Earnings Feed
Start Free
Home/Filings/4/0001140361-20-027881
4//SEC Filing

Milcos Constantine 4

Accession 0001140361-20-027881

CIK 0001361983other
View on SEC.govCompany Profile

Filed

Dec 8, 7:00 PM ET

Accepted

Dec 9, 4:34 PM ET

Size

22.8 KB

Accession

0001140361-20-027881

Insider Transaction Report

Form 4
Period: 2020-12-07
ORBCOMM Inc.ORBC
Milcos Constantine
Sr. VP, Chief Acct Officer
Transactions
  • Award

    Restricted Stock Unit (Time Vested)

    2020-12-07+24,311→ 24,311 total
    Exercise: $0.00→ Common Stock (24,311 underlying)
  • Award

    Restricted Stock Unit (Performance Vested)

    2020-12-07+24,311→ 24,311 total
    Exercise: $0.00→ Common Stock (24,311 underlying)
  • Award

    Performance Right (Performance Unit Award)

    2020-12-07+0→ 0 total
    → Common Stock
Holdings

  • Restricted Stock Unit (Time Vested)

    Exercise: $0.00→ Common Stock (38,265 underlying)
    38,265

  • Performance Right (Performance Unit Award)

    → Common Stock
    0

  • Common Stock

    65,197

  • Stock Appreciation Right

    Exercise: $6.60→ Common Stock (6,100 underlying)
    6,100

  • Stock Appreciation Right

    Exercise: $5.92→ Common Stock (6,100 underlying)
    6,100

  • Restricted Stock Unit (Performance Vested)

    Exercise: $0.00→ Common Stock (38,265 underlying)
    38,265

  • Performance Right (Performance Unit Award)

    → Common Stock
    0
Footnotes (11)
  • [F1]Includes 2000 and 2000 shares of common stock acquired on May 31, 2020 and November 30, 2020, respectively, under the ORBCOMM Inc. (the "Company") 2016 Employee Stock Purchase Plan in transactions that were exempt under Rule 16b-3(c).
  • [F10]The 2019 PUA represents the right to receive up to 41.25% of the reporting person's 2019 base salary, in cash, common stock or a combination of both, as determined by the Committee. The 2019 PUA is allocated in 3 amounts (11.25% of 2019 base salary to 2019 and 15% of 2019 base salary to each of 2020 and 2021) and will vest and be payable only if the stock price reaches specified price targets as of 12/31 of each year and the reporting person is employed by the Company as of the vesting and payment dates. No portion of the 2019 PUA will vest if the threshold stock price is not reached for that year. If the stock price is above the threshold level for that year, the amount of the 2019 PUA that vests and is payable will increase up to the maximum portion of the 2019 PUA allocated to that year. The market price of the Company's common stock as of 12/31 of each year will be based on average daily closing prices of the common stock for the 20 trading days immediately prior to 12/31.
  • [F11]The 2020 PUA represents the right to receive up to 45% of the reporting person's 2020 base salary, in cash, common stock or a combination of both, as determined by the Committee. The 2020 PUA is allocated in 3 equal amounts (15% of 2020 base salary) to each of 2020, 2021 and 2022 and will vest and be payable only if the stock price reaches specified price targets as of 12/31 of each year and the reporting person is employed by the Company as of the vesting and payment dates. No portion of the 2020 PUA will vest if the threshold stock price is not reached for that year. If the stock price is above the threshold level for that year, the amount of the 2020 PUA that vests and is payable will increase up to the maximum portion of the 2020 PUA allocated to that year. The market price of the Company's common stock as of 12/31 of each year will be based on average daily closing prices of the common stock for the 20 trading days immediately prior to 12/31.
  • [F2]Each Performance Vested Restricted Stock Unit ("PV RSU") represents the right to receive one share of common stock or its cash equivalent. The PV RSU will vest based on the achievement by the employee and/or the Company of certain performance targets for fiscal year 2021.
  • [F3]Each Time Vested Restricted Stock Unit ("TV RSU") represents the right to receive one share of common stock or its cash equivalent on the vesting date, January 1, 2022.
  • [F4]The 2021 Performance Unit Award ("PUA") represents the right to receive up to 45% of the reporting person's 2021 base salary, in cash, common stock or a combination of both, as determined by the Compensation Committee (the "Committee"). The 2021 PUA is allocated in 3 equal amounts (15% of 2021 base salary) to each of 2021, 2022 and 2023 and will vest and be payable only if the stock price reaches specified price targets as of 12/31 of each year and the reporting person is employed by the Company as of the vesting and payment dates. No portion of the 2021 PUA will vest if the threshold stock price is not reached for that year. If the stock price is above the threshold level for that year, the amount of the 2021 PUA that vests and is payable will increase up to the maximum portion of the 2021 PUA allocated to that year.
  • [F5]The market price of the Company's common stock as of 12/31 of each year will be based on average daily closing prices of the common stock for the 20 trading days immediately prior to 12/31.
  • [F6]Each Time Vested Stock Appreciation Right ("TV SAR") represents the right to receive a payment measured by the increase in the fair market value of one share of common stock from the date of grant of the TV SAR (December 17, 2014) to the date of exercise of the TV SAR. The TV SAR awards vested on January 1, 2016. The TV SAR awards expire on December 17, 2024 and have an exercise price of $6.60 per share, the closing price of the common stock on the grant date.
  • [F7]Each TV SAR represents the right to receive a payment measured by the increase in the fair market value of one share of common stock from the date of grant of the TV SAR (December 12, 2013) to the date of exercise of the TV SAR. The TV SAR awards vested on January 1, 2015. The TV SAR awards expire on December 12, 2023 and have an exercise price of $5.92 per share, the closing price of the common stock on the grant date.
  • [F8]Each PV RSU represents the right to receive one share of common stock or its cash equivalent. The PV RSU will vest based on the achievement by the employee and/or the Company of certain performance targets for fiscal year 2020.
  • [F9]Each TV RSU represents the right to receive one share of common stock or its cash equivalent on the vesting date, January 1, 2021.

Documents

1 file

Issuer

ORBCOMM Inc.

CIK 0001361983

→
Entity typeother

Related Parties

1
  • filerCIK 0001587912

Filing Metadata

Form type
4
Filed
Dec 8, 7:00 PM ET
Accepted
Dec 9, 4:34 PM ET
Size
22.8 KB
View on SEC.gov