Filing Details

Accession Number:
0001140361-20-006474
Form Type:
4
Zero Holdings:
No
Publication Time:
2020-03-20 17:57:12
Reporting Period:
2020-03-18
Accepted Time:
2020-03-20 17:57:12
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
Sec. Name Acquisiton - Disposition Date Amount Price Remaning Holdings Equity Swap Involved Form Type Code Nature of Ownership Explanation
Common Stock Acquisiton 2020-03-18 23,300 $1.30 996,879 No 4 P Direct
Common Stock Acquisiton 2020-03-19 6,700 $1.31 1,003,579 No 4 P Direct
Equity Swap Involved Form Type Code Nature of Ownership Explanation
No 4 P Direct
No 4 P Direct
Reported Non-Derivative Holdings
Sec. Name Remaning Holdings Nature of Ownership Explanation
Common Stock 15,759 Indirect by Cynthia Eisenberg
Reported Derivative Holdings
Sec. Name Sec. Type Price Date Expiration Date Amount Remaning Holdings Nature of Ownership
Common Stock Restricted Stock Unit (Time Vested) $0.00 24,449 24,449 Direct
Common Stock Stock Appreciation Right $8.58 30,000 30,000 Direct
Expiration Date Amount Remaning Holdings Nature of Ownership
24,449 24,449 Direct
30,000 30,000 Direct
Footnotes
  1. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1.295 to $1.30, 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.
  2. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $1.28 to $1.34, inclusive. The reporting person undertakes to provide to 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.
  3. Each Time Vested Restricted Stock Unit ("TV RSU") represents the right to receive one share of Company common stock or its cash equivalent. The number of TV RSUs was determined by dividing $100,000 by the closing price of Company common stock on January 2, 2020 of $4.09 per share. The TV RSUs vest on January 1, 2021.
  4. 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 Company 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 vested on January 1, 2018 and the other half vested on 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.