SEC Form 4 · accession 0000880984-16-000003
ACORN ENERGY, INC. · ACFN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jan H Loeb
Officer — President and CEO · Director
Period of report
Mar 16, 2016
Accepted (ET)
Mar 18, 2016 · 6:52 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000880984
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| warrantsF1,F4,F2,F3 | $0.13 | Mar 16, 2016 | P | 35,000 | A | — | — | common stock | 35,000 | 35,000 | I |
Explanation of responses
- F1The warrants are held by Leap Tide Capital Management, LLC. The warrants were purchased pursuant to the terms of a Consulting Agreement between Leap Tide Capital Management, LLC and Acorn Energy, Inc., dated January 8, 2016. Mr. Loeb is the sole owner and manager of Leap Tide Management, LLC, with sole voting and dispositive power over the warrants and the shares underlying the warrants. Mr. Loeb disclaims beneficial ownership of the warrants and the shares underlying the warrants except to the extent of his pecuniary interest therein.
- F2One-fourth of the warrants are immediately exercisable; an additional one-fourth become exercisable on each of 6/16/16, 9/16/16 and 12/16/16.
- F3The warrants expire upon the earlier of (a) 3/16/23 or (b) 18 months from the date Mr. Loeb ceases to be a director, officer, employee or consultant of Acorn Energy, Inc.
- F4Pursuant to the terms of the Consulting Agreement, the warrants were purchased for an aggregate nominal purchase price of $100.00.