0001209191-11-062630.txt : 20111221 0001209191-11-062630.hdr.sgml : 20111221 20111221190146 ACCESSION NUMBER: 0001209191-11-062630 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20111219 FILED AS OF DATE: 20111221 DATE AS OF CHANGE: 20111221 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: ENOVA SYSTEMS INC CENTRAL INDEX KEY: 0000922237 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRONIC COMPONENTS & ACCESSORIES [3670] IRS NUMBER: 953056150 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 1560 WEST 190TH STREET CITY: TORRANCE STATE: CA ZIP: 90501 BUSINESS PHONE: 3105272800 MAIL ADDRESS: STREET 1: 1560 WEST 190TH STREET CITY: TORRANCE STATE: CA ZIP: 90501 FORMER COMPANY: FORMER CONFORMED NAME: US ELECTRICAR INC DATE OF NAME CHANGE: 19940425 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: MICEK JOHN CENTRAL INDEX KEY: 0001243187 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-33001 FILM NUMBER: 111275567 MAIL ADDRESS: STREET 1: 300 HAMILTON AVENUE, 4TH FLOOR CITY: PALO ALTO STATE: CA ZIP: 94301 4 1 doc4.xml FORM 4 SUBMISSION X0304 4 2011-12-19 0 0000922237 ENOVA SYSTEMS INC ENA 0001243187 MICEK JOHN 300 HAMILTON AVENUE FOURTH FLOOR PALO ALTO CA 94301 1 1 0 0 Chief Financial Officer Stock option (right to buy) 0.19 2011-12-19 2011-12-19 4 A 0 250000 0.00 A 2012-03-31 2014-12-19 Common stock 250000 309500 D The exercise price of the options will be the greater of: a) the effective share value of the Company's stock determined on a five-day Volume-Weighted Average Closing Price ("VWAP") as traded on the NYSE Amex for such five day trading period after a capital raising has been completed by the Company; or b) the fair market value of the common shares of the Company determined in accordance with the Plan based on the last reported sale price as traded on the NYSE Amex as of the date of grant. The options will only vest in the event that: a) the Company is sold during the Term for a price that results in proceeds to the Company's shareholders for each outstanding share of Common Stock equal to or greater in value than at least twice the exercise price; or b) during any ten (10) day trading period during the Term when the Company's common shares have a VWAP for such ten (10) day trading period equal to or greater than twice the exercise price based on the average of the closing bid and asked prices of the Company's Common Stock if quoted in the Over-The-Counter or similar market or the last reported sale price of the Common Stock or the closing price quoted on the NYSE Amex or any other U.S. exchange on which the Common Stock is then listed, whichever is applicable, as published in the Western Edition of The Wall Street Journal (or such other reference reasonably relied upon by the Company if not so published). John Micek, Chief Financial Officer 2011-12-21