SEC Form 4 · accession 0001140361-15-043609
GSE SYSTEMS INC · GVP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Bahram Meyssami
Officer — Chief Technology Officer
Period of report
Dec 1, 2015
Accepted (ET)
Dec 3, 2015 · 7:33 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000944480
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 UnitsF1,F2 | — | Dec 1, 2015 | A | 48,000 | A | — | Nov 30, 2012 | Common Stock | 48,000 | 48,000 | D |
| Restricted Stock UnitsF1,F3 | — | Dec 1, 2015 | A | 48,000 | A | — | Nov 30, 2021 | Common Stock | 48,000 | 96,000 | D |
| Restricted Stock UnitsF1,F4 | — | Dec 1, 2015 | A | 48,000 | A | — | Nov 30, 2021 | Common Stock | 48,000 | 144,000 | D |
| Restricted Stock UnitsF1,F5 | — | Dec 1, 2015 | A | 56,000 | A | — | Nov 30, 2021 | Common Stock | 56,000 | 200,000 | D |
Explanation of responses
- F1Each Restricted Stock Unit represents the contingent right to receive one share of common stock upon vesting of the unit.
- F2The Restricted Stock Units will vest in their entirety if the Volume Weighted Average Price of the Company's Common Stock as quoted on the NYSE MKT exceeds $2.50 for a 90 consecutive trading day period.
- F3The Restricted Stock Units will vest in their entirety if the Volume Weighted Average Price of the Company's Common Stock as quoted on the NYSE MKT exceeds $3.25 for a 90 consecutive trading day period.
- F4The Restricted Stock Units will vest in their entirety if the Volume Weighted Average Price of the Company's Common Stock as quoted on the NYSE MKT exceeds $4.25 for a 90 consecutive trading day period.
- F5The Restricted Stock Units will vest in their entirety if the Volume Weighted Average Price of the Company's Common Stock as quoted on the NYSE MKT exceeds $6.00 for a 90 consecutive trading day period.