Filing Details
- Accession Number:
- 0001140361-13-046212
- Form Type:
- 4
- Zero Holdings:
- No
- Publication Time:
- 2013-12-13 19:30:21
- Reporting Period:
- 2013-12-11
- Filing Date:
- 2013-12-13
- Accepted Time:
- 2013-12-13 19:30:21
- 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 |
|---|---|---|---|---|---|---|---|
| 1563522 | A. Patrick Shay | C/O Orbcomm Inc. 395 W. Passaic Street, Suite 325 Fort Lee NJ 07024 | Evp Of 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 | 2013-12-11 | 4,200 | $5.89 | 5,800 | 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 | 10,000 | Direct | |
| Restricted Stock Unit (Performance Vested) | 16,000 | Direct | |
| Restricted Stock Unit (Time Vested) | 20,000 | Direct |
Reported Derivative Holdings
| Sec. Name | Sec. Type | Price | Date | Expiration Date | Amount | Remaning Holdings | Nature of Ownership |
|---|---|---|---|---|---|---|---|
| Common Stock | Stock Appreciation Right | $3.38 | 32,000 | 32,000 | Direct | ||
| Common Stock | Stock Appreciation Right | $3.38 | 30,000 | 30,000 | Direct |
| Expiration Date | Amount | Remaning Holdings | Nature of Ownership |
|---|---|---|---|
| 32,000 | 32,000 | Direct | |
| 30,000 | 30,000 | Direct |
Footnotes
- Includes 10,000 shares underlying Time Vested Restricted Stock Units ("TV RSU") that vested on December 3, 2013.
- The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $5.85 to $5.92 inclusive. The reporting person undertakes to provide to ORBCOMM Inc., any security holder of ORBCOMM Inc., 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.
- Each Performance Vested Restricted Stock Unit ("PV RSU") represents the right to receive one share of common stock. The PV RSU awards will vest based on the achievement by the employee and/or the Company of certain performance targets for fiscal year 2013.
- Each TV RSU represents the right to receive one share of common stock. One-third of the original 30,000 TV RSU awards vested on December 3, 2013. The remaining two-thirds of the TV RSU awards will vest in equal installments on each of December 3, 2014 and December 3, 2015.
- 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. The TV SAR awards will vest on January 1, 2014. The TV SAR awards expire on December 3, 2022 and have an exercise price of $3.38 per share, the closing price of the common stock on the grant date.
- 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. One-third of the original 30,000 TV SAR awards vested on December 3, 2013. The remaining two-thirds of the TV SAR awards will vest in equal installments on each of December 3, 2014 and December 3, 2015. The TV SAR awards expire on December 3, 2022 and have an exercise price of $3.38 per share, the closing price of the common stock on the grant date.
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