4//SEC Filing
Meyssami Bahram 4
Accession 0000944480-23-000025
CIK 0000944480other
Filed
Apr 6, 8:00 PM ET
Accepted
Apr 7, 4:14 PM ET
Size
5.8 KB
Accession
0000944480-23-000025
Insider Transaction Report
Form 4
Meyssami Bahram
Chief Technology Officer
Transactions
- Award
Performance Rights
2023-04-05+44,200→ 44,200 totalExp: 2027-01-01→ Common Stock (44,200 underlying)
Footnotes (1)
- [F1]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. 2,762 PRs will be eligible to vest on the first 15 SC dates if the SPPC also has been met, and 2,770 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.
Documents
Issuer
GSE SYSTEMS INC
CIK 0000944480
Entity typeother
Related Parties
1- filerCIK 0001660032
Filing Metadata
- Form type
- 4
- Filed
- Apr 6, 8:00 PM ET
- Accepted
- Apr 7, 4:14 PM ET
- Size
- 5.8 KB