Statement of Changes in Beneficial Ownership (4)
July 13 2020 - 5:13PM
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
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Block Paul |
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
__X__ Officer (give title below) _____ Other (specify below)
Chairman of the Board & CEO |
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(Last)
(First)
(Middle)
22 BURR FARMS ROAD |
3. Date of Earliest Transaction
(MM/DD/YYYY)
7/10/2020 |
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(Street)
WESTPORT, CT 06880
(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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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 | (1) | 7/10/2020 | | A | | $100000 | | 3/31/2021 (2) | 6/30/2021 (2) | Common Stock | $100000 | $0 (3) | $100000 | D | |
| Explanation of Responses: |
| (1) | Each restricted stock unit ("RSU") is the economic equivalent of one share of Eastside Distilling, Inc. common stock. |
| (2) | Pursuant to that certain Executive Employment Agreement between the Issuer and the Reporting Person, effective as of July 1, 2020 (the "Employment Agreement"), on July 10, 2020, the Compensation Committee of the Issuer's Board of Directors awarded the Reporting Person $100,000 in value of RSUs, which RSUs will be earned and vest in equal increments on each of March 31, 2021 and June 30, 2021, provided that the Reporting Person remains a service provider to the Issuer on each respective vesting date. |
| (3) | Awarded pursuant to the Issuer's 2016 Equity Incentive Plan. |
Reporting Owners
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| Reporting Owner Name / Address | Relationships |
| Director | 10% Owner | Officer | Other |
Block Paul
22 BURR FARMS ROAD
WESTPORT, CT 06880 | X |
| Chairman of the Board & CEO |
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Signatures
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| /s/ Paul R. Block | | 7/13/2020 |
| **Signature of Reporting Person | Date |
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