SEC Form 4 · accession 0001144204-15-037301
ID SYSTEMS INC · IDSY
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Ned Mavrommatis
Officer — Chief Financial Officer
Period of report
Mar 27, 2015
Accepted (ET)
Jun 15, 2015 · 7:23 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000049615
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock, par value $0.01 per shareF1,F2 | Mar 27, 2015 | F | 2,717 | $6.27 | D | 126,378 | D | |
| Common Stock, par value $0.01 per shareF1,F2 | Mar 29, 2015 | F | 2,309 | $6.27 | D | 124,069 | D | |
| Common Stock, par value $0.01 per shareF3,F2 | Jun 11, 2015 | A | 30,000 | $0.00 | A | 154,069 | D | |
| Common Stock, par value $0.01 per shareF2 | Jun 11, 2015 | M | 30,488 | $3.54 | A | 184,557 | D | |
| Common Stock, par value $0.01 per shareF2 | Jun 11, 2015 | M | 44,643 | $2.84 | A | 229,200 | D | |
| Common Stock, par value $0.01 per shareF4,F2 | Jun 11, 2015 | F | 33,627 | $6.98 | D | 195,573 | D | |
| Common Stock, par value $0.01 per shareF2 | Jun 15, 2015 | S | 40,000 | $6.7251 | D | 155,573 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option (right to buy) | $3.54 | Jun 11, 2015 | M | 30,488 | D | Jun 29, 2012 | Jun 29, 2019 | Common Stock | 30,488 | 0 | D |
| Employee Stock Option (right to buy) | $2.84 | Jun 11, 2015 | M | 44,643 | D | Feb 5, 2013 | Feb 5, 2020 | Common Stock | 44,643 | 0 | D |
Explanation of responses
- F1These shares of common stock, par value $0.01 per share ("Common Stock"), of I.D. Systems, Inc. (the "Company") were withheld by the Company to satisfy tax withholding obligations upon the vesting of a restricted stock award previously made to Ned Mavrommatis (the "Reporting Person"), as permitted under the Company's 2007 Equity Compensation Plan, as amended (the "Plan").
- F2This number also includes (i) 7,500 restricted shares of Common Stock which vest on March 27, 2016, provided that the Reporting Person is employed by the Company on such date, (ii) 6,991 restricted shares of Common Stock which vest on April 4, 2016, provided that the Reporting Person is employed by the Company on such date, and (iii) 50,000 restricted shares of Common Stock which vest as to 25% of such shares on each of September 8, 2015, September 8, 2016, September 8, 2017 and September 8, 2018, provided that the Reporting Person is employed by the Company on each such date.
- F3On June 11, 2015 (the "Grant Date"), the Reporting Person was granted 30,000 restricted shares of Common Stock under the Plan, in consideration of his services as an officer of the Company. Subject to the terms and conditions of a restricted stock award agreement and the Plan, this award vests as to 25% of such shares on each of the first, second, third and fourth anniversaries of the Grant Date; provided that the Reporting Person is employed by the Company on each such date.
- F4These shares were withheld by the Company pursuant to the terms of the Plan to pay the exercise price of the options exercised, as reported herein, and to satisfy tax withholding obligations.