CUSIP NO. 51466104
1) Name of Reporting Person
Wynnefield Partners Small Cap Value, L.P. I
2) Check the Appropriate Box If a Member of a Group (See Instructions)
(a)
(b) x Reporting Person is affiliated with other persons
3) SEC USE ONLY
4)  Citizenship or Place of Organization: Delaware
NUMBER OF SHARES	5) Sole Voting Power:
BENEFICIALLY OWNED	493,293 Shares
BY EACH REPORTING
PERSON WITH	6) Shared Voting Power
	7) Sole Dispositive Power:
	493,293 Shares
	8) Shared Dispositive Power
9) Aggregate Amount Beneficially Owned by Each Reporting Person:
493,293 Shares
10) Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares ¨
(See Instructions)
11) Percent of Class Represented by Amount in Row (9):
1.9%
12) Type of Reporting Person: PN

CUSIP NO. 51466104
1) Name of Reporting Person
Wynnefield Small Cap Value Offshore Fund, Ltd.
2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
(b) x Reporting person is affiliated with other persons
3) SEC USE ONLY
4) Citizenship or Place of Organization:  Cayman Islands
NUMBER OF SHARES	5) Sole Voting Power:
BENEFICIALLY OWNED BY	213,175 Shares
EACH REPORTING
PERSON WITH	6) Shared Voting Power
	7) Sole Dispositive Power:
	213,175 Shares
	8) Shared Dispositive Power
9) Aggregate Amount Beneficially Owned by Each Reporting Person:
213,175 Shares
10) Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares ¨
(See Instructions)
11) Percent of Class Represented by Amount in Row (9):
0.8%
12) Type of Reporting Person (See Instructions) CO

CUSIP NO. 51466104
1) Name of Reporting Person
Channel Partnership II, L.P.
2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
(b) x Reporting person is affiliated with other persons
3) SEC USE ONLY
4) Citizenship or Place of Organization:  New York
NUMBER OF SHARES	5) Sole Voting Power:
BENEFICIALLY OWNED BY	6,000 Shares
EACH REPORTING
PERSON WITH	6) Shared Voting Power
	7) Sole Dispositive Power:
	6,000 Shares
	8) Shared Dispositive Power
9) Aggregate Amount Beneficially Owned by Each Reporting Person:
6,000 Shares
10) Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares ¨
(See Instructions)
11) Percent of Class Represented by Amount in Row (9):
0.02%
12) Type of Reporting Person (See Instructions) PN

CUSIP NO. 51466104
1) Name of Reporting Person
Wynnefield Capital, Inc. Profit Sharing Plan
2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
(b) x Reporting person is affiliated with other persons
3) SEC USE ONLY
4) Citizenship or Place of Organization:  Delaware
NUMBER OF SHARES	5) Sole Voting Power:
BENEFICIALLY OWNED BY	40,561 Shares
EACH REPORTING
PERSON WITH	6) Shared Voting Power
	7) Sole Dispositive Power:
	40,561 Shares
	8) Shared Dispositive Power
9) Aggregate Amount Beneficially Owned by Each Reporting Person:
40,561 Shares
10) Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares ¨
(See Instructions)
11) Percent of Class Represented by Amount in Row (9):
0.2%
12) Type of Reporting Person (See Instructions) CO

CUSIP NO. 51466104
1) Name of Reporting Person
Wynnefield Capital Management, LLC
2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
(b) x Reporting person is affiliated with other persons
3) SEC USE ONLY
4) Citizenship or Place of Organization:  New York
NUMBER OF SHARES	5) Sole Voting Power:
BENEFICIALLY OWNED BY	782,982 Shares (1)
EACH REPORTING
PERSON WITH	6) Shared Voting Power
	7) Sole Dispositive Power:
	782,982 Shares (1)
	8) Shared Dispositive Power
9) Aggregate Amount Beneficially Owned by Each Reporting Person:
782,982 Shares (1)
10) Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares ¨
(See Instructions)
11) Percent of Class Represented by Amount in Row (9):
3.0% (1)
12) Type of Reporting Person: OO (Limited Liability Company)

(1)  Wynnefield Capital Management, LLC holds an indirect beneficial interest in these shares which are directly beneficially owned by Wynnefield Partners Small Cap Value, L.P. and Wynnefield Partners Small Cap Value, L.P. I.

CUSIP NO. 51466104
1) Name of Reporting Person
Wynnefield Capital, Inc.
2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a)
(b) x Reporting person is affiliated with other persons
3) SEC USE ONLY
4) Citizenship or Place of Organization:  Cayman Islands
NUMBER OF SHARES	5) Sole Voting Power:
BENEFICIALLY OWNED BY	213,175 Shares (1)
EACH REPORTING
PERSON WITH	6) Shared Voting Power
	7) Sole Dispositive Power:
	213,175 Shares (1)
	8) Shared Dispositive Power
9) Aggregate Amount Beneficially Owned by Each Reporting Person:
213,175 Shares (1)
10) Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares ¨
(See Instructions)
11) Percent of Class Represented by Amount in Row (9):
0.8% (1)
12) Type of Reporting Person (See Instructions) CO

(1)  Wynnefield Capital, Inc. holds an indirect beneficial interest in these shares which are directly beneficially owned by Wynnefield Small Cap Value Offshore Fund, Ltd.

CUSIP NO.  51466104
1) Name of Reporting Person
Nelson Obus
2) Check The Appropriate Box If A Member Of A Group (See Instructions)
(a)
(b)x Reporting person is affiliated with other persons
3) SEC Use Only
4) Citizenship Or Place Of Organization:  United States
NUMBER OF SHARES	5) Sole Voting Power:
BENEFICIALLY OWNED	1,042,718 Shares (1)
BY EACH REPORTING
PERSON WITH	6) Shared Voting Power
	0
	7) Sole Dispositive Power:
	1,042,718 Shares (1)
	8) Shared Dispositive Power
	0
9)  Aggregate Amount Beneficially Owned By Each Reporting Person:
1,042,718 Shares (1)
10) Check Box If The Aggregate Amount In Row (9) Excludes Certain Shares ¨
(See Instructions)
11) Percent of Class Represented by Amount in Row (9):
4.0%
12) Type of Reporting Person (See Instructions) IN

(1)           Mr. Obus may be deemed to hold an indirect beneficial interest in these shares, which are directly beneficially owned by Wynnefield Partners Small Cap Value, L.P., Wynnefield Partners Small Cap Value, L.P. I, Wynnefield Small Cap Value Offshore Fund, Ltd., Channel Partnership II, L.P. and Wynnefield Capital, Inc. Profit Sharing Plan, because he is a co-managing member of Wynnefield Capital Management, LLC, a principal executive officer of Wynnefield Capital, Inc. (the investment manager of Wynnefield Small Cap Value Offshore Fund, Ltd.), the general partner of Channel Partnership II, L.P. and the portfolio manager of Wynnefield Capital, Inc. Profit Sharing Plan.  The filing of this Statement and any future amendment by Mr. Obus, and the inclusion of information herein and therein with respect to Mr. Obus, shall not be considered an admission that he, for the purpose of Section 16(b) of the Exchange Act, is the beneficial owner of any shares in which he does not have a pecuniary interest.  Mr. Obus disclaims any beneficial ownership of the shares of Common Stock covered by this Statement.

 

8

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CUSIP NO.  51466104
1) Name of Reporting Person
Joshua Landes
2) Check The Appropriate Box If A Member Of A Group (See Instructions)
(a)
(b)x Reporting person is affiliated with other persons
3) SEC Use Only
4) Citizenship Or Place Of Organization:  United States
NUMBER OF SHARES	5) Sole Voting Power:
BENEFICIALLY OWNED	996,157 Shares (1)
BY EACH REPORTING
PERSON WITH	6) Shared Voting Power
	0
	7) Sole Dispositive Power:
	996,157 Shares (1)
	8) Shared Dispositive Power
	0
9)  Aggregate Amount Beneficially Owned By Each Reporting Person:
996,157 Shares (1)
10) Check Box If The Aggregate Amount In Row (9) Excludes Certain Shares ¨
(See Instructions)
11) Percent of Class Represented by Amount in Row (9):
3.8%
12) Type of Reporting Person (See Instructions) IN

(1) Mr. Landes may be deemed to hold an indirect beneficial interest in these shares, which are directly beneficially owned by Wynnefield Partners Small Cap Value, L.P., Wynnefield Partners Small Cap Value, L.P. I, and Wynnefield Small Cap Value Offshore Fund, Ltd., because he is a co-managing member of Wynnefield Capital Management, LLC and a principal executive officer of Wynnefield Capital, Inc. (the investment manager of Wynnefield Small Cap Value Offshore Fund, Ltd.). The filing of this Statement and any future amendment by Mr. Landes, and the inclusion of information herein and therein with respect to Mr. Landes, shall not be considered an admission that he, for the purpose of Section 16(b) of the Exchange Act, is the beneficial owner of any shares in which he does not have a pecuniary interest.  Mr. Landes disclaims any beneficial ownership of the shares of Common Stock covered by this Statement.

 

9

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ITEM 1(a).  Name of Issuer:

Landec Corporation

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ITEM 1(b).  Address of Issuer's Principal Executive Offices:

3603 Haven Avenue

Menlo Park, California 94025

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ITEM 2(a).  Names of Persons Filing:

Wynnefield Partners Small Cap Value, L.P. ("Partners")

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Wynnefield Partners Small Cap Value, L.P. I ("Partners I")

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Wynnefield Small Cap Value Offshore Fund, Ltd. ("Fund")

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Channel Partnership II, L.P. ("Channel")

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Wynnefield Capital, Inc. Profit Sharing Plan (the "Plan")

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Wynnefield Capital Management, LLC ("WCM")

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Wynnefield Capital, Inc. ("WCI")

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Nelson Obus

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Joshua Landes

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ITEM 2(b).  Address of Principal Business Office Or, If None, Residence:

450 Seventh Avenue, Suite 509, New York, New York 10123

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ITEM 2(c).  Citizenship:

Partners and  Partners I  are Delaware limited partnerships.

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Fund and WCI are Cayman Islands companies.

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WCM is a New York limited liability company.

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Channel is a New York limited partnership.

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The Plan is a Delaware corporation.

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Mr. Obus is a United States citizen.

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Mr. Landes is a United States citizen.

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ITEM 2(d).  Title of Class of Securities:

Common Stock, $0.001 par value

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ITEM 2(e).  CUSIP Number:               51466104

ITEM 3.     If this Statement is filed pursuant to Rules 13d-1(b) or 13d-2(b) or (c), check whether the person filing is:

¨ Broker or dealer registered under Section 15 of the Act.

¨ Bank as defined in Section 3(a)(6) of the Act.

¨ Insurance company as defined in Section 3(a)(19) of the Act.

¨ Investment company registered under Section 8 of the Investment Company Act of 1940.

¨ An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);

¨ An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F);

¨ A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G);

¨ A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

¨ A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940;

¨ Group, in accordance with Rule 13d-1(b)(1)(ii)(J).

This statement is filed pursuant to Rule 13d-1(c).

ITEM 4.     Ownership:

(a) Amount beneficially owned by all reporting persons:  1,042,718 Shares

(b) Percent of class:  4.0% of Common Stock.

(c) Number of shares as to which the reporting persons have:

(i)   sole power to vote or to direct the vote:

1,042,718 Shares

(ii)  shared power to vote or to direct the vote:

(iii) sole power to dispose or to direct the disposition:

1,042,718 Shares

(iv)  shared power to dispose or to direct the disposition:

ITEM 5.  Ownership of five percent or less of a class.

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following x.

 

ITEM 6.  Ownership of more than five percent on behalf of another person.

Not applicable.

 

ITEM 7.  Identification and classification of the subsidiary which acquired the security being reported on by the parent holding company.

Not applicable.

 

ITEM 8.  Identification and classification of members of the group.

See Item 2 (a) - (c).

 

ITEM 9.  Notice of dissolution of group.

Not applicable.

ITEM 10.  Certifications.

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection or as a participant in any transaction having that purpose or effect.

 

Dated:  February 12, 2010

 

WYNNEFIELD PARTNERS SMALL CAP VALUE, L.P.
By:	Wynnefield Capital Management, LLC, General Partner
	By:	/s/ Nelson Obus
		Nelson Obus, Co-Managing Member
WYNNEFIELD PARTNERS SMALL CAP VALUE, L.P. I
By:	Wynnefield Capital Management, LLC, General Partner
	By:	/s/ Nelson Obus
		Nelson Obus, Co-Managing Member
WYNNEFIELD SMALL CAP VALUE OFFSHORE FUND, LTD.
By:	Wynnefield Capital, Inc.
	By:	/s/ Nelson Obus
		Nelson Obus, President
CHANNEL PARTNERSHIP II, L.P.
	By:	/s/ Nelson Obus
		Nelson Obus, General Partner
WYNNEFIELD CAPITAL MANAGEMENT, LLC
	By:	/s/ Nelson Obus
		Nelson Obus, Co-Managing Member
WYNNEFIELD CAPITAL, INC.
	By:	/s/ Nelson Obus
		Nelson Obus, President
WYNNEFIELD CAPITAL, INC. PROFIT SHARING PLAN
	By:	/s/ Nelson Obus
		Nelson Obus, Portfolio Manager
/s/ Nelson Obus
Nelson Obus, Individually
/s/ Joshua Landes
Joshua Landes, Individually