UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549INITIAL STATEMENT OF 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. | SEC 1473 (7-02) | ||
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. |
1. Title of Derivative Security (Instr. 4) |
2. Date Exercisable and Expiration Date (Month/Day/Year) |
3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) |
4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5) |
6. Nature of Indirect Beneficial Ownership (Instr. 5) |
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Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
Stock Option (Right to Buy) | Â (3) | 05/02/2015(3) | Common Stock | 50,000 | $ 4.87 | D | Â |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Le Brun Christian C/O ORBCOMM INC. 2115 LINWOOD AVENUE, SUITE 100 FORT LEE, NJ 07024 |
 |  |  EVP, General Counsel & Sec. |  |
/s/ Brad Franco, by power of attorney | 04/01/2008 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 5(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. 4,667 TV RSUs vested on January 1, 2008 and are reflected in the amount of common stock listed in Table I and an additional 4,667 TV RSUs will vest on January 1, 2009. |
(2) | Each Performance Vested Restricted Stock Unit ("PV RSU") represents the right to receive one share of common stock. 4,667 PV RSUs will vest based on the achievement by the employee and/or the Company of certain performance targets for fiscal year 2008. 2,333 PV RSUs vested in March 2008 and are reflected in the amount of common stock listed in Table I and 2,334 PV RSUs lapsed unvested in March 2008. |
(3) | 16,667 Options were vested immediately upon grant. The remaining 33,333 Options vest quarterly at a rate of 6.25% per quarter beginning with the quarter ended June 30, 2005. The Options expire on May 2, 2015. |