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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Stock Options (2) | $ 4.26 | 07/30/2007 | J | 10,831 | (3) | (3) | Common Stock | 10,831 | $ 0 | 14,167 | D | ||||
Stock Options (2) | $ 4.26 | 08/06/2007 | D | 14,167 | (4) | (4) | Common Stock | 14,167 | $ 0 | 0 | D | ||||
Stock Options | $ 4.26 | 08/06/2007 | A | 14,167 | (4) | 07/30/2008 | Common Stock | 14,167 | $ 0 | 14,167 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Hume Emmett 48 HAMLET COURT SKILLMAN, NJ 08558 |
Former officer |
/s/ Emmett Hume | 08/17/2007 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | Each Time Vested Restricted Stock Unit ("TV RSU") represents the right to receive one share of common stock. Mr. Hume's unvested TV RSUs lapsed on July 30, 2007. |
(2) | 83,334 Options were issued on December 3, 2004, of which 16,667 Options vested on such date and the remaining 66,667 Options vested at a rate of 4,167 per quarter beginning December 31, 2004. |
(3) | 10,831 unvested options lapsed unexercised upon termination of Mr. Hume's employment with the Company on Juy 30, 2007. |
(4) | Pursuant to a Separation Agreement dated July 30, 2007 between Mr. Hume and ORBCOMM Inc., 10,000 unvested stock options vested and all vested stock options will be exercisable until July 30, 2008. As a result of the amendment to the outstanding options, a total of 14,167 vested options were deemed cancelled and a total of 14,167 replacement options were deemed granted. |