SEC FORM 4

SEC Form 4

FORM 4

UNITED 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

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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^*

Grape Ulrik

(Last)

(First)

(Middle)

C/O ENER1, INC.

500 WEST CYPRESS CREEK ROAD SUITE 100

(Street)

FORT LAUDERDALE

US 33309

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
ENER1 INC [ ENEI.OB ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Executive Vice President

3. Date of Earliest Transaction (Month/Day/Year)
12/21/2006

4. If Amendment, Date of 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

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
common stock	03/09/2007		X		100,000	A	$0.01	100,000	D

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
common stock options⁽¹⁾	$0.49							⁽¹⁾	09/29/2015	common stock	1,000,000		1,000,000	D
common stock options⁽²⁾	$0.23	12/21/2006		A		200,000		12/21/2007	12/21/2011	common stock	200,000	$0	1,200,000	D
common stock options⁽³⁾	$0.23	12/21/2006		A		340,000		12/21/2007	12/21/2011	common stock	340,000	$0	1,540,000	D
common stock options⁽⁴⁾	$0.7	12/19/2007		A		600,000		12/19/2008	12/19/2012	common stock	600,000	$0	2,140,000	D

Explanation of Responses:

1. Performance based options which will only be earned when the revenues of EnerDel, Inc. exceed $5.6 million in a year. The options were awarded under an Employment Agreement with the Executive.

2. Incentive options to purchase Common Stock were granted under the Ener1, Inc. 2007 Stock Incentive Plan at an exercise price of $0.23 per share. The options will vest one third per year on December 31, 2006, 2007 and 2008.

3. Performance options to purchase 400,000 shares of Common Stock were granted under the Ener1, Inc. 2007 Stock Incentive Plan at an exercise price of $0.23 per share. The options require achievement of specific performance objectives for 2007 in order to be earned. If earned, the options will vest one third per year on each anniversary date of grant. 60,000 options were forfeited as of December 21, 2007, 280,000 options were earned as of December 21, 2007 and 60,000 number of unearned options may be earned in 2008.

4. Options to purchase Common Stock were granted under the Ener1, Inc. 2007 Stock Incentive Plan at an exercise price of $0.70 per share. The options require achievement of specific performance objectives for 2008 in order to be earned. If earned, the options will vest one third per year on each anniversary date of grant.

	/s/ Gerard A. Herlihy as attorney in fact for Ulrik Grape	03/12/2008
	** 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 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).
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