SEC Form 4 · accession 0001140361-16-080415
GSE SYSTEMS INC · GVP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Daniel Warren Pugh
Officer — SVP, General Counsel & RMO
Period of report
Sep 19, 2016
Accepted (ET)
Sep 21, 2016 · 4:23 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 | Sep 19, 2016 | M | 14,400 | — | A | 19,400 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance RightsF1 | — | Sep 19, 2016 | M | 14,400 | D | — | Nov 30, 2021 | Common Stock | 14,400 | 45,600 | D |
Explanation of responses
- F1Each performance right represents a contingent right to receive one share of Issuer Common Stock 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.
- F2The acquisition of the performance rights was originally reported in Table I on February 5, 2016. An amendment to the performance rights changing a 90 consecutive day trading period to a 30 consecutive day trading period for purposes of determining vesting was subsequently reported in Table II on July 1, 2016. Following the reported transaction, the reporting person beneficially owns 19,400 shares of Issuer Common Stock.