SEC Form 4 · accession 0001140361-16-058744
GSE SYSTEMS INC · GVP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Sean Martin Fuller
Officer — Sr VP, Sales
Period of report
Mar 21, 2016
Accepted (ET)
Mar 22, 2016 · 5:30 pm EDT
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 | Mar 21, 2016 | A | 100,000 | $0.00 | A | 100,000 | 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. Fuller and the Issuer. The restricted share units awarded will vest in installments of (a) 16,863 shares when the volume weighted average price of the common stock exceeds $2.50 for a 90 consecutive day trading period, (b) 26,863 shares when the volume weighted average price of the common stock exceeds $3.25 for a 90 consecutive day trading period, (c) 26,863 shares when the volume weighted average price of the common stock exceeds $4.25 for a 90 consecutive day trading period, and (d) 29411 shares when the volume weighted average price of the common stock exceeds $6.00 for a 90 consecutive day trading period.
- F2These restricted share units were granted to Mr. Fuller for his services as Senior Vice President, Sales of the Issuer.