SEC Form 4 · accession 0001493152-18-009951
ID SYSTEMS INC · IDSY
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Charles Frumberg
Director
Period of report
Jul 10, 2018
Accepted (ET)
Jul 12, 2018 · 5:13 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 | Jul 10, 2018 | A | 19,067 | $0.00 | A | 19,067 | D | |
| Common Stock, par value $0.01 per shareF2 | holding | — | — | — | 1,709,426 | I | See footnote |
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 | $6.08 | Jul 10, 2018 | A | 45,000 | A | — | Jul 10, 2028 | Common Stock, par value $0.01 per share | 45,000 | 45,000 | D |
Explanation of responses
- F1On July 10, 2018 ("Grant Date"), Charles Frumberg (the "Reporting Person") was granted 19,067 restricted shares of common stock, par value $0.01 per share ("Common Stock"), of I.D. Systems, Inc. (the "Company") under the Company's 2018 Incentive Plan (the "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 Plan, this award vests as to 100% of such shares on July 10, 2019, provided that the Reporting Person is serving as a director of the Company on such date.
- F2These securities are directly held by (i) Emancipation Capital Master, Ltd. ("Emancipation Master") and (ii) Emancipation Capital SPV IV LLC ("Emancipation SPV IV"). Emancipation Management LLC ("Emancipation Management") serves as the investment manager of Emancipation Master and Emancipation SPV IV. Emancipation Capital LLC ("Emancipation Capital") is the managing member of Emancipation SPV IV. The Reporting Person is the managing member of Emancipation Management and Emancipation Capital. By virtue of the foregoing relationships, the Reporting Person may be deemed to indirectly beneficially own the securities directly held by Emancipation Master and Emancipation SPV IV. 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 45,000 shares of Common Stock under the Plan in consideration of his services as a director of the Company. Subject to the terms and conditions of a stock option agreement and the Plan, 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.