4//SEC Filing
Pepe Emmett Anthony 4
Accession 0000944480-24-000062
CIK 0000944480other
Filed
Oct 1, 8:00 PM ET
Accepted
Oct 2, 4:38 PM ET
Size
10.8 KB
Accession
0000944480-24-000062
Insider Transaction Report
Form 4
Pepe Emmett Anthony
Chief Financial Officer
Transactions
- Tax Payment
Common Stock
2024-09-30$4.07/sh−335$1,363→ 41,665 total - Exercise/Conversion
Common Stock
2024-09-30+1,250→ 42,915 total - Exercise/Conversion
Performance Rights
2024-09-30−1,250→ 16,750 totalExp: 2026-01-01→ Common Stock (1,250 underlying) - Tax Payment
Common Stock
2024-09-30$4.07/sh−377$1,534→ 42,538 total
Footnotes (3)
- [F1]Shares withheld by the Issuer for payment of applicable taxes owed due to the vesting of 1,111 restricted share units pursuant to one restricted share unit agreement 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 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 June 30, 2024, the SC was satisfied with respect to June 30, 2024, resulting in the vesting of 1,250 PRs and the issuance of 1,250 shares of Common Stock, of which 366 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.
Documents
Issuer
GSE SYSTEMS INC
CIK 0000944480
Entity typeother
Related Parties
1- filerCIK 0001678778
Filing Metadata
- Form type
- 4
- Filed
- Oct 1, 8:00 PM ET
- Accepted
- Oct 2, 4:38 PM ET
- Size
- 10.8 KB