SEC Form 4 · accession 0001140361-16-046887
ORBCOMM Inc. · ORBC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jerome B Eisenberg
Director
Period of report
Jan 4, 2016
Accepted (ET)
Jan 6, 2016 · 4:02 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001361983
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Restricted Stock Unit (Time Vested)F1 | Jan 4, 2016 | A | 10,989 | — | A | 10,989 | D | |
| Common StockF2 | holding | — | — | — | 1,033,791 | D | ||
| Common Stock | holding | — | — | — | 15,759 | I | by Cynthia Eisenberg |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Appreciation RightF3 | $11.00 | holding | — | — | — | — | — | Common Stock | 95,187 | 95,187 | D |
| Stock Appreciation RightF4 | $4.96 | holding | — | — | — | — | — | Common Stock | 100,000 | 100,000 | D |
Explanation of responses
- F1Each time vested Restricted Stock Unit ("RSU") represents the right to receive one share of common stock. The number of RSUs was determined by dividing $80,000 by the closing price of ORBCOMM Inc. common stock on January 4, 2016 of $7.28 per share. The RSUs vest on January 1, 2017.
- F2Includes 12,214 shares underlying time vested RSUs that vested on January 1, 2016.
- F3Each Performance Vested Stock Appreciation Right ("PV SAR") represents the right to receive a payment measured by the increase in the fair market value of one share of common stock from the date of grant of the PV SAR to the date of exercise of the PV SAR. The PV SARs are fully vested, expire in October 2016 and have an exercise price equal to the initial public offering price of $11.00 per share.
- F4Each Time Vested Stock Appreciation Right ("TV SAR") represents the right to receive payment measured by the increase in the fair market value of one share of common stock from the date of grant of the TV SAR to the date of exercise of the TV SAR. The TV SARs are fully vested, expire in March 2018 and have an exercise price of $4.96 per share, the closing price of the common stock on the grant date.