4//SEC Filing
Pugh Daniel Warren 4
Accession 0000944480-23-000029
CIK 0000944480other
Filed
Apr 6, 8:00 PM ET
Accepted
Apr 7, 4:26 PM ET
Size
6.0 KB
Accession
0000944480-23-000029
Insider Transaction Report
Form 4
Pugh Daniel
SVP, General Counsel & RMO
Transactions
- Award
Performance Rights
2023-04-05+38,250→ 38,250 totalExp: 2027-01-01→ Common Stock (38,250 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. 2,390 PRs will be eligible to vest on the first 15 SC dates if the SPPC also has been met, and 2,400 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 0001665849
Filing Metadata
- Form type
- 4
- Filed
- Apr 6, 8:00 PM ET
- Accepted
- Apr 7, 4:26 PM ET
- Size
- 6.0 KB