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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 | ||||||||
Stock options (right to buy) | $ 6 | 02/17/2017 | A | 50,000 | (3) | 02/17/2027 | Common Stock, par value $0.01 per share | 50,000 | $ 0 (3) | 50,000 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Brodsky Michael C/O I.D. SYSTEMS, INC. 123 TICE BOULEVARD WOODCLIFF LAKE, NJ 07677 |
X |
/s/ Ned Mavrommatis, as Attorney-In-Fact for Michael Brodsky | 02/22/2017 | |
**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 February 17, 2017 (the "Grant Date"), Michael Brodsky (the "Reporting Person") was granted 5,000 restricted shares of common stock, par value $0.01 per share ("Common Stock"), of I.D. Systems, Inc. (the "Company") under the Company's 2015 Non-Employee Director Equity Compensation Plan, as amended (the "Director Plan"), in consideration of his services as a director of the Company. Subject to the terms and conditions of a restricted stock award agreement and the Director Plan, this award vests as to 100% of such shares on the first anniversary of the Grant Date, provided that the Reporting Person is serving as a director of the Company on such date. |
(2) | The Reporting Person, as the general partner of Vajra Fund I, L.P. ("Vajra Fund"), may be be deemed to beneficially own the shares of Common Stock held by Vajra Fund. The Reporting Person disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein. |
(3) | On the Grant Date, the Reporting Person was granted options to purchase 50,000 shares of Common Stock under the Company's 2015 Equity Compensation Plan in consideration of his services as the Chairman of the Board of the Company. These options vest in equal increments over a four-year period commencing on the Grant Date, such that 25% of the options will vest on the first, second, third and fourth anniversaries of the Grant Date, provided that the Reporting Person is serving as a director of the Company on each such date. |