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Filing Details

Accession Number:: 0001144204-15-050290
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2015-08-17 20:43:25
Reporting Period:: 2015-08-13

Filing Date:: 2015-08-17
Accepted Time:: 2015-08-17 20:43:25
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
880984	Acorn Energy Inc.	ACFN	Services-Engineering Services (8711)	222786081

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1131043	H Jan Loeb	3412 Progress Drive Bensalem PA 19020		Yes	No	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2015-08-13	850,000	$0.00	850,000	No	4	P	Indirect	See Footnote

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Indirect	See Footnote

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Stock Options	Acquisiton	2015-08-13	25,000	$0.00	25,000	$0.20
Common Stock	Vested Share Rights	Acquisiton	2015-08-13	2,150,004	$0.00	2,150,004	$0.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
25,000		2022-08-13	No	4	A	Direct
2,150,004			No	4	P	Indirect

Footnotes

Granted pursuant to a Loan and Security Agreement, dated August 13, 2015, under which the Issuer borrowed $2,000,000 (the "Loan") from Leap Tide Capital Partners III, LLC ("Leap Tide").
The shares are held by Leap Tide Capital Partners III, LLC. Mr. Loeb is the sole manager of Leap Tide Capital Partners III, LLC, with sole voting and dispositive power over the shares. Mr. Loeb disclaims beneficial ownership of the shares except to the extent of his pecuniary interest therein.
Awarded upon Mr. Loeb's appointment as Director on the terms set forth for initial grants to new directors pursuant to the Issuer's Amended 2006 Stock Option Plan For Non-Employee Directors. Reservation of the shares issuable upon exercise of the options will be made when the Issuer has sufficient authorized but unissued shares to cover such issuance.
One-third of the options vest and become exercisable on each of the first, second and third anniversaries of the grant date.
The options expire on the earlier of (a) August 13, 2022 or (b) 18 months from the date Mr. Loeb ceases to be a director, officer employee or consultant.
179,167 Vested Share Rights shall vest on the 13th day of each month for each full month through August 13, 2016 (the "Maturity Date") that the entire principal amount of the Loan remains outstanding. The number of Vested Share Rights shall be prorated to the extent less than the full principal amount is outstanding and/or for any partial month in which no principal amount is outstanding. Each Vested Share Right represents a right to receive one share of Issuer's Common Stock after the expiration of the Cash Settlement Period (defined below).
The Issuer shall have the right to settle the Vested Share Rights in cash at $0.30 per Vested Share Right at any time and from time to time on or prior to the Maturity Date or 30 days after the earlier acceleration or repayment of the Loan (the "Cash Settlement Period"). The Issuer's rights during the Cash Settlement Period are subject to Leap Tide's right to put the Vested Share Rights to the Issuer at $0.40 per Vested Share Right if the Issuer fails to amend its certificate of incorporation by March 31, 2016 to authorize a number of shares of Common Stock sufficient to cover the maximum number of Vested Share Rights that would accrue through the Maturity Date.
The Vested Share Rights will be held by Leap Tide Capital Partners III, LLC. Mr. Loeb is the sole manager of Leap Tide Capital Partners III, LLC. Mr. Loeb disclaims beneficial ownership of the Vested Share Rights except to the extent of his pecuniary interest therein.