John J. Stolte Jr. - 01 Sep 2021 Form 4 Insider Report for ORBCOMM Inc.

Role
EVP, Technology & Operations
Signature
/s/Christian Le Brun, by power of attorney.
Issuer symbol
N/A
Transactions as of
01 Sep 2021
Net transactions value
-$1,137,988
Form type
4
Filing time
03 Sep 2021, 06:12:31 UTC
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ORBC Common Stock Disposed to Issuer -149,327 -100% 0 01 Sep 2021 Direct F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction ORBC Stock Appreciation Right Disposed to Issuer $112,700 -23,000 -100% $4.90 0 01 Sep 2021 Common Stock 23,000 $6.60 Direct F2
transaction ORBC Stock Appreciation Right Disposed to Issuer $128,340 -23,000 -100% $5.58 0 01 Sep 2021 Common Stock 23,000 $5.92 Direct F2
transaction ORBC Stock Appreciation Right Disposed to Issuer $140,148 -17,345 -100% $8.08 0 01 Sep 2021 Common Stock 17,345 $3.42 Direct F2
transaction ORBC Stock Appreciation Right Disposed to Issuer $438,000 -50,000 -100% $8.76 0 01 Sep 2021 Common Stock 50,000 $2.74 Direct F2
transaction ORBC Stock Appreciation Right Disposed to Issuer $318,800 -40,000 -100% $7.97 0 01 Sep 2021 Common Stock 40,000 $3.53 Direct F2
transaction ORBC Restricted Stock Unit (Time Vested) Disposed to Issuer -14,182 -100% 0 01 Sep 2021 Common Stock 14,182 $0.000000 Direct F2, F3
transaction ORBC Restricted Stock Unit (Performance Vested) Disposed to Issuer -14,182 -100% 0 01 Sep 2021 Common Stock 14,182 $0.000000 Direct F2, F4
transaction ORBC Performance Right (Performance Unit Award) Disposed to Issuer -21,521 -100% 0 01 Sep 2021 Common Stock $0.000000 Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Disposed of pursuant to the Agreement and Plan of Merger (the "Merger Agreement") by and among GI DI Orion Acquisition Inc., a Delaware corporation ("Parent"), GI DI Orion Merger Sub Inc., a Delaware corporation and wholly owned subsidiary of Parent, and ORBCOMM Inc., a Delaware corporation, in exchange for $11.50 per share upon the consummation of the transactions contemplated by the Merger Agreement (the "Merger"). The Merger closed on September 1, 2021.
F2 Upon consummation of the Merger, each such stock appreciation right was canceled in exchange for a cash payment equal to the difference between $11.50 and the exercise price of the stock appreciation right.
F3 Upon consummation of the Merger, each time-based restricted stock unit was cancelled in exchange for a cash payment equal to $11.50.
F4 Upon consummation of the Merger, a number of performance-vesting restricted stock units equal to the "target" level was cancelled in exchange for a cash payment equal to $11.50 and any remaining performance-vesting restricted stock units were cancelled for no consideration.
F5 Upon consummation of the Merger, these performance unit awards were cancelled in exchange for a cash payment equal to $247,500.