SEC Form 4 · accession 0001209191-17-031403
ECHELON CORP · ELON
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Erich Schuett
Officer — SVP, Worldwide Sales
Period of report
May 10, 2017
Accepted (ET)
May 10, 2017 · 6:40 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 | May 10, 2017 | M | 5,000 | — | A | 5,000 | D | |
| Common Stock | May 10, 2017 | F | 1,802 | $6.36 | D | 3,198 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitF1,F2 | — | May 10, 2017 | M | 5,000 | D | — | May 10, 2019 | Common Stock | 5,000 | 10,000 | D |
Explanation of responses
- F1Each restricted stock unit represents the right to receive one share of the Issuer's Common Stock.
- F25,000 of the 15,000 shares granted to the Reporting Person under the Issuer's 2016 Inducement Equity Incentive Plan were vested and released to the Reporting Person effective May 10, 2017. Such 15,000 share grant vests at the following rate: 1/3rd of such shares on May 10, 2017 and on each one year anniversary thereafter.