Eastside Distilling (BLNE) Form 4 Eastside Distilling / ELIZABETH ANN LEVY-NAVARRO ownership change

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

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^*

LEVY-NAVARRO ELIZABETH ANN

(Last) (First) (Middle)

C/O EASTSIDE DISTILLING, INC.

8911 NE MARX DRIVE, SUITE A2

(Street)

PORTLAND, OR 97220

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
03/22/2021

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	05/11/2021		M(1)		8,722	A	$0	8,722	D
Common Stock	05/27/2021		S		8,722	D	$2.22	0	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (right to buy)	$1.9	03/22/2021		A		5,000		03/22/2021(2)	03/22/2031	Common Stock	5,000	$0(3)	5,000	D
Restricted Stock Units	(3)(4)	03/22/2021		A		$16,600(5)		06/30/2021(5)	03/31/2022	Common Stock	$16,600	$0(3)	$16,600(4)	D
Restricted Stock Units	(3)(4)	05/11/2021		A		8,722		05/11/2021(6)	05/11/2021(6)	Common Stock	8,722	$0(3)	8,722	D
Restricted Stock Units	(3)(4)	05/11/2021		M			8,722	05/11/2021(6)	05/11/2021(6)	Common Stock	8,722	$0(3)	0	D

Explanation of Responses:

1. Repesents the settlement upon vesting of restricted stock units ("RSUs") that were awarded on March 22, 2021.

2. The options are immediately exercisable.

3. Granted under the Issuer's 2016 Equity Incentive Plan.

4. Each RSU represents the right to receive shares of common stock upon settlement for no consideration.

5. On March 22, 2021, the Issuer's Board of Directors awarded the reporting person $16,600 in value of RSUs, 1/4 of which will be earned and vested on each of June 30, 2021, September 30, 2021, December 31, 2021, and March 31, 2022, if the reporting person remains employed on the applicable quarterly vesting date. Although the last installment of this RSU has vested, the Issuer has not yet issued the shares of common stock underlying this RSU.

6. All 8,722 RSUs vested immediately upon grant.

	/s/ Elizabeth A. Levy-Navarro	09/14/2021
	** 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).
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.