0000944480-23-000023.txt : 20230407
0000944480-23-000023.hdr.sgml : 20230407
20230407161156
ACCESSION NUMBER: 0000944480-23-000023
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20230405
FILED AS OF DATE: 20230407
DATE AS OF CHANGE: 20230407
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Pepe Emmett Anthony
CENTRAL INDEX KEY: 0001678778
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-14785
FILM NUMBER: 23808878
MAIL ADDRESS:
STREET 1: 1515 JUDD COURT
CITY: HERNDON
STATE: VA
ZIP: 20170
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: GSE SYSTEMS INC
CENTRAL INDEX KEY: 0000944480
STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372]
IRS NUMBER: 521868008
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 6940 COLUMBIA GATEWAY DRIVE, SUITE 470
CITY: COLUMBIA
STATE: MD
ZIP: 21046-3308
BUSINESS PHONE: 4109707874
MAIL ADDRESS:
STREET 1: 6940 COLUMBIA GATEWAY DRIVE, SUITE 470
CITY: COLUMBIA
STATE: MD
ZIP: 21046-3308
4
1
form4.xml
X0407
4
2023-04-05
0000944480
GSE SYSTEMS INC
GVP
0001678778
Pepe Emmett Anthony
GSE SYSTEMS INC
6940 COLUMBIA GATEWAY DR STE 470
COLUMBIA
MD
21046
true
Chief Financial Officer
false
Performance Rights
2023-04-05
4
A
0
105000
0
A
2027-01-01
Common Stock
105000
242500
D
Each performance right (PR) is a contingent right to receive one share of Issuer Common Stock. PRs vest upon satisfaction of both a Service Condition (SC) and a Stock Price Performance Condition (SPPC). The SC is satisfied for sixteen dates (3/31/23, 6/30/23, 9/30/23, 12/31/23, 3/31/24, 6/30/24, 9/30/24, 12/31/24, 3/31/25, 6/30/25, 9/30/25, 12/31/25, 3/31/26, 6/30/26, 9/30/26, and 12/31/26) if the Issuer has continuously employed the reporting person through that SC date. 6,562 PRs will be eligible to vest on the first 15 SC dates if the SPPC also has been met, and 6,570 PRs will be eligible to vest on the final SC date if the SPPC also has been met. The SPPC requires the Volume Weighted Average Price of the Issuer's Common Stock as quoted on NASDAQ to be at least $1.50 measured over a 5 consecutive trading day period. If the SPPC is not met, then PRs eligible to vest due to satisfaction of a SC shall aggregate and vest upon any later satisfaction of the SPPC.
/s/ Pepe Emmett Anthony
2023-04-07