SEC Form 4 · accession 0001144204-16-083560
Envela Corp · ELA
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Nabil J. Lopez
Officer — CFO
Period of report
Jan 23, 2016
Accepted (ET)
Feb 22, 2016 · 10:46 am 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 | Jan 23, 2016 | M | 500 | — | A | 1,500 | 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 | — | Jan 23, 2016 | M | 500 | D | Jan 23, 2016 | — | Common Stock | 1,500 | 1,500 | 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 23, 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 that have not vested will be forfeited and the award of such units 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 $275. No additional consideration was received by the Issuer as payment for the RSUs.