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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 Options (right to buy) | $ 5.71 | 04/04/2013 | A | 40,842 | (3) | 04/05/2023 | Common Stock, par value $0.01 per share | 40,842 | $ 0 (3) | 40,842 | D | ||||
| Reporting Owner Name / Address | Relationships | |||
| Director | 10% Owner | Officer | Other | |
| EHRMAN KENNETH S C/O I.D. SYSTEMS, INC. 123 TICE BOULEVARD WOODCLIFF LAKE, NJ 07677 |
X | President | ||
| /s/ Kenneth S. Ehrman | 04/08/2013 | |
| **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 4, 2013 (the "Grant Date"), Kenneth S. Ehrman (the "Reporting Person") was granted 6,991 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 Grant Date, subject to the terms and conditions of a restricted stock award agreement and the Company's 2007 Equity Compensation Plan, as amended (the "Plan"). |
| (2) | This number also includes (i) 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, (ii) 6,374 restricted shares of Common Stock which vest on March 29, 2015, provided that the Reporting Person is employed by the Company on such date, (iii) 49,000 shares of Common Stock held by the IRA account of the Reporting Person's spouse, and (iv) 16,500 shares of Common Stock held by the 401(k) account of the Reporting Person. |
| (3) | On the Grant Date, the Reporting Person was granted options to purchase 40,842 shares of Common Stock in consideration of his services as an officer 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, in each case, provided that the Reporting Person is employed by the Company on such date. The options were granted to the Reporting Person pursuant and subject to the Plan. |