Please wait



Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Checkbox not checked   Rule 13d-1(b)
Checkbox not checked   Rule 13d-1(c)
Checkbox not checked   Rule 13d-1(d)


SCHEDULE 13D/A 0001282197 XXXXXXXX LIVE 2 Common Stock, par value $0.01 per share 08/22/2025 false 0001007587 482738101 KVH Industries, Inc. 75 Enterprise Center Middletown RI 02842 Matthew Kane (203) 552-0888 2187 Atlantic Street 9th Floor Stamford CT 06902 0001282197 BDCM CT, L.L.C. OO DE 0 3410164 0 3410164 3410164 N 17.6 IA OO Y Black Diamond Holdings, LLLP OO VI 0 3410164 0 3410164 3410164 N 17.6 IA PN 0001486844 Deckoff Stephen H OO X1 0 3410164 0 3410164 3410164 N 17.6 IN HC Common Stock, par value $0.01 per share KVH Industries, Inc. 75 Enterprise Center Middletown RI 02842 This Amendment No. 2 to Schedule 13D ("Amendment No. 2") is being filed by the undersigned, pursuant to Section 240.13d-2(a), to amend and supplement the Schedule 13D filed with the U.S. Securities and Exchange Commission (the "SEC") on August 26, 2022 (the "Original Schedule 13D"), as amended by Amendment No. 1 filed with the SEC on February 7, 2023 (collectively, the "Schedule 13D"), with respect to the Common Stock, par value $0.01 per share (the "Shares"), of KVH Industries, Inc. (the "Company"), whose principal executive offices are located at 75 Enterprise Center, Middletown, RI 02842. All capitalized terms contained herein but not otherwise defined shall have the meanings ascribed to such terms in the Schedule 13D. Except as specifically provided herein, this Amendment No. 2 does not modify any of the information previously reported in the Schedule 13D. Item 2 of the Schedule 13D is hereby amended and restated in its entirety as follows: This statement is filed by BDCM CT, L.L.C. ("BDCM CT" and formerly Black Diamond Capital Management, L.L.C.), Black Diamond Holdings, LLLP ("Black Diamond"), and Stephen H. Deckoff ("Mr. Deckoff"). BDCM CT, Black Diamond, and Mr. Deckoff are each referred to as a "Reporting Person" and collectively as the "Reporting Persons." The agreement among the Reporting Persons to file this statement jointly in accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, is attached as Exhibit D to this Schedule 13D. The principal business address of BDCM CT is 2187 Atlantic Street, 9th Floor, Stamford, CT 06902. The principal business address of Black Diamond and Mr. Deckoff is 5330 Yacht Haven Grande, Suite 100, Box 35, St. Thomas, U.S. Virgin Islands 00802. This Amendment No. 2 is being filed because, effective August 22, 2025, Black Diamond replaced BDCM CT as the primary registered investment adviser that exercises investment discretion on behalf of investment advisory affiliates that serve as investment advisers to Black Diamond investment vehicles for whose accounts the Shares reported herein are held. Mr. Deckoff is the Managing Principal of Black Diamond. Black Diamond and Mr. Deckoff (collectively, the "Continuing Reporting Persons") accordingly may be deemed to be the beneficial owners of all of the Shares reported herein. Upon filing of this Amendment No. 2, BDCM CT will no longer be a Reporting Person on this Schedule 13D. None of the Reporting Persons has, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). None of the Reporting Persons has, during the last five years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and, as a result of such proceeding, was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. BDCM CT is a Delaware limited liability company. Black Diamond is a U.S. Virgin Islands limited liability limited partnership. Mr. Deckoff is a citizen of the United States of America. Item 5 of the Schedule 13D is hereby amended and supplemented as follows: As of the date hereof, the Continuing Reporting Persons may be deemed to beneficially own 3,410,164 Shares, or approximately 17.6% of the Shares outstanding. This figure is based upon information received from the Company on August 26, 2025, indicating that, as of August 26, 2025, there were 19,356,559 Shares outstanding. The Continuing Reporting Persons may be deemed to share the power to vote or direct the voting of, and the power to dispose or direct the disposition of, the 3,410,164 Shares. On August 21, 2025, the Company issued 13,637 shares of restricted stock to Mr. Deckoff as consideration for his service on the Board. The restricted stock will vest in four installments on each of November 21, 2025, February 21, 2026, May 21, 2026, and August 21, 2026, provided Mr. Deckoff is still a member of the Board on each vesting date. Item 6 of the Schedule 13D is hereby amended and supplemented as follows: The response to Item 2(a) of this Amendment No. 2 is incorporated by reference herein. Item 7 of the Schedule 13D is hereby amended and supplemented as follows: Exhibit Description Exhibit D: Joint Filing Agreement, dated August 26, 2025 BDCM CT, L.L.C. /s/ Stephen H. Deckoff Stephen H. Deckoff, Managing Principal 08/26/2025 Black Diamond Holdings, LLLP /s/ Stephen H. Deckoff Stephen H. Deckoff, Managing Principal 08/26/2025 Deckoff Stephen H /s/ Stephen H. Deckoff Stephen H. Deckoff, Managing Principal 08/26/2025