SEC Form 4 · accession 0001140361-19-000304
ORBCOMM Inc. · ORBC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Denise W. Gibson
Director
Period of report
Jan 1, 2019
Accepted (ET)
Jan 3, 2019 · 7:21 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 | 2,316 | $0.00 | A | 2,316 | 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 | 2,316 | D | — | — | Common Stock | 2,316 | 0 | D |
| Restricted Stock Unit (Time Vested)F2 | $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 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. ("Company") 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 vested on January 1, 2019.
- 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 $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.