SEC Form 4 · accession 0001629311-16-000003
INDUSTRIAL SERVICES OF AMERICA INC · IDSA
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Todd L. Phillips
Officer — Chief Financial Officer
Period of report
Jun 15, 2016
Accepted (ET)
Jun 16, 2016 · 5:29 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 | holding | — | — | — | 27,545 | D |
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 | — | Jun 15, 2016 | A | 90,000 | A | — | — | Common Stock | 90,000 | 90,000 | D |
| Stock Option (Right to Buy)F3 | $5.97 | Jun 15, 2016 | D | 150,000 | D | — | Dec 31, 2019 | Common Stock | 150,000 | 0 | D |
| Stock Option (Rigth to Buy)F3 | $5.71 | Jun 15, 2016 | D | 20,000 | D | — | Jan 2, 2020 | Common Stock | 20,000 | 0 | D |
Explanation of responses
- F1Each restricted stock unit ("RSU") represents a contingent right to receive one share of the issuer's common stock.
- F2The RSUs vest as follows if the reporting person remains employed by the issuer through each of the following dates: (i) on 7/1/2016; 45,000 RSUs vest; (ii) on 12/31/2016, 11,250 RSUs vest; (iii) on 6/30/2017, 11,250 RSUs vest; (iv) on 12/31/2017, 11,250 RSUs vest; (iv) on 6/30/2018, 11,250 RSUs vest.
- F3On 6/15/2016, the issuer canceled pursuant to a one-time option exchange approved by the issuer's shareholders, an option for 150,000 shares of the issuer's common stock granted to the reporting person on 12/31/2014 and an option for 20,000 shares of the issuer's common stock granted to the reporting person on 1/2/2015. In exchange, the reporting person received 90,000 RSUs.