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Filing Details

Accession Number:: 0001140361-17-032636
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2017-08-17 19:00:44
Reporting Period:: 2017-08-17

Filing Date:: 2017-08-17
Accepted Time:: 2017-08-17 19:00:44
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
1368678	B Jerome Eisenberg	C/O Orbcomm Inc. 395 W Passaic Street, Suite 325 Rochelle Park NJ 07662		No	No	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership
Common Stock	Acquisiton	2017-08-17	100,000	$4.96	1,056,141	No	4	M	Direct
Common Stock	Disposition	2017-08-17	43,778	$11.33	1,012,363	No	4	D	Direct
Common Stock	Disposition	2017-08-17	24,000	$11.04	988,363	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	M	Direct
No	4	D	Direct
No	4	S	Direct

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Stock Appreciation Right	Disposition	2017-08-17	100,000	$0.00	100,000	$4.96

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
0			No	4	M	Direct

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	15,759	Indirect	by Cynthia Eisenberg

Reported Derivative Holdings

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Sec. Name	Sec. Type	Price	Date	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Common Stock	Restricted Stock Unit (Time Vested)	$0.00			9,324	9,324	Direct
Common Stock	Stock Appreciation Right	$8.58			30,000	30,000	Direct

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
	9,324	9,324	Direct
	30,000	30,000	Direct

Footnotes

Represents the difference between the nominal number of SARs exercised (100,000) and the actual number of shares issued as a result of the exercise (56,222), which are deemed sold back to ORBCOMM Inc. (the "Company"), with an aggregate value, based on the fair market value of the common stock as of the date of exercise, equal to the aggregate exercise price of the SARs being exercised. The number of shares actually issued upon the SAR exercise is determined by multiplying the nominal number of SARs being exercised by the difference between the fair market value of the common stock as of the date of exercise ($11.33) and the exercise price ($4.96).
The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $11.00 to $11.11, inclusive. The reporting person undertakes to provide to the Company, any security holder of the Company, or the staff of the Securities Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
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 SARs are fully vested, expire in March 2018 and have an exercise price of $4.96 per share, the closing price of the common stock on the grant date.
Each Time Vested Restricted Stock Unit ("TV RSU") represents the right to receive one share of common stock or its cash equivalent. The number of TV RSUs was determined by dividing $80,000 by the closing price of the Company common stock on January 3, 2017 of $8.58 per share. The TV RSUs vest on January 1, 2018.
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 (January 3, 2017) to the date of exercise of the TV SAR. One-half of the 30,000 TV SAR awards will vest on each of January 1, 2018 and March 31, 2018. The TV SAR awards expire on January 3, 2027 and have an exercise price of $8.58 per share, the closing price of the common stock on the grant date.