SEC Form 4 · accession 0001209191-18-051316

ECHELON CORP · ELON

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Officer — SVP and CTO

Period of report

Sep 14, 2018

Accepted (ET)

Sep 17, 2018 · 8:29 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 Stock^F1	Sep 14, 2018	D	11,621	—	D	0	D

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	D/I
Performance Shares^F2,F3	—	Sep 14, 2018	D	10,500	D	—	Sep 28, 2018	Common Stock	10,500	D
Performance Shares^F2,F3	—	Sep 14, 2018	D	13,182	D	—	Mar 15, 2019	Common Stock	13,182	D
Restricted Stock Units^F4,F5	—	Sep 14, 2018	D	30,000	D	—	Sep 20, 2019	Common Stock	30,000	D
Employee Stock Option (Right to buy)^F6	$5.22	Sep 14, 2018	D	21,000	D	—	Sep 28, 2026	Common Stock	21,000	D

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").
F2Each performance share represents the right to receive one share of the Issuer's Common Stock.
F3The performance shares were cancelled pursuant to the Merger Agreement, in exchange for a cash payment equal to the Merger Consideration multiplied by the number of disposed performance shares.
F4Each restricted stock unit ("RSU") represents the right to receive one share of the Issuer's Common Stock.
F5The RSUs were cancelled pursuant to the Merger Agreement, in exchange for a cash payment equal to the Merger Consideration multiplied by the number of disposed RSUs.
F6The 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.