EPLUS INC — Director's Dealing 2015

Jan 5, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EPLUS INC (PLUS)
CIK: 0001022408
Period of Report: 2015-01-02

Reporting Person: HOVDE ERIC D (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-01-02	Common Stock	A	274	$68.22	Acquired	250226	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	112325	Indirect

Footnotes

F1: On January 2, 2015, Mr. Hovde was awarded 274 restricted shares (the "Restricted Shares") of the common stock of the Company (the "Shares"). The Restricted Shares were issued pursuant to Mr. Hovde's election to receive Shares in lieu of cash compensation as permitted under the Company's 2008 Non-Employee director Long Term Incentive Plan (the "Plan"). The Restricted Shares are subject to a restriction period described in the Plan; under certain circumstances, the restrictions may lapse. The direct ownership of 250,226 Shares includes 3,877 Shares (including the Restricted Shares) that are restricted and have not yet vested as of January 2, 2015; however, Mr. Hovde has the right to vote such Shares that are restricted prior to vesting.

F2: Mr. Hovde is the managing member of Hovde Capital, Ltd., the general partner to FIP III, which owns 77,060 Shares. Mr. Hovde is a trustee of The Eric D. and Steven D. Hovde Foundation, which owns 35,265 Shares.