USA Technologies, Inc.
USA TECHNOLOGIES INC (Form: 4, Received: 08/29/2017 17:33:37)
FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

HERBERT STEPHEN P
2. Issuer Name and Ticker or Trading Symbol

USA TECHNOLOGIES INC [ USAT ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__ X __ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
CEO
(Last)          (First)          (Middle)

100 DEERFIELD LN, SUITE 300
3. Date of Earliest Transaction (MM/DD/YYYY)

8/16/2017
(Street)

MALVERN, PA 19355
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
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. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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   6/30/2017     G    10000   D $0   311388   D    
Common Stock                  301388   (1) D    
Common Stock   8/23/2017     A (2)    116445   A $0   417833   D    
Common Stock                  72010   (1) I   By Child  
Common Stock                  27440   I   By Spouse  

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. 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 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 of Derivative Security: 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
Qualified Stock Option (Right to Buy)   $5.25   8/16/2017     A      19047       8/16/2018   8/16/2024   Common Stock   19047   $0   19047   D    
Qualified Stock Option (Right to Buy)   $4.98                    8/31/2017   8/31/2023   Common Stock   20080     20080   D    
Qualified Stock Option (Right to Buy)   $3.38                    8/1/2016   8/1/2022   Common Stock   29585     29585   D    
Qualified Stock Option (Right to Buy)   $1.8                    9/1/2015   9/1/2021   Common Stock   55555     55555   D    
Non-Qualified Stock Option (Right to Buy)   $1.8                      (3) 9/1/2021   Common Stock   150000     150000   D    

Explanation of Responses:
(1)  Adjusted to reflect 10,000 shares gifted by Mr. Herbert to his son that effected only a change in the form of Mr. Herbert's beneficial ownership without changing his pecuniary interest in such securities.
(2)  Represents shares awarded to Mr. Herbert under the Company's Fiscal Year 2017 Long-Term Incentive Performance Share Plan, which vest as follows: one-third upon issuance, one-third on June 30, 2018, and one-third on June 30, 2019.
(3)  The stock options vested or vest as follows: 50,000 on 9/1/2015; 50,000 on 9/1/2016; and 50,000 on 9/1/2017.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
HERBERT STEPHEN P
100 DEERFIELD LN
SUITE 300
MALVERN, PA 19355
X
CEO

Signatures
/s/ Stephen P. Herbert 8/29/2017
** Signature of Reporting Person Date


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* 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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