SEC Form 4 · accession 0001140361-16-085884
ADESTO TECHNOLOGIES Corp · IOTS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Thomas D Spade
Officer — VP, Worldwide Sales
Period of report
Oct 29, 2016
Accepted (ET)
Nov 10, 2016 · 5:25 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001395848
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF2 | Oct 29, 2016 | M | 385 | $0.00 | A | 1,540 | D | |
| Common StockF4 | Oct 30, 2016 | M | 20,229 | $0.00 | A | 41,999 | D | |
| Common StockF5,F6 | Nov 1, 2016 | S | 9,654 | $1.7346 | D | 32,345 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF2,F1,F7,F8 | $0.00 | Oct 29, 2016 | M | 1,540 | D | — | — | Common Stock | 1,540 | 0 | D |
| Restricted Stock UnitsF3,F4,F7,F9 | $0.00 | Oct 30, 2016 | M | 40,459 | D | — | — | Common Stock | 40,459 | 0 | D |
Explanation of responses
- F1Vesting and release of restricted stock units ("RSUs") granted to the Reporting Person on February 9, 2016 (the "February 2016 RSUs").
- F2Includes the remaining 1,155 shares underlying the February 2016 RSUs, the grant of which was previously reported in Table II of a Form 4 filed by the Reporting Person on February 19, 2016. The February 2016 RSUs vested as to 1/4th of the total number of shares on October 29, 2016, and thereafter will vest as to 1/48th of the total number of shares in equal monthly installments. Shares of the Issuer's common stock will be delivered to the Reporting Person following vesting.
- F3Vesting and release of RSUs granted to the Reporting Person on October 30, 2015 (the "October 2015 RSUs").
- F4Includes the remaining 20,230 shares underlying the October 2015 RSUs, the grant of which was previously reported in Table II of a Form 4 filed by the Reporting Person on November 3, 2015. The October 2015 RSUs vested as to 50% of the RSUs on October 30, 2016, and thereafter will vest quarterly as to 12.5% of the total RSUs in equal installments. Shares of the Issuer's common stock will be delivered to the Reporting Person following vesting.
- F5Represents the aggregate number of shares of the Issuer's common stock sold by the Reporting Person between November 1, 2016 and November 7, 2016 to cover taxes due upon the release and settlement of the RSU's. The Reporting Person did not sell or otherwise dispose of any of the shares reported on this Form 4 for any reason other than to cover required taxes.
- F6Represents the average sales price per share. The shares were sold at prices ranging from $1.50 to $2.00 per share. Full information regarding the number of shares sold at each price shall be provided upon request to the staff of the U.S. Securities and Exchange Commission, the Issuer, or a security holder of the Issuer.
- F7Each RSU represents a contingent right to receive 1 share of the Issuer's Common Stock upon settlement for no consideration.
- F8The RSUs vested as to 1/4th of the total number of shares on October 29, 2016, and thereafter will vest as to 1/48th of the total number of shares in equal monthly installments. Shares of the Issuer's common stock will be delivered to the Reporting Person following vesting.
- F950% of the RSUs vested on October 30, 2016, and thereafter will vest quarterly as to 12.5% of the total RSUs in equal installments. Shares of the Issuer's common stock will be delivered to the Reporting Person following vesting.