SEC Form 4 · accession 0001225208-15-007264

TESCO CORP · TESO

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Director

Period of report

Mar 5, 2015

Accepted (ET)

Mar 9, 2015 · 4:39 pm EDT

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0001022705

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I	Nature of ownership
Common Stock^F1,F2	Mar 5, 2015	M	833	$0.00	A	833	D

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Restricted Stock Unit^F3,F4	—	Mar 5, 2015	M	833	D	—	Mar 5, 2017	Common Stock	833	1,667	D

F1On March 5, 2014, the Reporting Person received a grant of Restricted Stock Units ("RSUs") under the Amended and Restated 2005 Tesco Corporation Incentive Plan ("the Plan"). The RSUs vested on the anniversary date of the grant. Under the terms of the Plan, the Company redeemed the vested RSUs for an equal number of shares of the Company's common stock. The defined terms in this footnote are used throughout this Form 4.
F2The Reporting Person received shares of the Company's common stock upon the vesting and redemption of an equal number of RSUs. The Reporting Person received the shares at no cost. The market value of the shares of common stock was calculated in accordance with the Plan at US$10.72.
F3The Company redeemed RSUs from a grant received by the Reporting Person on March 5, 2014. Under the terms of the Plan, there is no conversion price.
F4The RSUs vest equally over three years on the anniversary of the grant date.