ORBCOMM (ORBC) executive Le Brun returned to the company 117,948 shares

Insider transactions reported

Christian Le Brun (executive at ORBCOMM Inc., ORBC) reported that they returned to the company 117,948 shares on Sep 1, 2021. After these transactions the filing shows 0 shares held directly.

Reporting person

Le Brun Christian

Options and other derivatives

Holdings before and after

• Common Stock: 117,948 to 0 direct
• Stock Appreciation Right: 23,000 to 0 direct
• Restricted Stock Unit (Time Vested): 16,207 to 0 direct
• Restricted Stock Unit (Performance Vested): 16,207 to 0 direct
• Performance Right (Performance Unit Award): 20,739 to 0 direct

Footnotes from the filing

1. 1. 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.
2. 2. 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.
3. 3. Upon consummation of the Merger, each time-based restricted stock unit was cancelled in exchange for a cash payment equal to $11.50.
4. 4. 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.
5. 5. Upon consummation of the Merger, these performance unit awards were cancelled in exchange for a cash payment equal to $238,500.

Transaction codes in this filing

Sale back to the company:

Code D marks a disposition back to the company under an exempt plan, as opposed to a sale in the market.

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