SEC Form 4 · accession 0001181431-15-005756
ECHELON CORP · ELON
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
C. Michael Marszewski
Officer — VP & Principal Acctg Officer
Period of report
Apr 10, 2015
Accepted (ET)
Apr 13, 2015 · 11:47 am EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000031347
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance SharesF1,F2 | — | Apr 10, 2015 | A | 10,000 | A | — | Apr 10, 2018 | Common Stock | 10,000 | 10,000 | D |
| Employee Stock Option (Right to buy)F3 | $0.96 | Apr 10, 2015 | A | 40,000 | A | — | Apr 10, 2025 | Common Stock | 40,000 | 40,000 | D |
Explanation of responses
- F1Each performance share represents the right to receive one share of the Issuer's Common Stock.
- F2Pursuant to the Issuer's 1997 Stock Plan (the "Plan") the Reporting Person was granted 10,000 performance shares. 1/3rd of such shares will vest on April 10, 2016 and on each one year anniversary thereafter.
- F3Pursuant to the Plan the Reporting Person was granted an option to buy 40,000 shares of Common Stock. 1/3rd of such shares will vest on April 10, 2016 and 1/36th of such shares granted will vest monthly thereafter. This option will be fully vested on April 10, 2018.