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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Employee Stock Options (right to buy) | $ 5.24 | 07/21/2014 | A | 100,000 | (2) | 07/21/2024 | Common Stock, par value $0.01 per share | 100,000 | $ 0 (2) | 100,000 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Ellis Norman C/O I.D. SYSTEMS INC., 123 TICE BLVD. WOODCLIFF LAKE, NJ 07677 |
Chief Operating Officer |
/s/ Norman Ellis | 07/22/2014 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | On July 21, 2014 (the "Grant Date"), Norman Ellis (the "Reporting Person") was granted 50,000 restricted shares of common stock, par value $0.01 per share ("Common Stock"), of I.D. Systems, Inc. (the "Company") under the Company's 2007 Equity Compensation Plan, as amended (the "Plan"), in consideration of his services as an officer of the Company. Subject to the terms and conditions of a restricted stock award agreement and the Plan, this award vests on the third anniversary of the Grant Date, provided that the Reporting Person is employed by the Company on such date. |
(2) | On the Grant Date, the Reporting Person was granted options to purchase up to 100,000 shares of Common Stock in consideration of his services as an officer of the Company. These options vest in equal increments over a three-year period commencing on the Grant Date, such that one-third of the options will vest on each of the first, second, and third anniversaries of the Grant Date, provided that the Reporting Person is employed by the Company on each such anniversary. The options were granted pursuant and subject to the terms and conditions of an option agreement between the Company and the Reporting Person. |