0001140361-16-058938.txt : 20160324 0001140361-16-058938.hdr.sgml : 20160324 20160324160344 ACCESSION NUMBER: 0001140361-16-058938 CONFORMED SUBMISSION TYPE: 3 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20160322 FILED AS OF DATE: 20160324 DATE AS OF CHANGE: 20160324 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: 1332 LONDONTOWN BLVD CITY: SYKESVILLE STATE: MD ZIP: 21784 BUSINESS PHONE: 4109707874 MAIL ADDRESS: STREET 1: 1332 LONDONTOWN BLVD CITY: SYKESVILLE STATE: MD ZIP: 21784 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Fendley Michael Wayne CENTRAL INDEX KEY: 0001670169 FILING VALUES: FORM TYPE: 3 SEC ACT: 1934 Act SEC FILE NUMBER: 001-14785 FILM NUMBER: 161527083 MAIL ADDRESS: STREET 1: 107 TRACE CHAIN ROAD CITY: WOODBINE STATE: GA ZIP: 31569 3 1 doc1.xml FORM 3 X0206 3 2016-03-22 0 0000944480 GSE SYSTEMS INC GVP 0001670169 Fendley Michael Wayne C/O GSE SYSTEMS, INC. 1332 LONDONTOWN BLVD SYKESVILLE MD 21784 0 1 0 0 VP, Services Common Stock 20000 D Employee Stock Option (right to buy) 0 2018-11-11 Common Stock 20000 D Employee Stock Option (right to buy) 0 2020-11-12 Common Stock 15000 D On March 22, 2016, the Board of Directors of the Issuer made the determination that Mr. Fendley qualifies as an officer of the Issuer who performs a policy-making function, and therefore is an officer required to file Section 16 reports. These shares of common stock represent restricted share units granted pursuant to a restricted share unit agreement between Mr. Fendley and the Issuer, dated October 30, 2015. The restricted share units awarded will vest when the volume weighted average price of the common stock exceeds $2.50 for a 90 consecutive day trading period. These restricted share units were granted to Mr. Fendley pursuant to the Company incentive plan in connection with his execution of a Confidentiality Agreement on October 28, 2015. Exercisable as follows: 4,000 11/11/2012; 4,000 11/11/2013; 4,000 11/11/2014; 4,000 11/11/2015; 4,000 11/11/2016 Exercisable as follows: 6,000 11/12/2014; 4,500 11/12/2015; 4,500 11/12/2016 /s/ Michael Wayne Fendley 2016-03-24