SEC Form 4 · accession 0001140361-18-016889
ADESTO TECHNOLOGIES Corp · IOTS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Ron Shelton
Officer — Chief Financial Officer
Period of report
Apr 1, 2018
Accepted (ET)
Apr 3, 2018 · 8:56 pm EDT
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 Stock | Apr 1, 2018 | F | 1,276 | $7.40 | D | 190,386 | D | |
| Common StockF3 | Apr 1, 2018 | A | 37,500 | $0.00 | A | 227,886 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Exempt transaction pursuant to Section 16b-3(e) - payment of exercise price or tax liability by delivering or withholding securities incident to the receipt, exercise or vesting of a security issued in accordance with Rule 16b-3. All of the shares reported as disposed of in this Form 4 were relinquished by the Reporting Person and cancelled by the Issuer in exchange for the Issuer's agreement to pay federal and state tax withholding obligations of the Reporting Person resulting from the vesting of restricted stock units. 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.
- F2Vesting of performance-based RSUs ("PSUs") earned by the Reporting Person on April 1, 2018 as a result of the Reporting Person having met certain performance criteria.
- F3Each PSU represents a right to receive one share of the Issuer's common stock. 7,500 shares vested on April 1, 2018 upon the achievement of the performance metrics and the remainder will vest 1/8th each quarter beginning on June 30, 2018 and at the end of each of the next seven quarters thereafter until all of the earned shares have completed vesting subject to continued service through each vesting date. Shares of the Issuer's common stock will be delivered to the Reporting Person following vesting.