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
- 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.
- 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.
- 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.
- 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.
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