HON ROBERT W 4
4 · ECHELON CORP · Filed May 14, 2012
Insider Transaction Report
Form 4
ECHELON CORPELON
HON ROBERT W
Senior VP Engineering
Transactions
- Exercise/Conversion
Common Stock
2012-05-10+17,500→ 22,249 total - Tax Payment
Common Stock
2012-05-10$3.88/sh−6,419$24,906→ 15,830 total - Exercise/Conversion
Performance Shares
2012-05-10−17,500→ 17,500 totalExp: 2015-04-01→ Common Stock (17,500 underlying)
Footnotes (2)
- [F1]Each performance share represents the right to receive one share of the Issuer's Common Stock.
- [F2]17,500 of the 35,000 shares granted to the Reporting Person under the Issuer's 1997 Stock Plan were vested and released to the Reporting Person effective May 10, 2012. Such 35,000 shares vest at the following rate: 17,500 shares on April 11, 2012 and 17,500 shares on April 11, 2013 assuming in each case that the satisfaction of certain performance criteria has been met. It was determined that May 10, 2012 was the date on which vesting of 50% of the original 35,000 share grant was deemed to have occurred pursuant to the satisfaction of certain performance criteria.