SEC Form 4 · accession 0001175207-16-000001
INDUSTRIAL SERVICES OF AMERICA INC · IDSA
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Sean Garber
Officer — President · Director · 10% Owner
Period of report
Sep 30, 2016
Accepted (ET)
Oct 4, 2016 · 2:18 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000004187
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Option (right to buy)F1 | $5.00 | Sep 30, 2016 | J | 1,500,000 | D | — | — | Common Stock | 1,500,000 | 0 | I |
Explanation of responses
- F1In connection with the termination of a Management Services Agreement (the "MSA") between the issuer and Algar, Inc., the parties agreed to terminate 1,500,000 out-of-the-money stock options that the issuer granted to Algar, Inc. at the time of entry into the MSA. The reporting person is Chief Executive Officer of and the controlling shareholder of Algar, Inc.