SEC Form 4 · accession 0001209191-18-020116
ECHELON CORP · ELON
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Ronald Sege
Officer — Chairman, CEO & President · Director
Period of report
Mar 15, 2018
Accepted (ET)
Mar 16, 2018 · 4:01 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 | Mar 15, 2018 | M | 14,822 | — | A | 14,822 | D | |
| Common Stock | Mar 15, 2018 | F | 5,668 | $4.67 | D | 9,154 | D | |
| Common StockF2 | holding | — | — | — | 41,638 | I | See Footnote |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance SharesF1,F3 | — | Mar 15, 2018 | M | 14,822 | D | — | Mar 15, 2018 | Common Stock | 14,822 | 0 | D |
Explanation of responses
- F1Each performance share represents the right to receive one share of the Issuer's Common Stock.
- F2These shares are held by the Ronald A and Eugenia Sege TR U/T/A DTD 10/19/2010, of which 20,819 shares will be held in constructive trust for Eugenia Sege pursuant to the terms of a divorce decree dated December 27, 2017.
- F314,822 of the 79,052 shares granted to the Reporting Person under the Issuer's 2016 Equity Incentive Plan were vested and released to the Reporting Person effective March 15, 2018. Such 79,052 share grant was subject to 100% vesting on March 15, 2018, subject to the satisfaction of certain performance criteria. Certain performance criteria were not met, therefore, the remaining 64,230 shares subject to the grant were cancelled effective March 15, 2018.