FORM 3 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF 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 |
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1. Name and Address of Reporting Person*
(Street)
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2. Date of Event Requiring Statement
(Month/Day/Year) 08/23/2006 |
3. Issuer Name and Ticker or Trading Symbol
Fuel Systems Solutions, Inc. [ FSYS ] |
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4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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5. If Amendment, Date of Original Filed
(Month/Day/Year) |
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6. Individual or Joint/Group Filing (Check Applicable Line)
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Table I - Non-Derivative Securities Beneficially Owned | |||
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1. Title of Security (Instr. 4) | 2. Amount of Securities Beneficially Owned (Instr. 4) | 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 4. Nature of Indirect Beneficial Ownership (Instr. 5) |
Common Stock | 500 | D |
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||
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1. Title of Derivative Security (Instr. 4) | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) | 4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 6. Nature of Indirect Beneficial Ownership (Instr. 5) | ||
Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
Stock Options | (1) | 12/20/2010 | Common Stock | 4,000 | $14.34 | D | |
Stock Options | (1) | 08/15/2012 | Common Stock | 25,000 | $6.6 | D | |
Stock Options | (2) | 10/01/2013 | Common Stock | 7,500 | $14.34 | D | |
Stock Options | (3) | 05/17/2014 | Common Stock | 7,500 | $11.4 | D | |
Incentive Stock Option | (4) | 11/23/2014 | Common Stock | 7,500 | $12.04 | D | |
Phantom Stock | (5) | (6) | Common Stock | 247 | (7) | D |
Explanation of Responses: |
1. This option grant is fully vested. |
2. Option grant vests in four annual installments of 25% commencing one year from grant date of 10/1/03, subject to the reporting person's continued service as a director. |
3. Option grant vests in four annual installments of 25% commencing one year from grant date of 5/17/04, subject to the reporting person's continued service as a director. |
4. Option grant vests in four annual installments of 25% commencing one year from grant date of 11/23/04, subject to the reporting person's continued service as a director. |
5. The shares of phantom stock vest based on the length of time the reported person has been a director of the company. After two years of service as a director 25% of the total phantom shares owned vest, after three years 50% vest, after four years 75% vest and after five years all phantom shares owned at that time or acquired after that time are fully vested. Mr. Bryan began his service as a director in November 1993 and therefore all of his phantom stock is fully vested. |
6. Shares of phantom stock are held through the company's deferred compensation plan and are payable in cash following termination of the reporting person's service as a director of the company. |
7. Shares of phantom stock are convertible into shares of the company's common stock on a 1-for-1 basis. |
Remarks: |
Power of Attorney attached as Exhibit 24.1 |
/s/ Luke Guerra, attorney-in-fact | 08/23/2006 | |
** Signature of Reporting Person | Date | |
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 5 (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. |