4//SEC Filing
Pepe Emmett Anthony 4
Accession 0000944480-24-000006
CIK 0000944480other
Filed
Jan 2, 7:00 PM ET
Accepted
Jan 3, 5:06 PM ET
Size
10.9 KB
Accession
0000944480-24-000006
Insider Transaction Report
Form 4
Pepe Emmett Anthony
Chief Financial Officer
Transactions
- Tax Payment
Common Stock
2023-12-31$2.01/sh−377$758→ 41,027 total - Exercise/Conversion
Common Stock
2023-12-31+1,250→ 41,404 total - Tax Payment
Common Stock
2023-12-31$2.01/sh−602$1,210→ 40,154 total - Exercise/Conversion
Performance Rights
2023-12-31−1,250→ 20,500 totalExp: 2026-01-01→ Common Stock (1,250 underlying)
Footnotes (4)
- [F1]Shares withheld by the Issuer for payment of applicable taxes owed due to the vesting of 1,995 restricted share units pursuant to two restricted share unit agreements between the Reporting Person and the Issuer.
- [F2]Each performance right (PR) is a contingent right to receive one share of Issuer Common Stock. PRs vest upon satisfaction of a Service Condition (SC) and a Stock Price Performance Condition (SPPC). The SC is satisfied for sixteen dates (3/31/2022, 6/30/2022, 9/30/2022, 12/31/2022, 3/31/2023, 6/30/2023, 9/30/2023, 12/31/2023, 3/31/2024, 6/30/2024, 9/30/2024, 12/31/2024, 3/31/2025, 6/30/2025, 9/30/2025, and 12/31/2025) if the Issuer has continuously employed the reporting person through that SC date, and 1,250(4) PRs then will be eligible to vest 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 $1.94 measured over a 20 consecutive trading day period. Once the SPPC is met, PRs that remain unvested shall vest upon satisfaction of each future SC.
- [F3]On June 14, 2022, the Compensation Committee of the Board of Directors of the Issuer certified that the SPPC applicable to these PRs had been satisfied. Accordingly, on December 31, 2023, the SC was satisfied with respect to December 31, 2023, resulting in the vesting of 1,250(4) PRs and the issuance of 1,250(4) shares of Common Stock, of which 377 shares of Common Stock were withheld by the Issuer for payment of applicable taxes owed due to the vesting of the 1,250 PRs as provided by a restricted share unit agreement between the Reporting Person and the Issuer.
- [F4]All share amounts reflect the ten-for-one reverse stock split effected on October 30, 2023.
Documents
Issuer
GSE SYSTEMS INC
CIK 0000944480
Entity typeother
Related Parties
1- filerCIK 0001678778
Filing Metadata
- Form type
- 4
- Filed
- Jan 2, 7:00 PM ET
- Accepted
- Jan 3, 5:06 PM ET
- Size
- 10.9 KB