Edgar Filing: Schreyer Leslie J

Ownership Submission

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 ^*

Schreyer Leslie J

2. Issuer Name and Ticker or Trading Symbol
GLG Partners, Inc. [GLG]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

_____ Director	__X__ 10% Owner
_____ Officer (give title below)	_____ Other (specify below)

(Last)

(First)

(Middle)

C/O GLG PARTNERS, INC., 399 PARK AVENUE, 38TH FLOOR

3. Date of Earliest Transaction (Month/Day/Year)
11/02/2008

(Street)

NEW YORK, NY 10022

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ 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)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock ⁽¹⁾	02/04/2008		A		75,250	A	$ 0 ⁽¹⁾	489,129 ⁽¹⁾ ⁽²⁾ ⁽³⁾	D
Common Stock	11/02/2008		J⁽⁴⁾		61,632	D	$ 3.2	101,412	D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Schreyer Leslie J C/O GLG PARTNERS, INC. 399 PARK AVENUE, 38TH FLOOR NEW YORK, NY 10022		X

Signatures

Leslie J. Schreyer, by: /s/ Alejandro San Miguel, as attorney-in-fact		02/17/2009
^**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)	The shares of restricted stock were awarded to Mr. Schreyer in his individual capacity by GLG Partners, Inc. ("GLG") on February 4, 2008 (the "February 2008 Award") under GLG's 2007 Long-Term Incentive Plan (the "LTIP") and vest in four equal installments on each of November 2, 2008, 2009, 2010 and 2011. On November 2, 2008, the first installment of 18,813 shares vested (see Footnote 4 below).
(2)	Includes shares of restricted stock of GLG awarded to Mr. Schreyer in his individual capacity by GLG on November 2, 2007 under GLG's 2007 Restricted Stock Plan (the "Restricted Stock Plan") and the LTIP in the amounts of 500,000 and 76,923 shares, respectively (the "November 2007 Awards"). Pursuant to the terms of the November 2007 Awards, the shares of restricted stock vest in four equal installments on each of November 2, 2008, 2009, 2010 and 2011. On November 2, 2008, the first installment of 144,231 shares vested (see Footnote 4 below).
(3)	Excludes an aggregate of 144,231 shares of restricted stock that vested pursuant to the terms of the November 2007 Awards and 18,813 shares of restricted stock that vested pursuant to the terms of the February 2008 Award on November 2, 2008.
(4)	Of the 163,044 aggregate shares that vested on November 2, 2008, an aggregate of 61,632 shares were withheld and transferred to GLG to cover Mr. Schreyer's individual tax withholding obligations with respect to the vested shares.

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