SEC Form 4 · accession 0001209191-18-051310
ECHELON CORP · ELON
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Robert J Finocchio
Director
Period of report
Sep 14, 2018
Accepted (ET)
Sep 17, 2018 · 8:23 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,F2 | Sep 14, 2018 | D | 16,500 | — | D | 0 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Director stock option (Right to buy)F3 | $4.51 | Sep 14, 2018 | D | 5,000 | D | — | May 17, 2026 | Common Stock | 5,000 | 0 | D |
| Director stock option (Right to buy)F3 | $7.18 | Sep 14, 2018 | D | 5,000 | D | — | May 23, 2027 | Common Stock | 5,000 | 0 | D |
| Director stock option (Right to buy)F3 | $4.16 | Sep 14, 2018 | D | 5,000 | D | — | May 17, 2028 | Common Stock | 5,000 | 0 | D |
Explanation of responses
- F1Disposed of 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 (the "Merger Agreement"), in exchange for a cash payment of $8.50 per share without interest thereon (the "Merger Consideration").
- F2The shares are held by the Robert J. and Susan H. Finocchio Family Trust dated January 9, 1990, for which the Reporting Person serves as a trustee.
- F3The option was cancelled pursuant to the Merger Agreement, in exchange for a cash payment equal to (x) the difference between the Merger Consideration and the per share exercise price of the option, multiplied by (y) the number of disposed option shares.