Filing Details

Accession Number:
0001140361-12-033957
Form Type:
4
Zero Holdings:
No
Publication Time:
2012-07-25 18:06:43
Reporting Period:
2012-07-24
Filing Date:
2012-07-25
Accepted Time:
2012-07-25 18:06:43
SEC Url:
Form 4 Filing
Issuer
Cik Name Symbol Sector (SIC) IRS No
1361983 Orbcomm Inc. ORBC Communications Services, Nec (4899) 412118289
Insiders
Cik Name Reported Address Insider Title Director Officer Large Shareholder Other
1467671 Brian Bell C/O Orbcomm Inc.
2115 Linwood Avenue, Suite 100
Fort Lee NJ 07024
Evp, Sales And Marketing No Yes No No
Reported Non-Derivative Transactions
Sec. Name Acquisiton - Disposition Date Amount Price Remaning Holdings Equity Swap Involved Form Type Code Nature of Ownership Explanation
Common Stock Disposition 2012-07-24 8,330 $3.21 48,942 No 4 S Direct
Equity Swap Involved Form Type Code Nature of Ownership Explanation
No 4 S Direct
Reported Non-Derivative Holdings
Sec. Name Remaning Holdings Nature of Ownership Explanation
Common Stock 57,272 Direct
Reported Derivative Holdings
Sec. Name Sec. Type Price Date Expiration Date Amount Remaning Holdings Nature of Ownership
Common Stock Stock Appreciation Right $2.46 19,375 19,375 Direct
Common Stock Stock Appreciation Right $2.46 75,000 75,000 Direct
Common Stock Stock Appreciation Right $3.65 25,000 25,000 Direct
Common Stock Stock Appreciation Right $2.74 50,000 50,000 Direct
Expiration Date Amount Remaning Holdings Nature of Ownership
19,375 19,375 Direct
75,000 75,000 Direct
25,000 25,000 Direct
50,000 50,000 Direct
Footnotes
  1. Includes 23,334 shares underlying Time Vested Restricted Stock Units ("TV RSUs") that vested on July 1, 2012.
  2. The shares were sold to cover tax liabilities incident to the vesting of 23,334 TV RSUs.
  3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $3.20 to $3.35 per share, inclusive. The reporting person undertakes to provide to ORBCOMM Inc. (the "Company"), any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
  4. Each Performance Vested Stock Appreciation Right ("PV SAR") represents the right to receive a payment measured by the increase in the fair market value of one share of common stock from the date of grant of the PV SAR to the date of exercise of the PV SAR. The PV SAR awards vest based on the achievement by the employee and/or the Company of certain performance targets for fiscal year 2010. The PV SARs expire on March 3, 2020 and have an exercise price of $2.46 per share, the closing price of the common stock on the grant date.
  5. Each Time Vested Stock Appreciation Right ("TV SAR") represents the right to receive a payment measured by the increase in the fair market value of one share of common stock from the date of grant of the TV SAR to the date of exercise of the TV SAR. 25,000 of the TV SAR awards vested on each of December 31, 2010 and December 31, 2011 and 25,000 of the TV SAR awards will vest on December 31, 2012. The TV SAR awards expire on March 3, 2020 and have an exercise price of $2.46 per share, the closing price of the common stock on the grant date.
  6. Each PV SAR represents the right to receive a payment measured by the increase in the fair market value of one share of common stock from the date of grant of the PV SAR to the date of exercise of the PV SAR. The PV SAR awards vested based on the achievement by the employee and/or the Company of certain performance targets for fiscal year 2011. The PV SARs expire on March 2, 2021 and have an exercise price of $3.65 per share, the closing price of the common stock on the grant date.
  7. Each TV SAR represents the right to receive a payment measured by the increase in the fair market value of one share of common stock from the date of grant of the TV SAR to the date of exercise of the TV SAR. The TV SAR awards vested on December 31, 2011. The TV SAR awards expire on October 26, 2021 and have an exercise price of $2.74 per share, the closing price of the common stock on the grant date.