XNAS:KTOS Kratos Defense & Security Solutions Inc Insider Activity 3 Filing - 5/14/2012

Effective Date 5/14/2012

XNAS:KTOS Fair Value Estimate
Premium
XNAS:KTOS Consider Buying
Premium
XNAS:KTOS Consider Selling
Premium
XNAS:KTOS Fair Value Uncertainty
Premium
XNAS:KTOS Economic Moat
Premium
XNAS:KTOS Stewardship
Premium
 
FORM 3
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0104
Expires: January 31, 2005
Estimated average burden hours per response... 0.5

(Print or Type Responses)
1. Name and Address of Reporting Person *
  Oak Investment Partners XIII, Limited Partnership
2. Date of Event Requiring Statement (Month/Day/Year)
05/14/2012
3. Issuer Name and Ticker or Trading Symbol
KRATOS DEFENSE & SECURITY SOLUTIONS, INC. [KTOS]
(Last)
(First)
(Middle)
ONE GORHAM ISLAND
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
5. If Amendment, Date Original Filed (Month/Day/Year)
(Street)

WESTPORT, CT 06880
6. Individual or Joint/Group Filing (Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)
2. Amount of Securities Beneficially Owned
(Instr. 4)
3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)
4. Nature of Indirect Beneficial Ownership
(Instr. 5)
COMMON STOCK 11,000,000(1)
D
 
COMMON STOCK 267,786(2)
D
 
COMMON STOCK 2,853(3)
D
 
COMMON STOCK 6,427(4)
D
 
COMMON STOCK 539,618(5)
D
 
COMMON STOCK 8,661(6)
D
 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)
2. Date Exercisable and Expiration Date
(Month/Day/Year)
3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)
4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)
6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
DIRECTOR OPTION (RIGHT TO BUY)(7)   (9) 01/01/2013 COMMON STOCK 2,000(8) $60.1 I(7)(8) SEE FOOTNOTES(7)(8)
DIRECTOR OPTION (RIGHT TO BUY)(7)   (9) 01/02/2014 COMMON STOCK 2,000(8) $148.6 I(7)(8) SEE FOOTNOTES(7)(8)
DIRECTOR OPTION (RIGHT TO BUY)(7)   (9) 01/03/2015 COMMON STOCK 2,000(8) $94.4 I(7)(8) SEE FOOTNOTES(7)(8)
DIRECTOR OPTION (RIGHT TO BUY)(7)   (9) 08/17/2015 COMMON STOCK 475(8) $49.5 I(7)(8) SEE FOOTNOTES(7)(8)
DIRECTOR OPTION (RIGHT TO BUY)(7)   (9) 09/07/2015 COMMON STOCK 105(8) $57 I(7)(8) SEE FOOTNOTES(7)(8)
DIRECTOR OPTION (RIGHT TO BUY)(7)   (9) 11/16/2015 COMMON STOCK 99(8) $55.5 I(7)(8) SEE FOOTNOTES(7)(8)
DIRECTOR OPTION (RIGHT TO BUY)(7)   (9) 01/03/2016 COMMON STOCK 2,000(8) $51 I(7)(8) SEE FOOTNOTES(7)(8)
DIRECTOR OPTION (RIGHT TO BUY)(7)   (9) 03/22/2016 COMMON STOCK 451(8) $38.8 I(7)(8) SEE FOOTNOTES(7)(8)
DIRECTOR OPTION (RIGHT TO BUY)(7)   (9) 05/17/2016 COMMON STOCK 230(8) $36.9 I(7)(8) SEE FOOTNOTES(7)(8)
DIRECTOR OPTION (RIGHT TO BUY)(7)   (9) 09/06/2016 COMMON STOCK 155(8) $22.5 I(7)(8) SEE FOOTNOES(7)(8)
DIRECTOR OPTION (RIGHT TO BUY)(7)   (9) 11/17/2016 COMMON STOCK 589(8) $22.9 I(7)(8) SEE FOOTNOTES(7)(8)
DIRECTOR OPTION (RIGHT TO BUY)(7)   (9) 02/28/2017 COMMON STOCK 592(8) $21.1 I(7)(8) SEE FOOTNOTES(7)(8)
DIRECTOR OPTION (RIGHT TO BUY)(7)   (9) 05/16/2017 COMMON STOCK 255(8) $13.7 I(7)(8) SEE FOOTNOTES(7)(8)
DIRECTOR OPTION (RIGHT TO BUY)(7)   (9) 09/04/2017 COMMON STOCK 383(8) $27.4 I(7)(8) SEE FOOTNOTES(7)(8)
DIRECTOR OPTION (RIGHT TO BUY)(7)   (9) 11/14/2017 COMMON STOCK 239(8) $23 I(7)(8) SEE FOOTNOTES(7)(8)
DIRECTOR OPTION (RIGHT TO BUY)(7)   (9) 02/27/2018 COMMON STOCK 514(8) $20.4 I(7)(8) SEE FOOTNOTES(7)(8)
DIRECTOR OPTION (RIGHT TO BUY)(7)   (9) 05/20/2018 COMMON STOCK 305(8) $18 I(7)(8) SEE FOOTNOTES(7)(8)
DIRECTOR OPTION (RIGHT TO BUY)(7)   (9) 09/17/2018 COMMON STOCK 294(8) $18.7 I(7)(8) SEE FOOTNOTES(7)(8)
DIRECTOR OPTION (RIGHT TO BUY)(7)   (9) 11/05/2018 COMMON STOCK 517(8) $14.5 I(7)(8) SEE FOOTNOTES(7)(8)
DIRECTOR OPTION (RIGHT TO BUY)(7)   (9) 03/06/2019 COMMON STOCK 1,591(8) $6.6 I(7)(8) SEE FOOTNOTES(7)(8)
DIRECTOR OPTION (RIGHT TO BUY)(7)   (9) 06/04/2019 COMMON STOCK 1,180(8) $7.2 I(7)(8) SEE FOOTNOTES(7)(8)
DIRECTOR OPTION (RIGHT TO BUY)(7)   (9) 09/17/2019 COMMON STOCK 763(8) $8.52 I(7)(8) SEE FOOTNOTES(7)(8)
DIRECTOR OPTION (RIGHT TO BUY)(7)   (9) 11/10/2019 COMMON STOCK 1,042(8) $10.08 I(7)(8) SEE FOOTNOTES(7)(8)
DIRECTOR OPTION (RIGHT TO BUY)(7)   (9) 02/25/2020 COMMON STOCK 585(8) $12.84 I(7)(8) SEE FOOTNOTES(7)(8)
DIRECTOR OPTION (RIGHT TO BUY)(7)   (9) 05/11/2020 COMMON STOCK 683(8) $12.46 I(7)(8) SEE FOOTNOTES(7)(8)
DIRECTOR OPTION (RIGHT TO BUY)(7)   (9) 09/20/2010 COMMON STOCK 1,094(8) $10.97 I(7)(8) SEE FOOTNOTES(7)(8)
DIRECTOR OPTION (RIGHT TO BUY)(7)   (9) 11/18/2020 COMMON STOCK 996(8) $10.55 I(7)(8) SEE FOOTNOTES(7)(8)
DIRECTOR OPTION (RIGHT TO BUY)(7)   (9) 03/10/2021 COMMON STOCK 1,188(8) $13.89 I(7)(8) SEE FOOTNOTES(7)(8)
DIRECTOR OPTION (RIGHT TO BUY)(7)   (9) 05/27/2021 COMMON STOCK 1,000(8) $12 I(7)(8) SEE FOOTNOTES(7)(8)
DIRECTOR OPTION (RIGHT TO BUY)(7)(10)   (9) 09/15/2021 COMMON STOCK 1,412(8) $8.5 I(7)(8) SEE FOOTNOTES(7)(8)

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Oak Investment Partners XIII, Limited Partnership
ONE GORHAM ISLAND
WESTPORT, CT 06880
    X    
OAK INVESTMENT PARTNERS IX L P

 
    X    
OAK IX AFFILIATES FUND LP
ONE GORHAM ISLAND
WESTPORT, CT 06880
    X    
OAK IX AFFILIATES FUND A LP
ONE GORHAM ISLAND
WESTPORT, CT 06880
    X    
OAK INVESTMENT PARTNERS X LTD PARTNERSHIP

 
    X    
OAK X AFFILIATES FUND LP
ONE GORHAM ISLAND
WESTPORT, CT 06880
    X    

Signatures

/s/ Bandel L. Carano, as managing member of Oak Associates XIII, LLC, the General Partner of Oak Investment Partners XIII, Limited Partnership 05/14/2012
** Signature of Reporting Person Date

/s/ Bandel L. Carano, as managing member of Oak Associates XIII, LLC 05/14/2012
** Signature of Reporting Person Date

/s/ Bandel L. Carano, as managing member of Oak Associates IX, LLC, the General Partner of Oak Investment Partners IX, Limited Partnership 05/14/2012
** Signature of Reporting Person Date

/s/ Bandel L. Carano, as managing member of Oak Associates IX, LLC 05/14/2012
** Signature of Reporting Person Date

/s/ Bandel L. Carano, as managing member of Oak IX Affiliates, LLC, the General Partner of Oak IX Affiliates Fund, Limited Partnership 05/14/2012
** Signature of Reporting Person Date

/s/ Bandel L. Carano, as managing member of Oak IX Affiliates, LLC, the General Partner of Oak IX Affiliates Fund-A, Limited Partnership 05/14/2012
** Signature of Reporting Person Date

/s/ Bandel L. Carano, as managing member of Oak IX Affiliates, LLC 05/14/2012
** Signature of Reporting Person Date

/s/ Bandel L. Carano, as managing member of Oak Associates X, LLC, the General Partner of Oak Investment Partners X, Limited Partnership 05/14/2012
** Signature of Reporting Person Date

/s/ Bandel L. Carano, as managing member of Oak Associates X, LLC 05/14/2012
** Signature of Reporting Person Date

/s/ Bandel L. Carano, as managing member of Oak X Affiliates, LLC, the General Partner of Oak X Affiliates Fund, Limited Partnership and as managing member of Oak X Affiliates, LLC 05/14/2012
** Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Represents shares directly owned by Oak Investment Partners XIII, Limited Partnership ("Oak XIII"). These shares were purchased pursuant to a public offering of the Issuer that closed on May 14, 2012.
(2) Represents shares directly owned by Oak Investment Partners IX, Limited Partnership ("Oak IX").
(3) Represents shares directly owned by Oak IX Affiliates Fund, Limited Partnership ("Oak IX Affiliates").
(4) Represents shares directly owned by Oak IX Affiliates Fund-A, Limited Partnership ("Oak IX Affiliates-A").
(5) Represents shares directly owned by Oak Investment Partners X, Limited Partnership ("Oak X").
(6) Represents shares directly owned by Oak X Affiliates Fund, Limited Partnership ("Oak X Affiliates" and together with Oak XIII, Oak IX, Oak IX Affiliates, Oak IX Affiliates-A, and Oak X, the "Oak Funds").
(7) Represents options received in lieu of cash fees from Bandel Carano's service on the Issuer's Board of Directors. Mr. Carano is a Managing Member of (i) Oak Associates XIII, LLC, the General Partner of Oak XIII, (ii) Oak Associates IX, LLC, the General Partner of Oak IX, (iii) Oak IX Affiliates, LLC, the General Partner of each of Oak IX Affiliates and Oak IX Affiliates-A, (iv) Oak Associates X, LLC, the General Partner of Oak X, and (v) Oak X Affiliates, LLC, the General Partner of Oak X Affiliates.
(8) Mr. Carano has Director Options exercisable for a total of 28,930 shares of Common Stock, 28,470 shares of which are held by Mr. Carano on behalf of Oak X and 460 shares of which are held by Mr. Carano on behalf of Oak X Affiliates. Approximately 98.4% of each option grant is held by Mr. Carano on behalf of Oak X and approximately 1.6% of each such option grant is held by Mr. Carano on behalf of Oak X Affiliates.
(9) All options are immediately exercisable.
(10) Reporting Person has two additional Director Options to report but the maximum number of rows/entries for Table II on the electronic Form 4 have been exceeded. The two additional Director Options to be reported are as follows: (1) Director Option (Right to Buy) (footnote 7), Date Exercisable: footnote 9, Expiration Date: 11/14/2021, Title: Common Stock, Amount or Number of Shares: 2,254 (footnote 8), Conversion or Exercise Price: 5.77, Ownership: Indirect (footnotes 7 and 8), Nature of Director Beneficial Ownership: See Footnotes 7 and 8; and (2) Director Option (Right to Buy) (footnote 7), Date Exercisable: footnote 9, Expiration Date: 3/15/2022, Title: Common Stock, Amount or Number of Shares: 1,939(footnote 8), Conversion or Exercise Price: 6.19, Ownership: Indirect (footnotes 7 and 8), Nature of Director Beneficial Ownership: See Footnotes 7 and 8.
 
Remarks:
Oak IX, Oak IX Affiliates, Oak IX Affiliates-A, Oak X and Oak X Affiliates, and their respective General Partners, are filing this report because they may be deemed to be included in a "group" with Oak XIII and its General Partner, which are a Reporting Person with respect to the Issuer. Henceforth, any future changes in the beneficial ownership of the Issuer held by Oak IX, Oak IX Affiliates, Oak IX Affiliates-A, Oak X and Oak X Affiliates may be reported in joint filings with Oak XIII.  Each of the foregoing entities disclaims beneficial ownership of any securities (except to the extent of its pecuniary interest in such securities) other than any securities reported herein as being directly owned by such entity, and this report shall not be deemed an admission that such entity is the beneficial owner of any such securities for purposes of Section 16 or for any other purpose.  

Bandel Carano is a Director of the Issuer as well as the Managing Member of the General Partners of the Oak Funds as disclosed in footnote 7 above.  Mr. Carano is concurrently filing a Form 4 to report his beneficial interests in the holdings of the Oak Funds and their General Partners.  The Oak Funds and Mr. Carano reserve the right to consolidate the filings of the Oak Funds and Mr. Carano in the future.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, See Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.

XNAS:KTOS Kratos Defense & Security Solutions Inc Insider Activity 3 Filling

Kratos Defense & Security Solutions Inc XNAS:KTOS Stock - Get Insider Activity SEC Filing of Kratos Defense & Security Solutions Inc XNAS:KTOS stocks, including company profile, shares outstanding, strategy, business segments, operations, officers, consolidated financial statements, financial notes and ownership information.

Content Partners
XNAS:KTOS Kratos Defense & Security Solutions Inc Insider Activity 3 Filing - 5/14/2012
Name |  Ticker |  Star Rating |  Market Cap |  Stock Type |  Sector |  Industry Star Rating |  Investment Style |  Total Assets |  Category |  Top Holdings |  Top Sectors |  Symbol |  Title Star Rating |  Category |  Total Assets |  Top Holdings |  Top Sectors |  Symbol |  Name Title |  Date |  Author |  Collection |  Interest |  Popularity Topic |  Sector |  Key Indicators |  User Interest |  Market Cap |  Industry Name |  Ticker |  Star Rating |  Market Cap |  Stock Type |  Sector |  Industry Star Rating |  Investment Style |  Total Assets |  Category |  Top Holdings |  Top Sectors |  Symbol / Ticker |  Title Star Rating |  Category |  Total Assets |  Symbol / Ticker |  Name Title |  Date |  Author |  Collection |  Popularity |  Interest Title |  Date |  Company |  Symbol |  Interest |  Popularity Topic |  Sector |  Key Indicators |  User Interest |  Market Cap |  Industry Name |  Ticker |  Popularity |  Our Choices Title |  Date |  Company |  Symbol |  Interest |  Popularity

Previous: XNAS:KTEC Key Technology Inc Quarterly Report 10-Q Filing - 6/30/2012  |  Next: XNAS:KTOS Kratos Defense & Security Solutions Inc Insider Activity 3 Filing - 7/2/2012