GSE SYSTEMS INC 4
4 · GSE SYSTEMS INC · Filed Jul 1, 2016
Insider Transaction Report
Form 4
Fuller Sean Martin
Sr VP, Sales
Transactions
- Award
Performance Rights
2016-07-01+100,000→ 100,000 totalExp: 2022-03-21→ Common Stock (100,000 underlying) - Other
Performance Rights
2016-07-01−100,000→ 100,000 total→ Common Stock (100,000 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 3/21/2016, in connection with the reporting person's service as the Sr VP Sales of the Issuer and vest as follows: 16,863 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, 26,863 RSUs will vest in their entirety if the VWAP exceeds $3.25 for a 30-Day Period, 26,863 RSUs will vest in their entirety if the VWAP exceeds $4.25 for a 30-Day Period, and 29,411 RSUs will vest in their entirety if the VWAP exceeds $6.00 for a 30-Day Period.