SEC Form 4 · accession 0001209191-18-051298
ECHELON CORP · ELON
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Andrew M Lovit
Officer — SVP, Worldwide Sales
Period of report
Sep 14, 2018
Accepted (ET)
Sep 17, 2018 · 8:13 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000031347
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF1,F2 | — | Sep 14, 2018 | D | 60,000 | D | — | Oct 10, 2019 | Common Stock | 60,000 | 0 | D |
Explanation of responses
- F1Each restricted stock unit ("RSU") represents the right to receive one share of the Issuer's Common Stock.
- F2The RSUs were cancelled pursuant to that certain Agreement and Plan of Merger between the Issuer, Adesto Technologies Corporation and Circuit Acquisition Corporation, dated as of June 28, 2018, in exchange for a cash payment of $8.50 per share, without interest thereon, multiplied by the number of disposed RSUs.