SEC Form 4 · accession 0001140361-18-011655
GSE SYSTEMS INC · GVP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael Wayne Fendley
Officer — VP Services
Period of report
Feb 28, 2018
Accepted (ET)
Mar 2, 2018 · 4:31 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 Stock | Feb 28, 2018 | M | 15,000 | $1.65 | A | 34,527 | D | |
| Common StockF1 | Feb 28, 2018 | F | 10,102 | $3.35 | D | 24,425 | D | |
| Common Stock | Feb 28, 2018 | M | 20,000 | $1.85 | A | 44,425 | D | |
| Common StockF2 | Feb 28, 2018 | F | 14,237 | $3.35 | D | 30,188 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option (right to buy)F3 | $1.65 | Feb 28, 2018 | M | 15,000 | D | — | Nov 12, 2020 | Common Stock | 15,000 | 20,000 | D |
| Employee Stock Option (right to buy)F4 | $1.85 | Feb 28, 2018 | M | 20,000 | D | — | Nov 11, 2018 | Common Stock | 20,000 | 0 | D |
Explanation of responses
- F1Shares withheld by the Issuer for payment of exercise price and applicable taxes owed due to the exercise of 15,000 employee stock options by the Reporting Person.
- F2Shares withheld by the Issuer for payment of exercise price and applicable taxes owed due to the exercise of 20,000 employee stock options by the Reporting Person.
- F3Exercisable as follows: 6,000 11/12/2014; 4,500 11/12/2015; 4,500 11/12/2016.
- F4Exercisable as follows: 4,000 11/11/2012; 4,000 11/11/2013; 4,000 11/11/2014, 4,000 11/11/2015; 4,000 11/11/2016.