FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). |
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
ID SYSTEMS INC [ IDSY ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 03/29/2012 | ||||||||||||||||||||||||||
4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
Code | V | Amount | (A) or (D) | Price | ||||||
Common Stock, par value $0.01 per share | 03/29/2012 | A | 6,374(1) | A | $0(1) | 72,854(2)(3) | D |
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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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 Securities Underlying Derivative Security (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: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Employee Stock Options (right to buy) | $5.93 | 03/29/2012 | A | 40,541 | 03/30/2015 | 03/30/2022 | Common Stock, par value $0.01 per share | 40,541 | $0(4) | 40,541 | D |
Explanation of Responses: |
1. On March 29, 2012, Ned Mavrommatis (the "Reporting Person") was granted 6,374 restricted shares of common stock, par value $0.01 per share ("Common Stock"), of I.D. Systems, Inc. (the "Company") in consideration of his services as an officer of the Company. This award vests as to 100% of such shares on the third anniversary of the date of grant, subject to the terms and conditions of a restricted stock award agreement and the Company's 2007 Equity Compensation Plan (the "Plan"). |
2. This number also includes (i) 17,655 restricted shares of Common Stock which vest on June 29, 2012, provided that the Reporting Person is employed by the Company on such date, (ii) 21,930 restricted shares of Common Stock which vest on February 5, 2013, provided that the Reporting Person is employed by the Company on such date, and (iii) 8,020 restricted shares of Common Stock which vest on March 30, 2014, provided that the Reporting Person is employed by the Company on such date. |
3. In reports previously filed by the Reporting Person under Section 16 of the Securities Exchange Act of 1934, as amended, with respect to the Company's Common Stock, this number also had included the number of stock options held by the Reporting Person that were currently exercisable or which would become exercisable within 60 days of the date of the transaction requiring such report. Commencing with this report, the number of stock options held by the Reporting Person has now been properly excluded from the total number of non-derivative securities reported in Table I. |
4. These employee stock options were granted to the Reporting Person in consideration of his services as an officer of the Company. The options were granted to the Reporting Person pursuant and subject to the Plan. |
By: /s/ Ned Mavrommatis | 04/02/2012 | |
** Signature of Reporting Person | Date | |
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
* 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). | ||
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
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 Number. |