SEC Form 4 · accession 0001140361-16-048730
GSE SYSTEMS INC · GVP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Kyle Justin Loudermilk
Officer — Chief Executive Officer & Pres · Director
Period of report
Jan 22, 2016
Accepted (ET)
Jan 26, 2016 · 4:54 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000944480
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Jan 22, 2016 | A | 129,824 | $0.00 | A | 190,824 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1These shares of common stock represent restricted share units granted pursuant to a restricted share unit agreement between Mr. Loudermilk and the Issuer. The restricted share units awarded will vest in installments of 16,228 shares on each of the following dates: March 31, 2016, June 30, 2016, September 30, 2016, December 31, 2016, March 31, 2017, June 30, 2017, September 30, 2017 and December 31, 2017.
- F2These restricted share units were granted to Mr. Loudermilk for his services as the Chief Executive Officer and President of the Issuer.