Marc Eisenberg - 01 Sep 2021 Form 4 Insider Report for ORBCOMM Inc.

Role
Chief Executive Officer, Director
Signature
/s/ Christian Le Brun, by power of attorney
Issuer symbol
N/A
Transactions as of
01 Sep 2021
Net transactions value
-$2,583,771
Form type
4
Filing time
03 Sep 2021, 06:15:46 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 -698,316 -67% 347,827 01 Sep 2021 Direct F1
transaction ORBC Common Stock Other -350,489 -100% 0 01 Sep 2021 Direct F2

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 $87,600 -30,000 -100% $2.92 0 01 Sep 2021 Common Stock 30,000 $8.58 Direct F2, F3
transaction ORBC Stock Appreciation Right Disposed to Issuer $367,500 -75,000 -100% $4.90 0 01 Sep 2021 Common Stock 75,000 $6.60 Direct F2, F3
transaction ORBC Stock Appreciation Right Disposed to Issuer $334,800 -60,000 -100% $5.58 0 01 Sep 2021 Common Stock 60,000 $5.92 Direct F2, F3
transaction ORBC Stock Appreciation Right Disposed to Issuer $280,271 -34,687 -100% $8.08 0 01 Sep 2021 Common Stock 34,687 $3.42 Direct F2, F3
transaction ORBC Stock Appreciation Right Disposed to Issuer $876,000 -100,000 -100% $8.76 0 01 Sep 2021 Common Stock 100,000 $2.74 Direct F2, F3
transaction ORBC Stock Appreciation Right Disposed to Issuer $637,600 -80,000 -100% $7.97 0 01 Sep 2021 Common Stock 80,000 $3.53 Direct F2, F3
transaction ORBC Restricted Stock Unit (Time Vested) Disposed to Issuer -81,307 -100% 0 01 Sep 2021 Common Stock 81,307 $0.000000 Direct F4
transaction ORBC Restricted Stock Unit (Performance Vested) Disposed to Issuer -81,307 -100% 0 01 Sep 2021 Common Stock 81,307 $0.000000 Direct F5
transaction ORBC Performance Right (Performance Unit Award) Disposed to Issuer -41,086 -100% 0 01 Sep 2021 Common Stock 41,086 $0.000000 Direct F6
* 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 In connection with the Merger, these shares were cancelled in exchange for the reporting persons receipt of 4,000,010.5 Class A Common units in an affiliate of Parent.
F3 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.
F4 Upon consummation of the Merger, each time-based restricted stock unit was cancelled in exchange for a cash payment equal to $11.50.
F5 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.
F6 Upon consummation of the Merger, these performance unit awards were cancelled in exchange for a cash payment equal to approximately $472,500.