Statement of Changes in Beneficial Ownership (4)
December 18 2019 - 4:56PM
Edgar (US Regulatory)
FORM 4
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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).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN 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
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1. Name and Address of Reporting Person
*
Phillips Todd L. |
2. Issuer Name and Ticker or Trading Symbol
INDUSTRIAL SERVICES OF AMERICA INC
[
IDSA
]
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) CEO, President, CFO |
(Last)
(First)
(Middle)
7100 GRADE LANE, BUILDING 1 |
3. Date of Earliest Transaction
(MM/DD/YYYY)
12/16/2019 |
(Street)
LOUISVILLE, KY 40213
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
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6. Individual or Joint/Group Filing
(Check Applicable Line)
_X
_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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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)
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2. Trans. Date
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2A. Deemed Execution Date, if any
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3. Trans. Code (Instr. 8)
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4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)
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5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)
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6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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Amount
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(A) or (D)
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Price
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Common Stock | 12/16/2019 | | M | | 119386 | A | (1) | 205115 | D | |
Common Stock | 12/16/2019 | | F | | 41532 | D | $1.11 | 163583 | D | |
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Trans. Date | 3A. Deemed Execution Date, if any | 4. Trans. 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 | 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 of Derivative Security: 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 |
Non-Incentive Stock Options (Right to Buy) | $1.27 | 12/16/2019 | | D | | | 62120 | (2) | 3/15/2024 | Common Stock | 62120 | (3) | 0 | D | |
Non-Incentive Stock Options (Right to Buy) | $2.46 | 12/16/2019 | | D | | | 31041 | (4) | 3/28/2023 | Common Stock | 31041 | (3) | 0 | D | |
Restricted Stock Units | (1) | 12/16/2019 | | M | | | 78740 | (5)(7) | (5)(7) | Common Stock | 78740 | $0 | 0 | D | |
Restricted Stock Units | (1) | 12/16/2019 | | M | | | 40646 | (6)(7) | (6)(7) | Common Stock | 40646 | $0 | 0 | D | |
Explanation of Responses: |
(1) | Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock. |
(2) | The option was originally granted on March 15, 2019 and provides for vesting in three equal annual installments commencing on March 15, 2020. |
(3) | The option was cancelled by mutual agreement of the reporting person and the Issuer for nominal, non-cash consideration. |
(4) | The option was originally granted on March 28, 2018 and provides for vesting in three equal annual installments commencing on March 28, 2019. |
(5) | The RSUs were originally granted on March 15, 2019, with vesting on March 15, 2022, subject to acceleration upon certain events |
(6) | The RSUs were originally granted on March 28, 2018, with vesting on March 28, 2021, subject to acceleration upon certain events. |
(7) | Vesting accelerated to December 16, 2019, upon the closing of the sale of substantially all of the Issuer's assets. |
Reporting Owners
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Reporting Owner Name / Address | Relationships |
Director | 10% Owner | Officer | Other |
Phillips Todd L. 7100 GRADE LANE BUILDING 1 LOUISVILLE, KY 40213 | X |
| CEO, President, CFO |
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Signatures
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Todd L. Phillips | | 12/18/2019 |
**Signature of Reporting Person | Date |
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