SEC Form 4 · accession 0001209191-16-127730
ECHELON CORP · ELON
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
C. Michael Marszewski
Officer — CFO and VP Finance
Period of report
Jun 10, 2016
Accepted (ET)
Jun 14, 2016 · 4:51 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000031347
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Jun 10, 2016 | M | 200 | — | A | 8,030 | D | |
| Common StockF1 | Jun 10, 2016 | F | 75 | $4.76 | D | 7,955 | D | |
| Common StockF1,F2 | Jun 11, 2016 | M | 87 | — | A | 8,042 | D | |
| Common StockF1 | Jun 11, 2016 | F | 32 | $4.82 | D | 8,010 | D | |
| Common StockF1,F2 | Jun 12, 2016 | M | 1,000 | — | A | 9,010 | D | |
| Common StockF1 | Jun 12, 2016 | F | 375 | $4.82 | D | 8,635 | D |
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,F3 | — | Jun 10, 2016 | M | 200 | D | — | Jun 10, 2017 | Common Stock | 200 | 200 | D |
| Performance SharesF1,F2,F4 | — | Jun 11, 2016 | M | 87 | D | — | Jun 11, 2016 | Common Stock | 87 | 0 | D |
| Performance SharesF1,F2,F5 | — | Jun 12, 2016 | M | 1,000 | D | — | Jun 12, 2017 | Common Stock | 1,000 | 1,000 | D |
Explanation of responses
- F1Such number reflects the 1-for-10 reverse stock split of the Issuer's common stock that occurred on December 7, 2015.
- F2Each performance share represents the right to receive one share of the Issuer's Common Stock.
- F3200 of the 800 shares granted to the Reporting Person under the Issuer's 1997 Stock Plan (the "Plan") were vested and released to the Reporting Person effective June 10, 2016. Such 800 share grant vests at the following rate: 1/4th of such shares on June 10, 2014 and on each one year anniversary thereafter.
- F487 of the 350 shares granted to the Reporting Person under the Plan were vested and released to the Reporting Person effective June 11, 2016. Such 350 share grant vests at the following rate: 1/4th of such shares on June 11, 2013 and on each one year anniversary thereafter.
- F51,000 of the 2,000 shares granted to the Reporting Person under the Plan were vested and released to the Reporting Person effective June 12, 2016. Such 2,000 share grant vests at the following rate: 1/2 of such shares on June 12, 2016 and on June 12, 2017.