SEC Form 4 · accession 0001140361-19-000301
ORBCOMM Inc. · ORBC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Gary H Ritondaro
Director
Period of report
Jan 1, 2019
Accepted (ET)
Jan 3, 2019 · 7:20 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, 2019 | M | 2,109 | $0.00 | A | 113,827 | D | |
| Common Stock | Jan 1, 2019 | M | 7,790 | $0.00 | A | 121,617 | 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, 2019 | M | 2,109 | D | — | — | Common Stock | 2,109 | 0 | D |
| Restricted Stock Unit (Time Vested)F2 | $0.00 | Jan 1, 2019 | M | 7,790 | D | — | — | Common Stock | 7,790 | 0 | D |
| Restricted Stock Unit (Time Vested)F3 | $0.00 | Jan 2, 2019 | A | 11,750 | A | — | — | Common Stock | 11,750 | 11,750 | 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. The number of TV RSUs was determined by dividing $20,000 by the closing price of ORBCOMM Inc. ("Company") common stock on August 1, 2018 of $9.48 per share. The TV RSUs vested on January 1, 2019.
- F2Each TV RSU represented 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 Company common stock on January 2, 2018 of $10.27 per share. The TV RSUs vested on January 1, 2019.
- F3Each 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 $100,000 by the closing price of Company common stock on January 2, 2019 of $8.51 per share. The TV RSUs vest on January 1, 2020.