SEC Form 4 · accession 0001140361-18-040052
ORBCOMM Inc. · ORBC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Denise W. Gibson
Director
Period of report
Oct 1, 2018
Accepted (ET)
Oct 3, 2018 · 5:06 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001361983
Table I — non-derivative securities
No Table I lines on this filing.
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 | Oct 1, 2018 | A | 2,316 | A | — | — | Common Stock | 2,316 | 2,316 | D |
Explanation of responses
- F1Each Time Vested Restricted Stock Unit ("TV RSU") represents the right to receive one share of ORBCOMM Inc. common stock or its cash equivalent. The number of TV RSUs was determined by dividing $100,000 by the closing price of ORBCOMM Inc. common stock on October 1, 2018 of $10.88 per share, pro-rated for the number of days between Ms. Gibson's election to the Board of Directors on October 1, 2018 and December 31, 2018. The TV RSUs vest on January 1, 2019.