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*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
ORBCOMM Inc. [ ORBC ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 01/02/2013 | ||||||||||||||||||||||||||
4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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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 | ||||||
Restricted Stock Unit (Time Vested)(1) | 01/02/2013 | A | 13,054 | A | (1) | 13,054 | D | |||
Common Stock | 1,004,498(2) | D | ||||||||
Common Stock | 15,759 | I | by Cynthia Eisenberg |
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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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 Appreciation Right | $11 | (3) | (3) | Common Stock | 95,187(3) | 95,187 | D | ||||||||
Stock Appreciation Right | $4.96 | (4) | (4) | Common Stock | 100,000(4) | 100,000 | D | ||||||||
Stock Option (Right to Buy) | $2.325 | 03/31/2005(5) | 02/17/2014(5) | Common Stock | 166,667 | 166,667 | D | ||||||||
Stock Option (Right to Buy) | $2.775 | 12/31/2005(6) | 02/17/2014(6) | Common Stock | 33,334 | 33,334 | D | ||||||||
Stock Option (Right to Buy) | $3.375 | 12/31/2006(7) | 02/17/2014(7) | Common Stock | 33,334 | 33,334 | D | ||||||||
Stock Option (Right to Buy) | $4.26 | 12/31/2006(8) | 02/17/2014(8) | Common Stock | 33,334 | 33,334 | D | ||||||||
Stock Option (Right to Buy) | $2.325 | 12/31/2007(9) | 02/17/2014(9) | Common Stock | 33,334 | 33,334 | D |
Explanation of Responses: |
1. Each time vested Restricted Stock Unit ("RSU") represents the right to receive one share of common stock. The number of RSUs was determined by dividing $50,000 by the closing price of ORBCOMM Inc. (the "Company") common stock on January 2, 2013 of $3.83 per share. The RSUs vest on January 1, 2014. |
2. Includes 8,403 shares underlying time vested RSUs that vested on January 1, 2013. |
3. 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 SARs are fully vested, expire in October 2016 and have an exercise price equal to the initial public offering price of $11.00 per share. |
4. Each Time Vested Stock Appreciation Right ("TV SAR") represents the right to receive 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. The TV SAR awards are fully vested, expire in March 2018 and have an exercise price of $4.96 per share, the closing price of the common stock on the grant date. |
5. 166,667 Options were issued on February 17, 2004, are fully vested and expire on February 17, 2014. |
6. 33,334 Options were issued on February 17, 2004, are fully vested and expire on February 17, 2014 |
7. 33,334 Options were issued on February 17, 2004, are fully vested and expire on February 17, 2014. |
8. 33,334 Options were issued on February 17, 2004, are fully vested and expire on February 17, 2014. |
9. 33,334 Options were issued on February 17, 2004, are fully vested and expire on February 17, 2014. Remarks: Exhibit 24 - Power of Attorney |
Remarks: |
/s/ Christian Le Brun, by power of attorney | 01/03/2013 | |
** 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. |