FORM 3
        
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Kelly Dennis Richard

2. Date of Event Requiring Statement (MM/DD/YYYY)
4/27/2018 

3. Issuer Name and Ticker or Trading Symbol

GlyEco, Inc. [GLYE]

(Last)        (First)        (Middle)

230 GILL WAY

4. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                            _____ 10% Owner
___ X ___ Officer (give title below)          _____ Other (specify below)
EVP-Industrial Segment /

(Street)

ROCK HILL, SC 29730       

(City)              (State)              (Zip)
5. If Amendment, Date Original Filed (MM/DD/YYYY)

 

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 Beneficially Owned
1.Title of Security
(Instr. 4)
2. Amount of Securities Beneficially Owned
(Instr. 4)
3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)
4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock   509900   (1) D    

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 4)
2. Date Exercisable and Expiration Date
(MM/DD/YYYY)
3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)
4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)
6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares

Explanation of Responses:
(1)  In 2017, prior to becoming a reporting person, Mr. Kelly was granted 250,000 restricted shares of common stock with respect to his initial offer letter with the Company. Such shares vest at a thirty(30)-day volume weighted average price of $0.20 per shares. Additionally, in 2017, Mr. Kelly purchased 9,900 restricted shares of common stock through the Company's Equity Incentive Program. In 2018, Mr. Kelly was awarded a grant of 200,000 restricted shares of common stock to be issued as follows: 100,000 shares of which shall be granted upon the Company becoming EBITDA Positive; and 100,000 shares which shall be granted upon the Company achieving positive net income. Additionally, in 2018, Mr. Kelly was awarded a separate grant of 50,000 restricted shares of common stock to be issued as follows: 25,000 shares of which shall be granted upon the Company becoming EBITDA Positive; and 25,000 shares which shall be granted upon the Company achieving positive net income.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Kelly Dennis Richard
230 GILL WAY
ROCK HILL, SC 29730


EVP-Industrial Segment

Signatures
/s/ Dennis Kelly 5/22/2018
** 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 5(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 control number.
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