SEC Form 4 · accession 0001493152-18-002382
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, 2018
Accepted (ET)
Feb 20, 2018 · 7:26 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, 2018 | F | 2,605 | $7.87 | D | 322,619 | D | |
| Common Stock, par value $0.01 per shareF3,F2 | Feb 17, 2018 | F | 1,643 | $7.87 | D | 320,976 | D | |
| Common Stock, par value $0.01 per shareF2 | Feb 20, 2018 | M | 16,000 | $7.41 | A | 336,976 | D | |
| Common Stock, par value $0.01 per shareF4,F2 | Feb 20, 2018 | F | 15,262 | $7.87 | D | 321,714 | 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)F5 | $7.41 | Feb 20, 2018 | M | 16,000 | D | — | Feb 27, 2018 | Common Stock | 16,000 | 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 Michael L. Ehrman (the "Reporting Person"), as permitted under the Company's 2015 Equity Compensation Plan.
- F2This number also includes (i) 12,500 restricted shares of Common Stock which vest as to 100% of such shares on September 8, 2018, provided that the Reporting Person is employed by the Company on such date, (ii) 15,000 restricted shares of Common Stock which vest as to 50% of such shares on each of June 11, 2018 and June 11, 2019, provided that the Reporting Person is employed by the Company on each such date, (iii) 11,250 restricted shares of Common Stock which vest as to 33 1/3% of such shares on each of March 24, 2018, March 24, 2019 and March 24, 2020, provided that the Reporting Person is employed by the Company on each such date, and (iv) 9,375 restricted shares of Common Stock which vest as to 33 1/3% of such shares on each of February 17, 2019, February 17, 2020 and February 17, 2021, provided that the Reporting Person is employed by the Company on each such date.
- F3These shares of Common Stock were withheld by the Company to satisfy tax withholding obligations upon the vesting of a restricted stock award previously made to the Reporting Person, as permitted under the Company's 2007 Equity Compensation Plan.
- F4These shares of Common Stock were withheld by the Company to pay the exercise price of the options exercised, as reported herein, and to satisfy tax withholding obligations.
- F5These options vested in five equal annual installments beginning on February 27, 2009.