SEC Form 4
Washington, D.C. 20549


Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
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*
Scherer Joshua S

(Last) (First) (Middle)


(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Arcimoto Inc [ FUV ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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 07/12/2019(1) J(1) 23,529(1) D (1) 0(1) D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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
2019 Short-term Notes(1) $4.25 07/12/2019 J 23,529(1)(2)(3) 09/12/2019 (1) Common Stock 23,529(1)(2)(3) $4.25 23,529(1)(2)(3) D
2019 Short-term Notes $4.25 08/14/2019 J 25,436(1) (1) (1) Common Stock 25,436(1) $4.25 0 D
Convertible Promissory Notes $4.25 08/14/2019 J 25,436 (1) (1) Common Stock 25,436(1) $4.25 25,436(2)(3) D
Explanation of Responses:
1. On July 16, 2019, the reporting person mistakenly filed a Form 4 that reported what was a derivative transaction as a non-derivative acquisition of 23,529 shares of common stock. The derivative transaction should have been reported in Table II rather than Table I. This Form 4 is intended, in part, to correct that reporting error.
2. The principal amount of the 2019 Short-term Notes, together with interest accrued thereon was payable, at the option of the holder, in (a) cash, (b) Issuer's common stock (valued at a price of $4.25 per share) or (c) in the event Issuer issued convertible promissory notes to third parties before the original maturity date (two months after the issuance), in a convertible promissory note on the same terms as purchased by such third parties.
3. On August 14, 2019, the principal ($100,000, representing 23,529 shares) and accrued interest ($8102.83, representing 1,907 shares) on the 2019 Short-term Notes were exchanged for $108,102.83 (representing 25,436 shares) in principal amount of convertible promissory notes. The principal amount of the convertible promissory notes is due and payable on August 14, 2020 in (a) cash or (b) Issuer's common stock at a price of $4.25 per share, at the election of the holder of the convertible promissory notes. Interest on the convertible promissory notes accrues at an annual rate of 10%, compounded monthly.
/s/ W. David Mannheim, by Power of Attorney 08/16/2019
** 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.