Denise W. Gibson - 01 Sep 2021 Form 4 Insider Report for ORBCOMM Inc. (ORBC)

Role
Director
Signature
/s/ Christian Le Brun, by power of attorney
Issuer symbol
ORBC
Transactions as of
01 Sep 2021
Transactions value $
$0
Form type
4
Filing time
03 Sep 2021, 06:13:23
Next filing
02 Apr 2025
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 -38.5K -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 Restricted Stock Units (Time Based) Disposed to Issuer -14.6K -100% 0 01 Sep 2021 Common Stock 14.6K $0.00 Direct F2
* 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 time-based restricted stock unit was cancelled in exchange for a cash payment equal to $11.50.