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Filing Details

Accession Number:: 0001140361-19-004708
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2019-03-11 16:19:34
Reporting Period:: 2019-03-07

Accepted Time:: 2019-03-11 16:19:34
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& Cao	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	Explanation
Common Stock	Disposition	2019-03-07	4,161	$7.16	32,846	No	4	S	Direct

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

Reported Derivative Holdings

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Sec. Name	Sec. Type	Price	Amount	Remaning Holdings	Nature of Ownership
Common Stock	Stock Appreciation Right	$6.60	6,100	6,100	Direct
Common Stock	Stock Appreciation Right	$5.92	6,100	6,100	Direct
Common Stock	Restricted Stock Unit (Performance Vested)	$0.00	2,762	2,762	Direct
Common Stock	Restricted Stock Unit (Time Vested)	$0.00	2,763	2,763	Direct

Amount	Remaning Holdings	Nature of Ownership
6,100	6,100	Direct
6,100	6,100	Direct
2,762	2,762	Direct
2,763	2,763	Direct

Footnotes

The reporting person sold shares of common stock in the open market to cover income tax obligations associated with the vesting of Performance Vested Restricted Stock Units ("PV RSUs"), as disclosed on the reporting person's Form 4 filed on March 5, 2019.
The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person, to cover tax withholding obligations.
The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $7.10 to $7.29, 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
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 (December 17, 2014) to the date of exercise of the TV SAR. The TV SAR awards vested on January 1, 2016. The TV SAR awards 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 (December 12, 2013) 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.
Each 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 2019.
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, 2020.