SEC Form 4 · accession 0001493152-17-001842
ID SYSTEMS INC · IDSY
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael L Ehrman
Officer — Chief Technology Officer
Period of report
Feb 17, 2017
Accepted (ET)
Feb 22, 2017 · 5:36 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,F2 | Feb 17, 2017 | A | 12,500 | $0.00 | A | 330,462 | D | |
| Common Stock, par value $0.01 per shareF3,F2 | Feb 17, 2017 | A | 4,957 | $0.00 | A | 335,419 | 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 Options (right to buy)F4 | $6.00 | Feb 17, 2017 | A | 37,500 | A | — | Feb 17, 2027 | Common Stock, par value $0.01 per share | 37,500 | 37,500 | D |
Explanation of responses
- F1On February 17, 2017 (the "Grant Date"), Michael L. Ehrman (the "Reporting Person") was granted 12,500 restricted shares of common stock, par value $0.01 per share ("Common Stock"), of I.D. Systems, Inc. (the "Company") under the Company's 2007 Equity Compensation Plan (the "2007 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 2007 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.
- F2This number also includes (i) 25,000 restricted shares of Common Stock which vest as to 50% of such shares on each of September 8, 2017 and September 8, 2018, provided that the Reporting Person is employed by the Company on each such date, (ii) 22,500 restricted shares of Common Stock which vest as to 33 1/3% of such shares on each of June 11, 2017, June 11, 2018 and June 11, 2019, provided that the Reporting Person is employed by the Company on each such date, and (iii) 15,000 restricted shares of Common Stock which vest as to 25% of such shares on each of March 24, 2017, March 24, 2018, March 24, 2019 and March 24, 2020, provided that the Reporting Person is employed by the Company on each such date.
- F3On the Grant Date, the Reporting Person was granted 4,957 restricted shares of Common Stock under the Company's 2015 Equity Compensation Plan (the "2015 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 2015 Plan, this award vests as to 100% of such shares on the first anniversary of the Grant Date, provided that the Reporting Person is employed by the Company on such date.
- F4On the Grant Date, the Reporting Person was granted options to purchase 37,500 shares of Common Stock in consideration of his services as an officer 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 employed by the Company on each such date. The options were granted to the Reporting Person pursuant to and subject to the 2015 Plan.