SEC Form 4 · accession 0001140361-18-000881
ORBCOMM Inc. · ORBC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jerome B Eisenberg
Director
Period of report
Jan 1, 2018
Accepted (ET)
Jan 4, 2018 · 5:58 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 Stock | Jan 1, 2018 | M | 9,324 | $0.00 | A | 969,998 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock Unit (Time Vested)F1 | $0.00 | Jan 1, 2018 | M | 9,324 | D | — | — | Common Stock | 9,324 | 0 | D |
| Restricted Stock Unit (Time Vested)F2 | $0.00 | Jan 2, 2018 | A | 7,790 | A | — | — | Common Stock | 7,790 | 7,790 | D |
| Stock Appreciation RightF3 | $8.58 | holding | — | — | — | — | — | Common Stock | 30,000 | 30,000 | D |
Explanation of responses
- F1Shares of ORBCOMM Inc. common stock underlying Time Vested Restricted Stock Units ("TV RSUs") that vested on January 1, 2018.
- F2Each TV RSU represents the right to receive one share of common stock or its cash equivalent. The number of TV RSUs was determined by dividing $80,000 by the closing price of ORBCOMM Inc. common stock on January 2, 2018 of $10.27 per share. The TV RSUs vest on January 1, 2019.
- F3Each 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 ORBCOMM Inc. common stock from the date of grant of the TV SAR (January 3, 2017) to the date of exercise of the TV SAR. One-half of the 30,000 TV SAR awards vested on January 1, 2018 and the other half will vest on March 31, 2018. The TV SAR awards expire on January 3, 2027 and have an exercise price of $8.58 per share, the closing price of the common stock on the grant date.