SEC Form 4 · accession 0001140361-16-071660
GSE SYSTEMS INC · GVP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Emmett Anthony Pepe
Officer — Chief Financial Officer
Period of report
Jul 1, 2016
Accepted (ET)
Jul 5, 2016 · 6:45 pm EDT
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance RightsF1,F2 | — | Jul 1, 2016 | A | 48,000 | A | — | Dec 31, 2022 | Common Stock | 48,000 | 48,000 | D |
| Performance RightsF1,F3 | — | Jul 1, 2016 | A | 48,000 | A | — | Dec 31, 2022 | Common Stock | 48,000 | 96,000 | D |
| Performance RightsF1,F4 | — | Jul 1, 2016 | A | 48,000 | A | — | Dec 31, 2022 | Common Stock | 48,000 | 144,000 | D |
| Performance RightsF1,F5 | — | Jul 1, 2016 | A | 56,000 | A | — | Dec 31, 2022 | Common Stock | 56,000 | 200,000 | D |
Explanation of responses
- F1Each performance right represents a contingent right to receive one share of Issuer Common Stock.
- F2The performance rights will vest in their entirety if the Volume Weighted Average Price of the Issuer's Common Stock as quoted on the NYSE MKT exceeds $2.50 for a 30 consecutive trading day period.
- F3The performance rights will vest in their entirety if the Volume Weighted Average Price of the Issuer 's Common Stock as quoted on the NYSE MKT exceeds $3.25 for a 30 consecutive trading day period.
- F4The performance rights will vest in their entirety if the Volume Weighted Average Price of the Issuer's Common Stock as quoted on the NYSE MKT exceeds $4.25 for a 30 consecutive trading day period.
- F5The performance rights will vest in their entirety if the Volume Weighted Average Price of the Issuer 's Common Stock as quoted on the NYSE MKT exceeds $6.00 for a 30 consecutive trading day period.