SEC Form 4 · accession 0001209191-16-141257
ECHELON CORP · ELON
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Sohrab Modi
Officer — VP and CTO
Period of report
Sep 10, 2016
Accepted (ET)
Sep 13, 2016 · 6:00 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 | Sep 10, 2016 | M | 850 | — | A | 2,013 | D | |
| Common Stock | Sep 10, 2016 | F | 319 | $5.25 | D | 1,694 | 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 | — | Sep 10, 2016 | M | 850 | D | — | Sep 10, 2018 | Common Stock | 850 | 1,700 | D |
Explanation of responses
- F1Each performance share represents the right to receive one share of the Issuer's Common Stock.
- F2850 of the 3,400 shares granted to the Reporting Person under the Issuer's 1997 Stock Plan were vested and released to the Reporting Person effective September 10, 2016. Such 3,400 share grant vests at the following rate: 1/4th of such shares on September 10, 2015 and on each one year anniversary thereafter.