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Block Paul – ‘4’ for 9/18/20 re: Eastside Distilling, Inc.

On:  Friday, 5/21/21, at 3:22pm ET   ·   For:  9/18/20   ·   Accession #:  1493152-21-12493   ·   File #:  1-38182

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 5/21/21  Block Paul                        4                      1:19K  Eastside Distilling, Inc.         M2 Compliance LLC/FA

Statement of Changes in Beneficial Ownership of Securities by an Insider   —   Form 4   —   SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 4           Statement of Changes in Beneficial Ownership of     HTML      3K 
                Securities by an Insider -- ownership.xml/3.6                    




        

This ‘4’ Document is an XML Data File that may be rendered in various formats:

  Form 4    –   Plain Text   –  SEC Website  –  EDGAR System  –    XML Data    –  <?xml?> File
 

 
SEC Info rendering:  Statement of Changes in Beneficial Ownership of Securities by an Insider
 
FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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
  
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
Block Paul

(Last)(First)(Middle)
22 BURR FARMS ROAD

(Street)
WESTPORT,CT06880

(City)(State)(Zip)
2. Issuer Name and Ticker or Trading Symbol
Eastside Distilling, Inc. [ EAST ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector 10% Owner
XOfficer (give title below) Other (specify below)
Chairman & CEO
3. Date of Earliest Transaction (Month/Day/Year)
9/18/20
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
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)
CodeVAmount(A) or (D)Price
Common Stock 9/18/20F (1) 11,956D$1.35152,954D
Common Stock 10/30/20F (2) 11,956D$1.3140,998D
Common Stock 11/27/20F (3) 10,726D$1.78130,272D
Common Stock 12/24/20F (4) 10,726D$1.36119,546D
Common Stock 3/31/21M (5) 27,320A$0 (6)148,866D
Common Stock 3/31/21M (7) 9,107A$0 (6)155,973D
Common Stock 3/31/21F (8) 12,064D$1.83143,909D
Common Stock 5/19/21P 20,000A$1.79163,909D
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 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: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Restricted Stock Units (9) 1/19/21A $200,000 3/31/21 (8) 12/31/23 (8)Common Stock$200,000$0 (6)$300,000D
Restricted Stock Units$1.83 3/31/21M $50,000 3/31/21 (10) 6/30/21 (10)Common Stock27,320 (9)$250,000D
Restricted Stock Units$1.83 3/31/21M $16,667 3/31/21 (8) 12/31/23 (8)Common Stock9,107 (9)$233,333D
Explanation of Responses:
(1)  Pursuant to that certain Executive Employment Agreement between Eastside Distilling, Inc. (the "Issuer") and Paul R. Block, which was executed on July 7, 2020 (the "Employment Agreement"), Mr. Block is entitled to receive 31,250 shares of common stock each month beginning July 2020 and continuing through December 2020, which shares will be issued under the Issuer's 2016 Equity Incentive Plan (the "Plan"). The reporting person is reporting the withholding by the Issuer of an aggregate of 11,956 shares of common stock (from the 31,250 shares of common stock that vested on September 18, 2020 pursuant to the Employment Agreement) to satisfy payment of the reporting person's tax withholding obligations.
(2)  The reporting person is reporting the withholding by the Issuer of an aggregate of 11,956 shares of common stock (from the 31,250 shares of common stock that vested on October 30, 2020 pursuant to the Employment Agreement) to satisfy payment of the reporting person's tax withholding obligations.
(3)  The reporting person is reporting the withholding by the Issuer of an aggregate of 10,726 shares of common stock (from the 31,250 shares of common stock that vested on November 27, 2020 pursuant to the Employment Agreement) to satisfy payment of the reporting person's tax withholding obligations. These shares were not actually issued and withheld until January 11, 2021.
(4)  The reporting person is reporting the withholding by the Issuer of an aggregate of 10,726 shares of common stock (from the 31,250 shares of common stock that vested on December 24, 2020 pursuant to the Employment Agreement) to satisfy payment of the reporting person's tax withholding obligations. These shares were not actually issued and withheld until January 11, 2021.
(5)  Represents settlement upon vesting of restricted stock units ("RSUs") that were awarded on July 10, 2020. These shares were not actually issued until March 31, 2021.
(6)  Awarded pursuant to the Plan. Each RSU represents the right to receive shares of common stock upon settlement for no consideration.
(7)  Represents settlement upon vesting of restricted stock units ("RSUs") that were awarded on January 19, 2021. These shares were not actually issued until March 31, 2021.
(8)  The reporting person is reporting the withholding by the Issuer an aggregate of 12,064 shares of common stock that vested on March 31, 2021 but that were not issued in order to satisfy the reporting person's tax withholding obligations in connection with the delivery of common stock to the reporting person upon vesting of RSUs. These shares were not actually issued and withheld until March 31, 2021.
(9)  Pursuant to the Employment Agreement, on January 19, 2021, the Compensation Committee of the Issuer's Board of Directors awarded the reporting person $200,000 in value of RSUs, (1/12) of which will be earned and vested on each of March 31, June 30, September 30 and December 31, beginning March 31, 2021 and ending December 31, 2023, if the reporting person remains employed on the applicable quarterly vesting date.
(10)  Pursuant to the Employment Agreement, on July 7, 2020, the Compensation Committee of the Issuer's Board of Directors awarded the reporting person $100,000 in value of RSUs, (1/2) of which will be earned and vested on each of March 31, 2021 and June 30, 2021, if the reporting person remains employed on the applicable quarterly vesting date.
/s/ Paul Block 5/21/21
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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 Number.
____________
Transaction Codes:
    A    Grant, award or other acquisition pursuant to Rule 16b-3(d).
    F    Payment of exercise price or tax liability by delivering or withholding securities incident to the receipt, exercise or vesting of a security issued in accordance with Rule 16b-3.
    M    Exercise or conversion of derivative security exempted pursuant to Rule 16b-3.
    P    Open market or private purchase of non-derivative or derivative security.

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