Home > Insider Trading > Filing (0001140361-17-032875)

Filing Details

Accession Number:: 0001140361-17-032875
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2017-08-21 19:09:51
Reporting Period:: 2017-08-17

Accepted Time:: 2017-08-21 18:09:51
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
1587912	Constantine Milcos	C/O Orbcomm, Inc. 395 W. Passaic Street Suite 325 Rochelle Park NJ 07662	Sr Vp Chief Accounting Officer	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	24,000	$5.14	39,047	No	4	M	Direct
Common Stock	Disposition	2017-08-17	10,888	$11.33	28,159	No	4	D	Direct
Common Stock	Disposition	2017-08-17	13,832	$11.27	14,327	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	24,000	$0.00	24,000	$5.14

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

Reported Derivative Holdings

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Sec. Name	Sec. Type	Price	Amount	Remaning Holdings	Nature of Ownership
Common Stock	Restricted Stock Unit (Performance Vested)	$0.00	2,183	2,183	Direct
Common Stock	Restricted Stock Unit (Time Vested)	$0.00	2,184	2,184	Direct
Common Stock	Stock Appreciation Right	$6.60	6,100	6,100	Direct
Common Stock	Stock Appreciation Right	$5.92	6,100	6,100	Direct

Amount	Remaning Holdings	Nature of Ownership
2,183	2,183	Direct
2,184	2,184	Direct
6,100	6,100	Direct
6,100	6,100	Direct

Footnotes

Includes 1,300 and 1,240 shares of common stock acquired on November 30, 2016 and May 31, 2017, respectively, under the ORBCOMM Inc. (the "Company") 2016 Employee Stock Purchase Plan in transactions that were exempt under Rule 16b-3(c).
Represents the difference between the nominal number of SARs exercised (24,000) and the actual number of shares issued as a result of the exercise (13,112), which are deemed sold back to 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 ($5.14).
The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $11.25 to $11.33, 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 (September 25, 2013) to the date of exercise of the TV SAR. The TV SAR awards vested on September 25, 2014. The TV SAR awards expire on September 25, 2023 and have an exercise price of $5.14 per share, the closing price of the common stock on the grant date.
Each Performance Vested Restricted Stock Unit ("PV RSU") represents the right to receive one share of common stock or its cash equivalent. The PV RSU will vest based on the achievement by the employee and/or the Company of certain performance targets for fiscal year 2017.
Each Time Vested Restricted Stock Unit represents the right to receive one share of common stock or its cash equivalent on the vesting date, 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 to the date of exercise of the TV SAR. The TV SAR awards vested on January 1, 2016. The TV SAR awards will expire on December 17, 2024 and have an exercise price of $6.60 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. The TV SAR awards vested on January 1, 2015. The TV SAR awards expire on December 12, 2023 and have an exercise price of $5.92 per share, the closing price of the common stock on the grant date.