SEC Form 4 · accession 0001209191-16-118858
ECHELON CORP · ELON
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Erich Schuett
Officer — VP, Worldwide Sales
Period of report
May 10, 2016
Accepted (ET)
May 10, 2016 · 5:05 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF1,F2 | — | May 10, 2016 | A | 15,000 | A | — | May 10, 2019 | Common Stock | 15,000 | 15,000 | D |
| Employee Stock Option (Right to buy)F3 | $4.72 | May 10, 2016 | A | 60,000 | A | — | May 10, 2026 | Common Stock | 60,000 | 60,000 | D |
Explanation of responses
- F1Each restricted stock unit represents the right to receive one share of the Issuer's Common Stock.
- F2Pursuant to the Issuer's 2016 Inducement Equity Incentive Plan (the "Inducement Plan") the Reporting Person was granted 15,000 restricted stock units. 5,000 shares will vest on May 10, 2017 and on each one year anniversary thereafter.
- F3Pursuant to the Inducement Plan the Reporting Person was granted an option to buy 60,000 shares of Common Stock. 1/3 of such shares will vest on May 10, 2017 and on each one year anniversary thereafter.