SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
Stolte John J Jr

(Last) (First) (Middle)
C/O ORBCOMM INC.
2115 LINWOOD AVE. SUITE 100

(Street)
FORT LEE NJ 07024

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
ORBCOMM Inc. [ ORBC ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
EVP-Technology & Operations
3. Date of Earliest Transaction (Month/Day/Year)
05/29/2007
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 05/29/2007 S 4,094 D $11.5 17,425 D
Restricted Stock Unit (Time Vested)(1) 40,445 D
Restricted Stock Unit (Performance Vested)(2) 15,167 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (Right to Buy) (3) (3) (3) Common Stock 11,667 11,667 D
Stock Option (Right to Buy) (4) (4) (4) Common Stock 12,667 12,667 D
Stock Option (Right to Buy) (5) (5) (5) Common Stock 13,334 13,334 D
Stock Option (Right to Buy) (6) (6) (6) Common Stock 13,334 13,334 D
Explanation of Responses:
1. Each Time Vested Restricted Stock Unit ("TV RSU") represents the right to receive one share of common stock. 20,222 TV RSUs vested on May 21, 2007 and are reflected in the amount of common stock listed in Table I and an additional 20,222 TV RSUs will vest on each of May 21, 2008 and May 21, 2009.
2. Each Performance Vested Restricted Stock Unit ("PV RSU") represents the right to receive one share of common stock. 15,167 PV RSUs vested on May 21, 2007 and are reflected in the amount of common stock in Table I. The remaining 15,167 PV RSUs will vest based on the achievement by the employee and/or the Company of certain performance targets for fiscal year 2007.
3. 11,667 options for common stock ("Options") were issued on February 17, 2004. 8,201 Options were vested as of such date. The remaining 3,646 Options vest at a rate of 730 Options per quarter beginning March 31, 2004. The Options expire on February 17, 2014.
4. 12,667 Options were issued on February 17, 2004. 6,334 Options were vested as of such date. The remaining 6,334 Options vest at a rate of 792 Options per quarter beginning March 31, 2004. The Options expire on February 17, 2014.
5. 13,334 Options were issued on February 17, 2004. 3,334 Options were vested as of such date. The remaining 10,000 Options vest at a rate of 8.33% of the Option per quarter beginning March 31, 2004. The Options expire on February 17, 2014.
6. 13,334 Options were issued on February 17, 2004 and vest at a rate of 6.25% per quarter beginning March 31, 2004. The Options expire on February 17, 2014.
/s/ Bradley C. Franco, by power of attorney 05/31/2007
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.