SEC Form 4 · accession 0001140361-18-035200
ORBCOMM Inc. · ORBC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Constantine Milcos
Officer — Sr VP CAO & Interim CFO
Period of report
Jul 31, 2018
Accepted (ET)
Aug 2, 2018 · 5:07 pm EDT
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 | holding | — | — | — | 17,162 | 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 (Performance Vested)F2 | $0.00 | Jul 31, 2018 | A | 5,000 | A | — | — | Common Stock | 5,000 | 5,000 | D |
| Restricted Stock Unit (Performance Vested)F3 | $0.00 | Jul 31, 2018 | A | 5,000 | A | — | — | Common Stock | 5,000 | 5,000 | D |
| Restricted Stock Unit (Time Vested)F4 | $0.00 | Jul 31, 2018 | A | 10,000 | A | — | — | Common Stock | 10,000 | 10,000 | D |
| Stock Appreciation RightF5 | $6.60 | holding | — | — | — | — | — | Common Stock | 6,100 | 6,100 | D |
| Stock Appreciation RightF6 | $5.92 | holding | — | — | — | — | — | Common Stock | 6,100 | 6,100 | D |
| Restricted Stock Unit (Performance Vested)F7 | $0.00 | holding | — | — | — | — | — | Common Stock | 2,004 | 2,004 | D |
| Restricted Stock Unit (Time Vested)F8 | $0.00 | holding | — | — | — | — | — | Common Stock | 2,004 | 2,004 | D |
Explanation of responses
- F1Includes 275 shares of common stock acquired on May 31, 2018 under the ORBCOMM Inc. (the "Company") 2016 Employee Stock Purchase Plan in transactions that were exempt under Rule 16b-3(c).
- F2Each 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 Company of a certain performance target for fiscal year 2018.
- F3Each 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 Company of a certain performance target for fiscal year 2018.
- F4Each Time Vested Restricted Stock Unit ("TV RSU") represents the right to receive one share of common stock or its cash equivalent on the vesting date, January 1, 2019.
- F5Each 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 (December 17, 2014) to the date of exercise of the TV SAR. The TV SAR awards vested on January 1, 2016. The TV SAR awards 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.
- F6Each 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 (December 12, 2013) 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.
- F7Each 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.
- F8Each TV RSU represents the right to receive one share of common stock or its cash equivalent on the vesting date, January 1, 2019.