SEC Form 4 · accession 0001144204-15-046922

INDUSTRIAL SERVICES OF AMERICA INC · IDSA

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

A later amendment supersedes this filing — read the amendment. The figures below are kept as originally reported (version chain, not an overwrite).

Reporting owner

Officer — President · Director · 10% Owner

Period of report

Aug 5, 2015

Accepted (ET)

Aug 6, 2015 · 4:20 pm EDT

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0000004187

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I	Nature of ownership
Common Stock^F1,F2	Aug 5, 2015	P	50,670	$188,999.10	A	50,670	I	By Algar, Inc.

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Option (right to buy)	$5.40	holding	—	—	—	Oct 15, 2015	Oct 15, 2019	Common Stock	30,000	30,000	D
Option (right to buy)^F2,F3	$5.00	holding	—	—	—	Dec 1, 2013	Dec 1, 2016	Common Stock	1,500,000	1,500,000	I

F1The Issuer entered into a Stock Purchase Agreement with Algar, Inc. on August 5, 2015. Under the Stock Purchase Agreement, the Issuer issued 50,670 shares of its common stock to Algar, Inc. in exchange for a reduction of $188,999.10 of the Issuer's accrued but unpaid bonus compensation due to Algar, Inc.
F2The Reporting Person is Chief Executive Officer of and the controlling shareholder of Algar, Inc.
F3On December 2, 2013, Algar, Inc. was issued an option to purchase 1,500,000 shares of Issuer common stock which becomes exercisable in four equal tranches. The first tranche was immediately exercisable; subject to certain additional requirements, generally, the second tranche becomes exercisable when the Issuer's stock consistently trades above $6.00 or the Issuer's revenues increase by $30 million following an acqusition, the third tranche becomes exercisable when the Issuer's stock consistently trades above $8.00 or the Issuer's revenues increase by $90 million following an acqusition, and the fourth tranche becomes exercisable when the Issuer's stock consistently trades above $9.00 or the Issuer's revenues increase by $120 million following an acqusition.