SEC Form 4 · accession 0001209191-18-020139
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
Mar 15, 2018
Accepted (ET)
Mar 16, 2018 · 4:07 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 | 3,458 | — | A | 19,596 | D | |
| Common Stock | Mar 15, 2018 | F | 1,413 | $4.67 | D | 18,183 | 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 | — | Mar 15, 2018 | M | 3,458 | D | — | Mar 15, 2018 | Common Stock | 3,458 | 0 | D |
Explanation of responses
- F1Each performance share represents the right to receive one share of the Issuer's Common Stock.
- F23,458 of the 13,834 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 13,834 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 10,376 shares subject to the grant were cancelled effective March 15, 2018.