SEC Form 4 · accession 0001493152-17-001841
ID SYSTEMS INC · IDSY
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael Brodsky
Director
Period of report
Feb 17, 2017
Accepted (ET)
Feb 22, 2017 · 5:32 pm EST
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 | Feb 17, 2017 | A | 5,000 | $0.00 | A | 61,357 | D | |
| Common Stock, par value $0.01 per shareF2 | holding | — | — | — | 76,000 | I | By Vajra Fund I, L.P. |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock options (right to buy)F3 | $6.00 | Feb 17, 2017 | A | 50,000 | A | — | Feb 17, 2027 | Common Stock, par value $0.01 per share | 50,000 | 50,000 | D |
Explanation of responses
- F1On February 17, 2017 (the "Grant Date"), Michael Brodsky (the "Reporting Person") was granted 5,000 restricted shares of common stock, par value $0.01 per share ("Common Stock"), of I.D. Systems, Inc. (the "Company") under the Company's 2015 Non-Employee Director Equity Compensation Plan, as amended (the "Director Plan"), in consideration of his services as a director of the Company. Subject to the terms and conditions of a restricted stock award agreement and the Director Plan, this award vests as to 100% of such shares on the first anniversary of the Grant Date, provided that the Reporting Person is serving as a director of the Company on such date.
- F2The Reporting Person, as the general partner of Vajra Fund I, L.P. ("Vajra Fund"), may be be deemed to beneficially own the shares of Common Stock held by Vajra Fund. The Reporting Person disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.
- F3On the Grant Date, the Reporting Person was granted options to purchase 50,000 shares of Common Stock under the Company's 2015 Equity Compensation Plan in consideration of his services as the Chairman of the Board of the Company. These options vest in equal increments over a four-year period commencing on the Grant Date, such that 25% of the options will vest on the first, second, third and fourth anniversaries of the Grant Date, provided that the Reporting Person is serving as a director of the Company on each such date.