SEC Form 4 · accession 0001144204-15-012345
Envela Corp · ELA
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
James D Clem
Officer — CEO, Chairman of the Board · Director
Period of report
Feb 18, 2015
Accepted (ET)
Feb 26, 2015 · 6:59 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000701719
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Feb 18, 2015 | M | 6,250 | — | A | 135,425 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF3,F1,F2 | — | Feb 18, 2015 | M | 6,250 | D | Jan 20, 2015 | — | Common Stock | 6,250 | 12,500 | D |
Explanation of responses
- F1Each vested Restricted Stock Unit ("RSU") was converted into one share of common stock, par value $0.01, of the Issuer (the "Common Stock") without additional consideration (other than such conversion and reduction in the number of RSUs held) pursuant to the terms of the Restricted Stock Unit Award Agreement, dated January 20, 2014, between the Issuer and the Reporting Person.
- F2Upon termination of service of the Reporting Person to the Issuer, other than by reason of death or disability, any RSUs held by the Reporting Person that have not vested will be forfeited and the award of such RSUs shall terminate.
- F3The Issuer elected to award the RSUs as consideration for services rendered to the Issuer (the "Consideration") and to encourage the continuation of such services in connection with the Reporting Person's employment with the Issuer. The value of the Consideration on the date of grant was $13,250. No additional consideration was received by the Issuer as payment for the RSUs.