SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
Eisenberg Marc

(Last) (First) (Middle)
2115 LINWOOD AVENUE, SUITE 100

(Street)
FORT LEE NJ 07024

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
ORBCOMM Inc. [ ORBC ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Chief Operating Officer
3. Date of Earliest Transaction (Month/Day/Year)
05/02/2007
4. If Amendment, Date of Original Filed (Month/Day/Year)
05/31/2007
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Restricted Stock Unit (Time Vested)(1)(2) 82,666 D
Restricted Stock Unit (Performance Vested)(3) 74,667 D
Common Stock 05/02/2007 M 7,868 A $2.325 21,191 D
Common Stock 05/02/2007 F 1,450 D $12.64 19,741 D
Common Stock 05/30/2007 M 20,000 A $2.325 39,741 D
Common Stock(4) 05/30/2007 F 3,286(4) D $14.185 36,455(4) D
Common Stock 05/29/2007 S 20,401 D $11.5 16,054(4) D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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 Securities Underlying Derivative Security (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: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Appreciation Right (5) (5) (5) Common Stock 130,000 130,000 D
Stock Option (Right to Buy) $2.325 05/30/2007 M 20,000 (6) (6) Common Stock 166,667 $0 146,667 D
Stock Option (Right to Buy) $2.775 (7) (7) Common Stock 33,334 33,334 D
Stock Option (Right to Buy) $3.375 (8) (8) Common Stock 33,334 33,334 D
Stock Option (Right to Buy) $4.26 (9) (9) Common Stock 33,334 33,334 D
Stock Option (Right to Buy) $2.325 (10) (10) Common Stock 33,334 33,334 D
Common Stock Warrant $2.325 05/02/2007 M 5,245 02/17/2004 11/15/2007 Common Stock 5,245 $0 0 D
Common Stock Warrant $2.325 05/02/2007 M 2,623 02/17/2004 05/17/2008 Common Stock 2,623 $0 0 D
Explanation of Responses:
1. Each Time Vested Restricted Stock Unit ("TV RSU") represents the right to receive one share of common stock. 37,333 TV RSUs vested on January 1, 2007 and are reflected in the amount of common stock listed in Table I and an additional 37,333 TV RSUs will vest on each of January 1, 2008 and December 31, 2008.
2. An additional 8,000 TV RSUs will vest on January 1, 2008.
3. Each Performance Vested Restricted Stock Unit ("PV RSU") represents the right to receive one share of common stock. One-third of the PV RSU awards will vest based on the achievement by the employee and/or the Company of certain performance targets for each of the fiscal years 2007 and 2008. 31,025 PV RSUs vested in April 2007 and are reflected in the amount of common stock listed in Table I.
4. This amendment is being filed to correct the number of shares of common stock withheld to pay the exercise price of stock options exercised on May 30, 2007, which was previously overstated.
5. Each Performance Vested Stock Appreciation Right ("PV SAR") represents the right to receive a payment measured by the increase in the fair market value of one share of common stock from the date of grant of the PV SAR to the date of exercise of the PV SAR. One-third of the PV SAR awards vested or will vest based on the achievement by the employee and/or the Company of certain performance targets for each of the fiscal years 2006, 2007 and 2008. The PV SARs expire in October, 2016 and have an exercise price equal to the initial public offering price of $11.00 per share.
6. 166,667 Options were issued on February 17, 2004. 68.75% were vested as of such date. The remaining 31.25% vest at a rate of 6.25% of the Option per quarter beginning March 31, 2004. The Options expire on February 17, 2014.
7. 33,334 Options were issued on February 17, 2004. 68.75% were vested as of such date. The remaining 31.25% vest at a rate of 6.25% of the Option per quarter beginning March 31, 2004. The Options expire on February 17, 2014.
8. 33,334 Options were issued on February 17, 2004. 50% were vested as of such date. The remaining 50% vest at a rate of 6.25% of the Option per quarter beginning March 31, 2004. The Options expire on February 17, 2014.
9. 33,334 Options were issued on February 17, 2004. 25% were vested as of such date. The remaining 75% vest at a rate of 6.25% of the Option per quarter beginning March 31, 2004. The Options expire on February 17, 2014.
10. 33,334 Options were issued on February 17, 2004 and vest at a rate of 6.25% of the Option per quarter beginning March 31, 2004. The Options expire on February 17, 2014.
/s/ Brad Franco, by power of attorney 07/17/2007
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
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