|ELON Stock Split Q&A|
|15.||How many shares will be outstanding after the split?|
The reverse split will reduce the number of shares of Echelon’s outstanding common stock from approximately 44.1 million shares to approximately 4.1 million shares and it will also reduce the authorized number of shares of the Company’s stock from 100 million to 10 million.
|16.||Why are you doing the reverse split at 10 for 1?|
Together with our advisors, we considered many factors and conducted an analysis of the value of a higher share price versus the need to regain compliance and maintain sufficient liquidity, and settled upon 10 for 1 as the best balance to position the company for future growth and value.
|17.||When do the new shares start trading and on what exchange?|
The reverse split is intended to become effective on December 7, 2015 and the Company’s split-adjusted common shares are expected to begin trading on the NASDAQ Capital Market on December 8, 2015.
|18.||Will someone contact me about converting my shares?|
Stockholders who have existing stock certificates will receive written instructions by mail from the Company’s transfer agent, Registrar and Transfer Company. Stockholders who hold their shares in brokerage accounts or “street name” are not required to take any action to effect the exchange of their shares. Such stockholders will be contacted by their brokers with instructions.
|19.||Who do I contact about my shares if I do not receive instructions?|
Echelon’s transfer agent can assist you with these changes:Computershare
P.O. Box 43006
Providence, RI 02940-3006
Overnight correspondence should be mailed to:
250 Royall Street
Canton, MA 02021
Shareholder online inquiries
|1.||When does Echelon's fiscal year end?|
Echelon is on a calendar year ending December 31st.
|2.||Where is Echelon located?|
Echelon is headquartered in San Jose, California. The company also has offices in China, the United Kingdom, France, Germany, Hong Kong, Italy, Japan, Korea, and The Netherlands.
|3.||What products does Echelon sell?|
Echelon Corporation is a pioneer in developing open-standard control networking platforms and delivers elements necessary to design, install, monitor and control highly reliable, scalable and secure communities of devices. Echelon's vision is one of low-cost monitoring and control technology in every industrial electrical device in the world and complete vertical solutions in the fastest growing market segments. With more than 110 million Echelon-powered devices shipped worldwide, Echelon helps its customers migrate existing legacy devices, and bring new devices and applications into a growing global Industrial Internet. Echelon expanded its product line to include outdoor lighting control offerings through the acquisition of Lumewave Inc., a wireless outdoor lighting control system provider with a track record selling its solution to U.S. municipalities, universities, medical facilities and enterprises. The Lumewave products, which include individual lighting controllers, motion sensors, gateways, and management and maintenance software, have since been incorporated into Echelon’s product portfolio along with the established Lumewave sales channels in North America.
Echelon offers, directly and through its partners worldwide, a wide range of products and services for the IIoT market. These represent horizontal embedded control platforms, such as LONWORKS and IzoT, which include components, control nodes and development software, and which are sold typically to Original Equipment Manufacturers (OEMs), along with complete solutions for the lighting market. This model allows Echelon to address a broad range of applications, market segments, geographies and regulatory environments and allows our customers to balance time-to-market and cost requirements. With a broad range of industrial applications and geographies to choose from, we apply our product and sales efforts to the highest growth opportunities. We target changing and fast-growing geographies that require the benefits of control networking on devices that reside at the edge of the network.
|4.||When is the Echelon shareholder meeting and who can attend?|
Echelon welcomes all shareholders to its annual meeting held at the company’s headquarters in San Jose, California, typically during the second quarter each year. Complete meeting information is included in the company's annual proxy statement that is distributed with the annual report. Meeting information is also posted on this website in the Event Calendar section.
|5.||Who can I contact with questions regarding my stock certificate(s)?|
For general questions about stock certificates, please contact Echelon’s stock transfer agent, at 800-356-2017.
|6.||How do I change my address or title on my Echelon stock certificate(s)?|
Echelon’s transfer agent can assist you with these changes:
Overnight correspondence should be mailed to:
Shareholder online inquiries
|7.||How many employees currently work at Echelon?|
As of February 28, 2015, we had 106 employees worldwide, of which 32 were in product development, 30 were in sales and marketing, 22 were in general and administrative, 18 were in operations, and 4 were in customer support and training. About 69 employees are located at our headquarters in California and 9 employees are located in other offices throughout the United States. Our remaining employees are located in eleven countries worldwide, with the largest concentrations in China, Hong Kong, the Netherlands, and the United Kingdom. None of our employees are represented by a labor union. We have not experienced any work stoppages and we believe relations with our employees are good.
|8.||What acquisitions has Echelon made?|
Lumewave in 215; MTC in 2003; BeAtHome in 2002; ARIGO Software GmbH in 2001.
|9.||How can I buy or sell Echelon stock?|
Echelon’s common stock is listed on the Nasdaq Global Market stock exchange under the ticker symbol “ELON.” Shares can be purchased or sold from any licensed stock brokerage firm or financial institution that provides such services.
|10.||Who is Echelon's independent public accounting firm?|
KPMG LLC has been Echelon’s public accounting firm since March 2002.
|11.||Does Echelon have a direct purchase plan?|
Echelon does not have a direct purchase plan at this time.
|12.||Does Echelon issue dividends or have a DRIP program?|
Echelon does not currently issue dividends. Because we are a growing company, we reinvest cash back into the business to fund key programs such as research and development, so that we can continue to maintain and extend our technological lead. Therefore, the company does not have a dividend reinvestment program (DRIP).
|13.||How can I stay informed regarding Echelon’s activities?|
Interested parties can sign up and select among e-mail alerts for SEC filings, financial reports, annual reports, events, news, weekly summaries, and stock trading (price and volume) by linking to the E-mail alerts page on this website.
|14.||When did the stock split take place?|
At a Special Meeting of Stockholders held on November 17, 2015, the stockholders of the Company voted to approve an amendment to the Company’s Amended and Restated Certificate of Incorporation to effect a 1-for-10 reverse stock split of the Company’s outstanding Common Stock, together with a corresponding reduction in the total number of shares of authorized stock. Upon the effectiveness of the reverse stock split, each 10 shares of issued and outstanding Echelon common stock will be converted into 1 share of Echelon common stock, and if applicable, cash in lieu of fractional shares that would otherwise have been issued. Additional information about the reverse stock split can be found in the Echelon’s Definitive Proxy Statement on Schedule 14A, filed with the Securities and Exchange Commission on September 29, 2015.