Results

Summit Wireless Technologies Inc.

10/22/2020 | Press release | Distributed by Public on 10/22/2020 18:30

Statement of changes in beneficial ownership of securities

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 Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden hours per response... 0.5
(Print or Type Responses)
1. Name and Address of Reporting Person *
Howse Michael
2. Issuer Name and Ticker or Trading Symbol
Summit Wireless Technologies, Inc. [WISA]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last) (First) (Middle)
C/O SUMMIT WIRELESS TECHNOLOGIES, INC., 6840 VIA DEL ORO STE. 280
3. Date of Earliest Transaction (Month/Day/Year)
10/20/2020
(Street)
SAN JOSE, CA 95119
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock (1) 10/20/2020(2) A 14,000 (3) A $ 0 14,000 D
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)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Howse Michael
C/O SUMMIT WIRELESS TECHNOLOGIES, INC.
6840 VIA DEL ORO STE. 280
SAN JOSE, CA 95119
X

Signatures

/s/ Michael Howse 10/22/2020
**Signature of Reporting Person Date

Explanation of Responses:

* 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) Issuable upon settlement of restricted stock units of the issuer ('RSUs'), each of which represents the right to receive one share of common stock, par value $0.0001 per share, of the issuer, subject to the vesting terms of such RSUs.
(2) The grant of such RSUs was approved by the issuer's board of directors on July 27, 2020, subject to stockholder approval of the issuer's 2020 Stock Incentive Plan (the '2020 Plan') under which such RSUs were granted. The 2020 Plan was approved by the issuer's stockholders on October 20, 2020.
(3) 14,000 RSUs were received as compensation for the reporting person's service as a member of the issuer's board of directors pursuant to the issuer's 2020 Plan. The RSUs are scheduled to vest in equal installments on the first, second and third anniversaries of August 15, 2020, so long as the reporting person remains in the service of the issuer on each such anniversary. Pursuant to the rules promulgated under Section 13 of the Securities Exchange Act of 1934, as amended, the Reporting Person is not deemed to be the beneficial owner of any of the RSUs until 60 days prior to the applicable vesting dates.
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.