Form 4 Eastside Distilling, For: Sep 15 Filed by: GRAMMEN ROBERT

September 17, 2021 9:25 PM EDT

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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 *
GRAMMEN ROBERT

(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)
09/15/2021
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 09/15/2021   M (1)   7,067 A $ 0 (3) 101,053 D  
Common Stock 09/15/2021   M (2)   1,773 A $ 0 (3) 102,826 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
Restricted Stock Units (4) $ 2.83 09/15/2021   A   7,067   09/15/2021 (5) 09/15/2021 (5) Common Stock 7,067 $ 0 (3) 7,067 D  
Restricted Stock Units (4) $ 2.83 09/15/2021   M     7,067 09/15/2021 (5) 09/15/2021 (5) Common Stock 7,067 $ 0 (3) 0 D  
Restricted Stock Units (4) $ 2.82 (6) 09/15/2021   M     $ 5,000 (7) 06/30/2021 (7) 06/30/2021 (7) Common Stock 1,773 $ 0 (3) $ 0 D  
Stock Option (right to buy) $ 1.23             07/30/2020 07/30/2030 Common Stock 5,000   5,000 D  
Explanation of Responses:
1. Represents the settlement upon vesting of restricted stock units ("RSUs") that were awarded on September 15, 2021.
2. Represents the settlement upon vesting of RSUs that were awarded on July 30, 2020. The shares issued upon settlement were issued on September 15, 2021.
3. Granted under the Issuer's 2016 Equity Incentive Plan (the "Plan").
4. Each RSU represents the right to receive shares of common stock upon settlement for no consideration.
5. All 7,067 RSUs vested immediately upon grant.
6. The closing price of EAST on June 30, 2021, the vesting date, was $2.82.
7. On July 30, 2020, the Reporting Person was awarded $20,000 of RSUs, which vest in four quarterly installments beginning on September 30, 2020 and continuing thereafter on the last day of each quarter through and including June 30, 2021, subject to continued service with the Issuer on each respective vesting date.
/s/ Robert P. Grammen 09/17/2021
** 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.


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