4//SEC Filing
Bell Brian 4
Accession 0001140361-11-036195
CIK 0001361983other
Filed
Jul 7, 8:00 PM ET
Accepted
Jul 8, 2:14 PM ET
Size
12.3 KB
Accession
0001140361-11-036195
Insider Transaction Report
Form 4
ORBCOMM Inc.ORBC
Bell Brian
EVP, Sales
Transactions
- Sale
Common Stock
2011-07-06$3.15/sh−7,571$23,868→ 33,938 total
Holdings
- 19,375
Stock Appreciation Right
Exercise: $2.46→ Common Stock (19,375 underlying) - 75,000
Stock Appreciation Right
Exercise: $2.46→ Common Stock (75,000 underlying) - 41,509
Common Stock
- 23,334
Restricted Stock Unit (Time Vested)
- 25,000
Stock Appreciation Right
Exercise: $3.65→ Common Stock (25,000 underlying)
Footnotes (7)
- [F1]Time Vested Restricted Stock Unit ("TV RSU") represents the right to receive one share of common stock and will vest on July 1, 2012.
- [F2]Includes 23,333 shares underlying TV RSUs that vested on July 1, 2011.
- [F3]The shares were sold to cover tax liabilities incident to the vesting of 23,333 TV RSUs.
- [F4]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $3.12 to $3.19, 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.
- [F5]Each Performance Vested Stock Appreciation Right ("PV 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 PV SAR to the date of exercise of the PV SAR. The PV SAR awards vest based on the achievement by the employee and/or the Company of certain performance targets for fiscal year 2010. The PV SARs expire on March 3, 2020 and have an exercise price of $2.46 per share, the closing price of the common stock on the grant date. In March 2011, 19,375 PV SARs vested based on achievement of certain 2010 performance targets and 5,625 PV SARs lapsed unvested.
- [F6]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. 25,000 of the TV SAR awards vested on December 31, 2010 and 25,000 of the TV SAR will vest on each of December 31, 2011 and December 31, 2012. The TV SAR awards expire on March 3, 2020 and have an exercise price of $2.46 per share, the closing price of the common stock on the grant date.
- [F7]Each PV 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 PV SAR to the date of exercise of the PV SAR. The PV SAR awards vest based on the achievement by the employee and/or the Company of certain performance targets for fiscal year 2011. The PV SARs expire on March 2, 2021 and have an exercise price of $3.65 per share, the closing price of the common stock on the grant date.
Documents
Issuer
ORBCOMM Inc.
CIK 0001361983
Entity typeother
Related Parties
1- filerCIK 0001467671
Filing Metadata
- Form type
- 4
- Filed
- Jul 7, 8:00 PM ET
- Accepted
- Jul 8, 2:14 PM ET
- Size
- 12.3 KB