SEC Form 4 · accession 0001140361-17-033567
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
Aug 16, 2017
Accepted (ET)
Aug 29, 2017 · 5:32 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 | Jun 30, 2017 | G | 10,000 | $0.00 | D | 311,388 | D | |
| Common Stock | Aug 23, 2017 | A | 116,445 | $0.00 | A | 417,833 | D | |
| Common StockF1 | holding | — | — | — | 301,388 | D | ||
| Common StockF1 | holding | — | — | — | 72,010 | 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) | $5.25 | Aug 16, 2017 | A | 19,047 | A | Aug 16, 2018 | Aug 16, 2024 | Common Stock | 19,047 | 19,047 | D |
| Qualified Stock Option (Right to Buy) | $4.98 | holding | — | — | — | Aug 31, 2017 | 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
- F1Adjusted to reflect 10,000 shares gifted by Mr. Herbert to his son that effected only a change in the form of Mr. Herbert's beneficial ownership without changing his pecuniary interest in such securities.
- F2Represents shares awarded to Mr. Herbert under the Company's Fiscal Year 2017 Long-Term Incentive Performance Share Plan, which vest as follows: one-third upon issuance, one-third on June 30, 2018, and one-third on June 30, 2019.
- 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.