KVH Industries (KVHI) Form 4 KVH INDUSTRIES / Stephen H Deckoff ownership change

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^*

Deckoff Stephen H

(Last) (First) (Middle)

5330 YACHT HAVEN GRANDE

SUITE 100

(Street)

ST. THOMAS VI 00802

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
KVH INDUSTRIES INC \DE\ [ KVHI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/08/2023

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	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
Common Stock	08/08/2023		A(1)		8,601	A	$0	8,601	D(2)
Common Stock								3,298,597	I(3)(4)	See footnotes (3) & (4)(3)(4)

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

1. Name and Address of Reporting Person^*

Deckoff Stephen H

(Last) (First) (Middle)

5330 YACHT HAVEN GRANDE

SUITE 100

(Street)

ST. THOMAS VI 00802

(City) (State) (Zip)

1. Name and Address of Reporting Person^*

BLACK DIAMOND CAPITAL MANAGEMENT, L.L.C.

(Last) (First) (Middle)

2187 ATLANTIC STREET

9TH FLOOR

(Street)

STAMFORD CT 06902

(City) (State) (Zip)

Explanation of Responses:

1. Restricted stock grant for appointment to KVH's board of directors issued pursuant to the terms & conditions of KVH Industries' 2016 Amended and Restated Equity & Incentive Plan. Restricted stock will vest in four installments on each of 11/8/2023, 2/8/2024, 5/8/2024, and 8/8/2024, provided Mr. Deckoff is still a board member of KVH Industries, Inc. on each vesting date.

2. These shares of restricted stock are held of record by Mr. Deckoff for the benefit of Black Diamond Capital Management, L.L.C. ("Black Diamond") and/or certain Black Diamond investment vehicles managed by Black Diamond (the "Black Diamond vehicles") and will be transferred to Black Diamond or the Black Diamond vehicles upon vesting and settlement. Mr. Deckoff disclaims beneficial ownership of these shares, except to the extent of his pecuniary interest therein.

3. These shares of Common Stock ("Shares") are held directly by the Black Diamond vehicles. Black Diamond exercises investment discretion on behalf of investment advisory affiliates that serve as investment advisers to the Black Diamond vehicles. Mr. Deckoff is the Managing Principal of Black Diamond.

4. Each of the Reporting Persons disclaims beneficial ownership over the Shares, except to the extent of its or his pecuniary interest therein, and this statement shall not be construed as an admission that such Reporting Person is the beneficial owner of any Shares for purposes of Section 16 of the Exchange Act or for any other purpose.

	Stephen Deckoff	08/10/2023
	** 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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