which provides PL Fund with economic exposure to an aggregate of 1,702,293 nominal shares of Common Stock. The Swap Agreements provide PL Fund with economic results that are comparable to the economic results of ownership but do not provide PL Fund with the power to vote or direct the voting or dispose of or direct the disposition of the shares of Common Stock that are the subject of the Swaps Agreements (the "Subject Shares"). The Reporting Persons expressly disclaim beneficial ownership of the Subject Shares except to the extent of its or his pecuniary interest therein. (F1) Securities reported herein are held for the benefit of Pleasant Lake Onshore Feeder Fund, LP (the "PL Fund") and an additional private investment vehicle for which Pleasant Lake Partners LLC ("PLP") serves as investment adviser. Fund 1 Investments, LLC serves as managing member of PLP. Jonathan Lennon serves as managing member of Fund 1 Investments, LLC. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its or his pecuniary interest therein. (F2) Securities held for the account of the PL Fund. (F5) The expiration date of the Swap Agreements will be automatically extended for successive 12 month periods unless one party provides written notice to the other party, at least 30 calendar days prior to the first extension and at least 15 calendar days prior to any subsequent extension, not to so extend the expiration date.
7	Derivative	Cash-Settled Total Return Swap	2024-04-26	P	A	70,000	$3.38	1,630,293	I See Footnotes	— · — to 2026-02-24	70,000 Common Stock, par value $0.01 per share	(F4) PL Fund has entered into certain cash-settled total return swap agreeements (the "Swap Agreements") with an unaffiliated third party financial institution, which provides PL Fund with economic exposure to an aggregate of 1,702,293 nominal shares of Common Stock. The Swap Agreements provide PL Fund with economic results that are comparable to the economic results of ownership but do not provide PL Fund with the power to vote or direct the voting or dispose of or direct the disposition of the shares of Common Stock that are the subject of the Swaps Agreements (the "Subject Shares"). The Reporting Persons expressly disclaim beneficial ownership of the Subject Shares except to the extent of its or his pecuniary interest therein. (F1) Securities reported herein are held for the benefit of Pleasant Lake Onshore Feeder Fund, LP (the "PL Fund") and an additional private investment vehicle for which Pleasant Lake Partners LLC ("PLP") serves as investment adviser. Fund 1 Investments, LLC serves as managing member of PLP. Jonathan Lennon serves as managing member of Fund 1 Investments, LLC. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of its or his pecuniary interest therein. (F2) Securities held for the account of the PL Fund. (F5) The expiration date of the Swap Agreements will be automatically extended for successive 12 month periods unless one party provides written notice to the other party, at least 30 calendar days prior to the first extension and at least 15 calendar days prior to any subsequent extension, not to so extend the expiration date.