Statement of Changes in Beneficial Ownership (4)
April 07 2020 - 7:34PM
Edgar (US Regulatory)
FORM 4
[ ]
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
*
Peterson Jack N |
2. Issuer Name and Ticker or Trading Symbol
Eastside Distilling, Inc.
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EAST
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
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(Last)
(First)
(Middle)
808 SW THIRD AVENUE, SUITE 610 |
3. Date of Earliest Transaction
(MM/DD/YYYY)
4/6/2020 |
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(Street)
PORTLAND,, OR 97204
(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 | 4/6/2020 | | M | | 33181 (1)(2) | A | $0 | 63564 | D | |
| Common Stock | | | | | | | | 45359 | I | By Sandstrom Partners, Inc. (3) |
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 |
| Restricted Stock Units | (4) | 4/6/2020 | | A | | 33181 | | 4/6/2020 (5) | 4/6/2020 (5) | Common Stock | 33181 | $0.00 | 33181 | D | |
| Restricted Stock Units | (4) | 4/6/2020 | | M | | | 33181 | 4/6/2020 (5) | 4/6/2020 (5) | Common Stock | 33181 | $0.00 | 0 | D | |
| Explanation of Responses: |
| (1) | Represents the settlement upon vesting of restricted stock units ("RSUs") that were awarded on April 6, 2020. |
| (2) | Of the total RSUs awarded to the Reporting Person, 9,545 RSUs were awarded to him as directors' compensation and 23,636 RSUs were awarded in his capacity as a consultant to the Issuer. |
| (3) | The Reporting Person is the president, a director and a principal shareholder of Sandstrom Partners, Inc. He disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein. The inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose. |
| (4) | Each RSU is the economic equivalent of one share of Eastside Distilling, Inc. common stock. The closing price of EAST on April 6, 2020 was $1.10. |
| (5) | All 33,181 RSUs vested immediately upon grant. |
Reporting Owners
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| Reporting Owner Name / Address | Relationships |
| Director | 10% Owner | Officer | Other |
Peterson Jack N
808 SW THIRD AVENUE, SUITE 610
PORTLAND,, OR 97204 | X |
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Signatures
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| /s/ JACK N. PETERSON | | 4/7/2020 |
| **Signature of Reporting Person | Date |
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