GSE SYSTEMS INC 4
4 · GSE SYSTEMS INC · Filed Jul 1, 2016
Insider Transaction Report
Form 4
Fendley Michael Wayne
VP Services
Transactions
- Other
Performance Rights
2016-07-01−20,000→ 20,000 total→ Common Stock (20,000 underlying) - Award
Performance Rights
2016-07-01+20,000→ 20,000 totalExp: 2021-10-30→ Common Stock (20,000 underlying)
Footnotes (1)
- [F1]The two reported transactions involve an amendment of the terms of performance-restricted stock units ("RSUs") to reduce the time period during which the Volume Weighted Average Price ("VWAP") target must be attained for the RSUs to vest from a 90 to a 30 consecutive trading day period ("30-Day Period") and resulting in the deemed cancellation of the "old" RSUs and the grant of replacement RSUs. The RSUs were originally granted on 10/30/2015, in connection with the reporting person's service as the Sr VP Services of the Issuer and vest as follows: 20,000 RSUs will vest in their entirety if the VWAP of the Issuer's Common Stock as quoted on the NYSE MKT exceeds $2.50 for a 30-Day Period.