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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 | ||||||||
| Option to Purchase Common Stock (4) (5) | $ 5.49 | 01/02/2014 | A | 17,042 | (6) | 01/02/2024 | Common Stock | 17,042 | $ 0 | 17,042 | D | ||||
| Reporting Owner Name / Address | Relationships | |||
| Director | 10% Owner | Officer | Other | |
| BAUM MARK L 5004 BEE CREEK ROAD SUITE 600 SPICEWOOD, TX 78669 |
X | |||
| /s/ Mark Baum | 03/24/2014 | |
| **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) | The shares of common stock were issued to the reporting person as compensation for his service as a director since his appointment on November 29, 2012. |
| (2) | This amount includes 8,333 shares of common stock that had been accrued for the reporting person through September 30, 2013 as compensation for his services as a director and reported on a Form 3 filed by the reporting person on November 21, 2013. |
| (3) | The securities are owned by Series E-1 of Larrem Smitty, LLC. The reporting person has voting and investment control over the securities. |
| (4) | This amendment to the reporting person's Form 4 that was originally filed on January 7, 2014 (the "Original Report") is filed for the purpose of correcting the number of shares of common stock covered by the option granted on January 2, 2014. Each independent director is to receive an option for the purchase of $50,000 in value of the Issuer's common stock as partial compensation for his services as a director. Following the filing of the Original Report, it was determined that the volatility assumption used in the Black-Scholes calculation was incorrect, which resulted in the option grant covering 12,742 shares of common stock rather than 17,042 shares of common stock. |
| (5) | The option was issued from the Ideal Power Converters, Inc. 2013 Equity Incentive Plan. |
| (6) | The right to purchase the common stock vests as follows: the right to purchase 4,260 shares of common stock vests on March 31, 2014; the right to purchase 4,261 shares of common stock vests on June 30, 2014; the right to purchase 4,260 shares of common stock vests on September 30, 2014; and the right to purchase 4,261 shares vests on December 31, 2014. |