SEC Form 4 · accession 0001209191-15-053628
ECHELON CORP · ELON
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Ronald Sege
Officer — Chairman, CEO & President · Director
Period of report
Jun 12, 2015
Accepted (ET)
Jun 16, 2015 · 1:11 pm 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 | — | Jun 12, 2015 | A | 60,000 | A | — | Jun 12, 2017 | Common Stock | 60,000 | 60,000 | D |
| Employee Stock Option (Right to buy)F3 | $0.911 | Jun 12, 2015 | A | 240,000 | A | — | Jun 12, 2025 | Common Stock | 240,000 | 240,000 | 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 60,000 performance shares. 30,000 shares will vest on June 12, 2016 and on June 12, 2017.
- F3Pursuant to the Plan the Reporting Person was granted an option to buy 240,000 shares of Common Stock. 1/2 of such shares will vest on June 12, 2016 and 1/24th of such shares will vest on each one month anniversary thereafter.