SEC Form 4 · accession 0001140361-16-081054
USA TECHNOLOGIES INC · USAT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Stephen P Herbert
Officer — CEO · Director
Period of report
Sep 27, 2016
Accepted (ET)
Sep 29, 2016 · 4:10 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000896429
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Sep 27, 2016 | F | 6,533 | $4.82 | D | 333,933 | D | |
| Common Stock | Sep 29, 2016 | G | 14,545 | $0.00 | D | 319,388 | D | |
| Common Stock | holding | — | — | — | 62,010 | I | By Child | |
| Common Stock | holding | — | — | — | 27,440 | I | By Spouse |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Qualified Stock Option (Right to Buy) (Common Stock)F2 | $4.98 | holding | — | — | — | — | Aug 31, 2023 | Common Stock | 20,080 | 20,080 | D |
| Qualified Stock Option (Right to Buy) | $3.38 | holding | — | — | — | Aug 1, 2016 | Aug 1, 2022 | Common Stock | 29,585 | 29,585 | D |
| Qualified Stock Option (Right to Buy) | $1.80 | holding | — | — | — | Sep 1, 2015 | Sep 1, 2021 | Common Stock | 55,555 | 55,555 | D |
| Non-Qualified Stock Option (Right to Buy)F3 | $1.80 | holding | — | — | — | — | Sep 1, 2021 | Common Stock | 150,000 | 150,000 | D |
Explanation of responses
- F1Represents shares cancelled by Mr. Herbert in order to satisfy tax withholding obligations in connection with a prior stock award that became vested and taxable.
- F2The stock options vest on August 31, 2017.
- F3The stock options vested or vest as follows: 50,000 on 9/1/2015; 50,000 on 9/1/2016; and 50,000 on 9/1/2017.