SEC Form 4 · accession 0001140361-18-000879
ORBCOMM Inc. · ORBC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Constantine Milcos
Officer — Sr VP Chief Accounting Officer
Period of report
Jan 1, 2018
Accepted (ET)
Jan 4, 2018 · 5:53 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 |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Jan 1, 2018 | M | 2,184 | — | A | 17,038 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock Unit (Time Vested)F1 | $0.00 | Jan 1, 2018 | M | 2,184 | D | — | — | Common Stock | 2,184 | 0 | D |
| Stock Appreciation RightF2 | $6.60 | holding | — | — | — | — | — | Common Stock | 6,100 | 6,100 | D |
| Stock Appreciation RightF3 | $5.92 | holding | — | — | — | — | — | Common Stock | 6,100 | 6,100 | D |
| Restricted Stock Unit (Performance Vested)F4 | $0.00 | holding | — | — | — | — | — | Common Stock | 2,183 | 2,183 | D |
| Restricted Stock Unit (Performance Vested)F5 | $0.00 | holding | — | — | — | — | — | Common Stock | 2,004 | 2,004 | D |
| Restricted Stock Unit (Time Vested)F6 | $0.00 | holding | — | — | — | — | — | Common Stock | 2,004 | 2,004 | D |
Explanation of responses
- F1Each Time Vested Restricted Stock Unit ("TV RSU") represented the right to receive one share of common stock or its cash equivalent, all of which vested on January 1, 2018.
- F2Each Time Vested Stock Appreciation Right ("TV 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 TV SAR to the date of exercise of the TV SAR. The TV SAR awards vested on January 1, 2016. The TV SAR awards will expire on December 17, 2024 and have an exercise price of $6.60 per share, the closing price of the common stock on the grant date.
- F3Each TV 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 TV SAR to the date of exercise of the TV SAR. The TV SAR awards vested on January 1, 2015. The TV SAR awards expire on December 12, 2023 and have an exercise price of $5.92 per share, the closing price of the common stock on the grant date.
- F4Each Performance Vested Restricted Stock Unit ("PV RSU") represents the right to receive one share of common stock or its cash equivalent. The PV RSU will vest based on the achievement by the employee and/or ORBCOMM Inc. (the "Company") of certain performance targets for fiscal year 2017.
- F5Each PV RSU represents the right to receive one share of common stock or its cash equivalent. The PV RSU will vest based on the achievement by the employee and/or the Company of certain performance targets for fiscal year 2018.
- F6Each TV RSU represents the right to receive one share of common stock or its cash equivalent on the vesting date, January 1, 2019.