XNAS:ADNC Audience Inc Insider Activity 4 Filing - 5/15/2012

Effective Date 5/15/2012

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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN 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
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(Print or Type Responses)
1. Name and Address of Reporting Person *
TALLWOOD III L P
  2. Issuer Name and Ticker or Trading Symbol
AUDIENCE INC [ADNC]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
_____ Officer (give title below) __X__ Other (specify below)
See Remarks
(Last)
(First)
(Middle)
C/O TALLWOOD VENTURE CAPITAL, 3000 SAND HILL RD, BUILDING 3, SUITE 240
3. Date of Earliest Transaction (Month/Day/Year)
05/15/2012
(Street)

MENLO PARK, CA 94025
4. If Amendment, Date Original Filed (Month/Day/Year)
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 Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 05/15/2012   C   1,042,323 A (1) 1,042,323 I See Footnote(2)
Common Stock 05/15/2012   C   131,990 A (1) 131,990 I See Footnote(3)
Common Stock 05/15/2012   C   8,075 A (1) 8,075 I See Footnote(4)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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. SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Series E Preferred Stock(1) (1) 05/15/2012   C     1,042,323   (1)   (5) Common Stock 1,042,323 (1) 0 I See Footnote(2)
Series E Preferred Stock(1) (1) 05/15/2012   C     131,990   (1)   (5) Common Stock 131,990 (1) 0 I See Footnote(3)
Series E Preferred Stock(1) (1) 05/15/2012   C     8,075   (1)   (5) Common Stock 8,075 (1) 0 I See Footnote(4)

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
TALLWOOD III L P
C/O TALLWOOD VENTURE CAPITAL
3000 SAND HILL RD, BUILDING 3, SUITE 240
MENLO PARK, CA 94025
      See Remarks
TALLWOOD III PARTNERS L P
C/O TALLWOOD VENTURE CAPITAL
3000 SAND HILL RD, BUILDING 3, SUITE 240
MENLO PARK, CA 94025
      See Remarks
Tallwood III Associates LP
C/O TALLWOOD VENTURE CAPITAL
3000 SAND HILL RD, BUILDING 3, SUITE 240
MENLO PARK, CA 94025
      See Remarks
Tallwood III Management LLC
C/O TALLWOOD VENTURE CAPITAL
3000 SAND HILL RD, BUILDING 3, SUITE 240
MENLO PARK, CA 94025
      See Remarks

Signatures

 /s/ Natasha Skok, as Atty-in-Fact for Tallwood III Management, LLC as General Partner for Tallwood III, L.P.   05/17/2012
** Signature of Reporting Person Date

 /s/ Natasha Skok, as Atty-in-Fact for Tallwood III Management, LLC as General Partner for Tallwood III Partners, L.P.   05/17/2012
** Signature of Reporting Person Date

 /s/ Natasha Skok, as Atty-in-Fact for Tallwood III Management, LLC as General Partner for Tallwood III Associates, L.P.   05/17/2012
** Signature of Reporting Person Date

 /s/ Natasha Skok, as Atty-in-Fact for Tallwood III Management, LLC   05/17/2012
** Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(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) Each share of Series E Preferred Stock automatically converted into one share of common stock immediately prior to the consummation of the Issuer's initial public offering.
(2) The shares are held by Tallwood III, L.P. ("Tallwood III"). Tallwood III Management, LLC ("Tallwood III Management") is the general partner of Tallwood III. Tallwood III Management may be deemed to share voting and dispositive power with respect to the shares owned by Tallwood III, but disclaims beneficial ownership except to the extent of its pecuniary interest therein.
(3) The shares are held by Tallwood III Partners, L.P. ("Tallwood III Partners"). Tallwood III Management is the general partner of Tallwood III Partners. Tallwood III Management may be deemed to share voting and dispositive power with respect to the shares owned by Tallwood III Partners, but disclaims beneficial ownership except to the extent of its pecuniary interest therein.
(4) The shares are held by Tallwood III Associates, L.P. ("Tallwood III Associates"). Tallwood III Management is the general partner of Tallwood III Associates. Tallwood III Management may be deemed to share voting and dispositive power with respect to the shares owned by Tallwood III Associates, but disclaims beneficial ownership except to the extent of its pecuniary interest therein.
(5) The expiration date is not relevant to the conversion of these securities.
 
Remarks:
The Reporting Persons are 10% owners when their total ownership is aggregated with the holdings of affiliated stockholders.

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:ADNC Audience Inc Insider Activity 4 Filling

Audience Inc XNAS:ADNC Stock - Get Insider Activity SEC Filing of Audience Inc XNAS:ADNC stocks, including company profile, shares outstanding, strategy, business segments, operations, officers, consolidated financial statements, financial notes and ownership information.

XNAS:ADNC Audience Inc Insider Activity 4 Filing - 5/15/2012
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