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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 option (Right to buy) | $ 8.52 | 04/22/2005 | A | 25,000 | (1) | 02/22/2012 | Common Stock | 25,000 | (1) | 25,000 | D | ||||
Employee stock option (Right to buy) | $ 8.52 | 04/22/2005 | A | 60,000 | (2) | 03/17/2009 | Common Stock | 60,000 | (2) | 60,000 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
HARRIS RUSSELL 550 MERIDIAN AVE SAN JOSE, CA 95126 |
Senior VP of Operations |
/s/ Oliver R. Stanfield, attorney in fact for Russell Harris | 04/26/2005 | |
**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 April 22, 2005, an option to purchase 25,000 shares was issued to the Reporting Person under the Echelon Corporation 1997 Stock Plan (the "1997 Plan") pursuant to the Issuer's option exchange program. The option shall vest and become exercisable as to all 25,000 shares on April 22, 2006, subject to the Reporting Person's continued service to the Issuer on such vesting date. Such option was issued in replacement of 50,000 option shares cancelled on October 21, 2004. As provided by the terms of the option exchange program, the per share exercise price of $8.52 is equal to 115% of the closing price of the Issuer's common stock on October 21, 2004. |
(2) | On April 22, 2005, an option to purchase 60,000 shares was issued to the Reporting Person under the 1997 Plan pursuant to the Issuer's option exchange program. The option shall vest and become exercisable as to 31,250 shares on April 22, 2006 and as to 1,250 shares on each one month anniversary of April 22, 2006, until all of such shares are vested and exercisable, subject to the Reporting Person's continued service to the Issuer on each relevant vesting date. Such option was issued in replacement of 60,000 option shares cancelled on October 21, 2004. As provided by the terms of the option exchange program, the per share exercise price of $8.52 is equal to 115% of the closing price of the Issuer's common stock on October 21, 2004. |