SEC Form 4 · accession 0001209191-17-054416
ECHELON CORP · ELON
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Sohrab Modi
Officer — SVP and CTO
Period of report
Sep 28, 2017
Accepted (ET)
Sep 29, 2017 · 4:31 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 28, 2017 | M | 10,500 | — | A | 13,359 | D | |
| Common Stock | Sep 28, 2017 | F | 3,945 | $4.68 | D | 9,414 | 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 28, 2017 | M | 10,500 | D | — | Sep 28, 2018 | Common Stock | 10,500 | 10,500 | D |
Explanation of responses
- F1Each performance share represents the right to receive one share of the Issuer's Common Stock.
- F210,500 of the 21,000 shares granted to the Reporting Person under the Issuer's 1997 Stock Plan were vested and released to the Reporting Person effective September 28, 2017. Such 21,000 share grant vests at the following rate: 10,500 shares on September 28, 2017 and 10,500 shares on September 28, 2018.