<SEC-DOCUMENT>0000921895-17-000055.txt : 20170113
<SEC-HEADER>0000921895-17-000055.hdr.sgml : 20170113
<ACCEPTANCE-DATETIME>20170113171905
ACCESSION NUMBER:		0000921895-17-000055
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20170111
FILED AS OF DATE:		20170113
DATE AS OF CHANGE:		20170113

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MAGNACHIP SEMICONDUCTOR Corp
		CENTRAL INDEX KEY:			0001325702
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		IRS NUMBER:				830406195
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		C/O MAGNACHIP SEMICONDUCTOR S.A.
		STREET 2:		74, RUE DE MERL
		CITY:			LUXEMBOURG
		STATE:			N4
		ZIP:			L-2146
		BUSINESS PHONE:		(352) 45-62-62

	MAIL ADDRESS:	
		STREET 1:		C/O MAGNACHIP SEMICONDUCTOR S.A.
		STREET 2:		74, RUE DE MERL
		CITY:			LUXEMBOURG
		STATE:			N4
		ZIP:			L-2146

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MAGNACHIP SEMICONDUCTOR LLC
		DATE OF NAME CHANGE:	20110304

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MAGNACHIP SEMICONDUCTOR Corp
		DATE OF NAME CHANGE:	20110303

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MAGNACHIP SEMICONDUCTOR LLC
		DATE OF NAME CHANGE:	20100701

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Engaged Capital Flagship Fund, Ltd.
		CENTRAL INDEX KEY:			0001619827
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34791
		FILM NUMBER:		17528647

	BUSINESS ADDRESS:	
		STREET 1:		610 NEWPORT CENTER DRIVE
		STREET 2:		SUITE 250
		CITY:			NEWPORT BEACH
		STATE:			CA
		ZIP:			92660
		BUSINESS PHONE:		949-734-7900

	MAIL ADDRESS:	
		STREET 1:		610 NEWPORT CENTER DRIVE
		STREET 2:		SUITE 250
		CITY:			NEWPORT BEACH
		STATE:			CA
		ZIP:			92660

	FORMER NAME:	
		FORMER CONFORMED NAME:	Engaged Capital Fund, Ltd.
		DATE OF NAME CHANGE:	20160805

	FORMER NAME:	
		FORMER CONFORMED NAME:	Engaged Capital Flagship Fund, Ltd.
		DATE OF NAME CHANGE:	20160707

	FORMER NAME:	
		FORMER CONFORMED NAME:	Engaged Capital II Offshore, Ltd.
		DATE OF NAME CHANGE:	20140918

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Engaged Capital Flagship Fund, L.P.
		CENTRAL INDEX KEY:			0001559850
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34791
		FILM NUMBER:		17528648

	BUSINESS ADDRESS:	
		STREET 1:		610 NEWPORT CENTER DRIVE
		STREET 2:		SUITE 250
		CITY:			NEWPORT BEACH
		STATE:			CA
		ZIP:			90272
		BUSINESS PHONE:		949-734-7900

	MAIL ADDRESS:	
		STREET 1:		610 NEWPORT CENTER DRIVE
		STREET 2:		SUITE 250
		CITY:			NEWPORT BEACH
		STATE:			CA
		ZIP:			90272

	FORMER NAME:	
		FORMER CONFORMED NAME:	Engaged Capital Fund, LP
		DATE OF NAME CHANGE:	20160805

	FORMER NAME:	
		FORMER CONFORMED NAME:	Engaged Capital Flagship Fund, LP
		DATE OF NAME CHANGE:	20160707

	FORMER NAME:	
		FORMER CONFORMED NAME:	ENGAGED CAPITAL II LP
		DATE OF NAME CHANGE:	20121009

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Engaged Capital Flagship Master Fund, LP
		CENTRAL INDEX KEY:			0001580761

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34791
		FILM NUMBER:		17528649

	BUSINESS ADDRESS:	
		STREET 1:		CRICKET SQUARE, HUTCHINS DRIVE
		STREET 2:		P.O. BOX 2681
		CITY:			GRAND CAYMAN
		STATE:			E9
		ZIP:			KY1-1111
		BUSINESS PHONE:		(949) 734-7900

	MAIL ADDRESS:	
		STREET 1:		CRICKET SQUARE, HUTCHINS DRIVE
		STREET 2:		P.O. BOX 2681
		CITY:			GRAND CAYMAN
		STATE:			E9
		ZIP:			KY1-1111

	FORMER NAME:	
		FORMER CONFORMED NAME:	Engaged Capital Master Feeder II, LP
		DATE OF NAME CHANGE:	20130703

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Welling Glenn W.
		CENTRAL INDEX KEY:			0001580771

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34791
		FILM NUMBER:		17528651

	MAIL ADDRESS:	
		STREET 1:		610 NEWPORT CENTER DRIVE
		STREET 2:		SUITE 250
		CITY:			NEWPORT BEACH
		STATE:			CA
		ZIP:			92660

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Engaged Capital LLC
		CENTRAL INDEX KEY:			0001559771
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34791
		FILM NUMBER:		17528652

	BUSINESS ADDRESS:	
		STREET 1:		610 NEWPORT CENTER DRIVE
		STREET 2:		SUITE 250
		CITY:			NEWPORT BEACH
		STATE:			CA
		ZIP:			92660
		BUSINESS PHONE:		949-734-7900

	MAIL ADDRESS:	
		STREET 1:		610 NEWPORT CENTER DRIVE
		STREET 2:		SUITE 250
		CITY:			NEWPORT BEACH
		STATE:			CA
		ZIP:			92660

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Engaged Capital Holdings, LLC
		CENTRAL INDEX KEY:			0001580769

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34791
		FILM NUMBER:		17528650

	BUSINESS ADDRESS:	
		STREET 1:		610 NEWPORT CENTER DRIVE
		STREET 2:		SUITE 250
		CITY:			NEWPORT BEACH
		STATE:			CA
		ZIP:			92660
		BUSINESS PHONE:		(949) 734-7900

	MAIL ADDRESS:	
		STREET 1:		610 NEWPORT CENTER DRIVE
		STREET 2:		SUITE 250
		CITY:			NEWPORT BEACH
		STATE:			CA
		ZIP:			92660
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form409455015_01132017.xml
<DESCRIPTION>OWNERSHIP DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2017-01-11</periodOfReport>

    <notSubjectToSection16>1</notSubjectToSection16>

    <issuer>
        <issuerCik>0001325702</issuerCik>
        <issuerName>MAGNACHIP SEMICONDUCTOR Corp</issuerName>
        <issuerTradingSymbol>MX</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001559771</rptOwnerCik>
            <rptOwnerName>Engaged Capital LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>610 NEWPORT CENTER DRIVE</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 250</rptOwnerStreet2>
            <rptOwnerCity>NEWPORT BEACH</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>92660</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <officerTitle></officerTitle>
            <otherText>See Footnote 1</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001580771</rptOwnerCik>
            <rptOwnerName>Welling Glenn W.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O ENGAGED CAPITAL, LLC</rptOwnerStreet1>
            <rptOwnerStreet2>610 NEWPORT CENTER DR. SUITE 250</rptOwnerStreet2>
            <rptOwnerCity>NEWPORT BEACH</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>92660</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <officerTitle></officerTitle>
            <otherText>See Footnote 1</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001580769</rptOwnerCik>
            <rptOwnerName>Engaged Capital Holdings, LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>610 NEWPORT CENTER DRIVE</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 250</rptOwnerStreet2>
            <rptOwnerCity>NEWPORT BEACH</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>92660</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <officerTitle></officerTitle>
            <otherText>See Footnote 1</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001580761</rptOwnerCik>
            <rptOwnerName>Engaged Capital Flagship Master Fund, LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>CRICKET SQUARE, HUTCHINS DRIVE</rptOwnerStreet1>
            <rptOwnerStreet2>P.O. BOX 2681</rptOwnerStreet2>
            <rptOwnerCity>GRAND CAYMAN</rptOwnerCity>
            <rptOwnerState>E9</rptOwnerState>
            <rptOwnerZipCode>KY1-1111</rptOwnerZipCode>
            <rptOwnerStateDescription>CAYMAN ISLANDS</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <officerTitle></officerTitle>
            <otherText>See Footnote 1</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001559850</rptOwnerCik>
            <rptOwnerName>Engaged Capital Flagship Fund, L.P.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>610 NEWPORT CENTER DRIVE</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 250</rptOwnerStreet2>
            <rptOwnerCity>NEWPORT BEACH</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>92660</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <officerTitle></officerTitle>
            <otherText>See Footnote 1</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001619827</rptOwnerCik>
            <rptOwnerName>Engaged Capital Flagship Fund, Ltd.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>610 NEWPORT CENTER DRIVE</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 250</rptOwnerStreet2>
            <rptOwnerCity>NEWPORT BEACH</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>92660</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <officerTitle></officerTitle>
            <otherText>See Footnote 1</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, par value $0.01 per share</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <transactionDate>
                <value>2017-01-11</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>347850</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>6.35</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>3105124</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By: Engaged Capital Flagship Master Fund, LP</value>
                    <footnoteId id="F2"/>
                    <footnoteId id="F6"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, par value $0.01 per share</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <transactionDate>
                <value>2017-01-11</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>52150</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>6.35</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>347850</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By: Managed Account of Engaged Capital, LLC</value>
                    <footnoteId id="F3"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>5.00% Exchangeable Senior Notes due 2021</value>
                <footnoteId id="F4"/>
                <footnoteId id="F5"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>8.2550</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2017-01-11</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionTotalValue>
                    <value>4496288</value>
                </transactionTotalValue>
                <transactionPricePerShare>
                    <value>4496288</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F4"/>
            </exerciseDate>
            <expirationDate>
                <value>2021-03-01</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock, par value $0.01 per share</value>
                    <footnoteId id="F1"/>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>544674</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <valueOwnedFollowingTransaction>
                    <value>4496288</value>
                </valueOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By: Engaged Capital Flagship Master Fund, LP</value>
                    <footnoteId id="F2"/>
                    <footnoteId id="F6"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>5.00% Exchangeable Senior Notes due 2021</value>
                <footnoteId id="F4"/>
                <footnoteId id="F5"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>8.2550</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2017-01-11</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionTotalValue>
                    <value>503712</value>
                </transactionTotalValue>
                <transactionPricePerShare>
                    <value>503712</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F4"/>
            </exerciseDate>
            <expirationDate>
                <value>2021-03-01</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock, par value $0.01 per share</value>
                    <footnoteId id="F1"/>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>61019</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <valueOwnedFollowingTransaction>
                    <value>503712</value>
                </valueOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By: Managed Account of Engaged Capital, LLC</value>
                    <footnoteId id="F3"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">This Form 4 is filed jointly by Engaged Capital Flagship Master Fund, LP (&quot;Engaged Capital Flagship Master&quot;), Engaged Capital Flagship Fund, LP (&quot;Engaged Capital Fund&quot;), Engaged Capital Flagship Fund, Ltd. (&quot;Engaged Capital Offshore&quot;), Engaged Capital, LLC (&quot;Engaged Capital&quot;), Engaged Capital Holdings, LLC (&quot;Engaged Holdings&quot;) and Glenn W. Welling (collectively, the &quot;Reporting Persons&quot;). Each of the Reporting Persons may be deemed to be a member of a Section 13(d) group that no longer collectively beneficially owns 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.</footnote>
        <footnote id="F2">Securities owned directly by Engaged Capital Flagship Master. As feeder funds of Engaged Capital Flagship Master, each of Engaged Capital Fund and Engaged Capital Offshore may be deemed to beneficially own the securities owned directly by Engaged Capital Flagship Master. As the general partner and investment adviser of Engaged Capital Flagship Master, Engaged Capital may be deemed to beneficially own the securities owned directly by Engaged Capital Flagship Master. Engaged Holdings, as the managing member of Engaged Capital, may be deemed to beneficially own the securities owned directly by Engaged Capital Flagship Master. Mr. Welling, as the Founder and Chief Investment Officer of Engaged Capital and sole member of Engaged Holdings, may be deemed to beneficially own the securities owned directly by Engaged Capital Flagship Master.</footnote>
        <footnote id="F3">Securities held in an account separately managed by Engaged Capital (the &quot;Engaged Capital Account&quot;). Engaged Capital, as the investment adviser of the Engaged Capital Account, may be deemed to beneficially own the securities held in the Engaged Capital Account. Engaged Holdings, as the managing member of Engaged Capital, may be deemed to beneficially own the securities held in the Engaged Capital Account. Mr. Welling, as the Founder and Chief Investment Officer of Engaged Capital and sole member of Engaged Holdings, may be deemed to beneficially own the securities held in the Engaged Capital Account.</footnote>
        <footnote id="F4">The 5.00% Exchangeable Senior Notes due 2021 (the &quot;Convertible Notes&quot;) bear interest at a rate of 5.00% per annum, with interest payable semiannually. The principal of the Convertible Notes is convertible into shares of the Issuer's Common Stock at any time after their issuance at a conversion price of approximately $8.2550 per share, subject to adjustment in certain circumstances in accordance with the terms of the Convertible Notes; however, the Convertible Notes are subject to a blocker provision that precludes holders from converting the Convertible Notes to the extent that the holder and its affiliates would beneficially own (as determined in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the &quot;Exchange Act&quot;)) in excess of 9.99% of the Issuer's shares outstanding immediately after giving effect to such conversion.</footnote>
        <footnote id="F5">At the time the Convertible Notes were purchased (pre-market January 11, 2017), the market value of the Issuer's Common Stock was $6.35, based off of the closing price of the Common Stock on January 10, 2017. On January 11, 2017, the Common Stock opened at $6.55 and closed at $6.70, with a low of $6.40 and a high of $6.85 during the day. As such, in accordance with Rule 16b-6(c)(2) under the Exchange Act, there are no recoverable profits in connection with the transactions reported herein.</footnote>
        <footnote id="F6">Effective July 1, 2016, Engaged Capital Master Feeder II, LP changed its name to Engaged Capital Flagship Master Fund, LP, Engaged Capital II, LP changed its name to Engaged Capital Flagship Fund, LP and Engaged Capital II Offshore Ltd. changed its name to Engaged Capital Flagship Fund, Ltd.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Engaged Capital, LLC; By: /s/ Glenn W. Welling, Authorized Signatory</signatureName>
        <signatureDate>2017-01-13</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Glenn W. Welling</signatureName>
        <signatureDate>2017-01-13</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Engaged Capital Holdings, LLC; By: /s/ Glenn W. Welling, Authorized Signatory</signatureName>
        <signatureDate>2017-01-13</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Engaged Capital Flagship Master Fund, LP; By: Engaged Capital, LLC; By: /s/ Glenn W. Welling, Authorized Signatory</signatureName>
        <signatureDate>2017-01-13</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Engaged Capital Flagship Fund, LP; By: Engaged Capital, LLC; By: /s/ Glenn W. Welling, Authorized Signatory</signatureName>
        <signatureDate>2017-01-13</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Engaged Capital Flagship Fund, Ltd.; By: /s/ Glenn W. Welling, Director</signatureName>
        <signatureDate>2017-01-13</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
