SEC Form 4 · accession 0001225208-15-020661
TESCO CORP · TESO
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Fernando Rafael Assing
Officer — President & CEO · Director
Period of report
Nov 7, 2015
Accepted (ET)
Nov 10, 2015 · 4:42 pm EST
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 StockF1,F3 | Nov 7, 2015 | M | 3,334 | $0.00 | A | 60,396 | D | |
| Common StockF4,F3 | Nov 8, 2015 | M | 4,933 | $0.00 | A | 65,329 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitF6,F7 | — | Nov 7, 2015 | M | 3,334 | D | — | Nov 7, 2016 | Common Stock | 3,334 | 3,333 | D |
| Restricted Stock UnitF8,F7 | — | Nov 8, 2015 | M | 4,933 | D | — | Nov 8, 2015 | Common Stock | 4,933 | 0 | D |
Explanation of responses
- F1The vest date occurred on Saturday, November 7, 2015; therefore, the deemed vest date was Monday, November 9, 2015.
- F2On November 7, 2013, the Reporting Person received a grant of Restricted Stock Units (RSUs) under the Amended and Restated 2005 Tesco Corporation Incentive 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 common stock of the Company. The defined terms in this footnote are used in other footnotes throughout this Form 4.
- F3The Reporting Person received shares of common stock of the Company 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$8.35.
- F4The vest date occurred on Sunday, November 8, 2015; therefore, the deemed vest date was Monday, November 9, 2015.
- F5On November 8, 2012, the Reporting Person received a grant of Restricted Stock Units (RSUs) under the Amended and Restated 2005 Tesco Corporation Incentive 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 common stock of the Company. The defined terms in this footnote are used in other footnotes throughout this Form 4.
- F6The Company redeemed RSUs from a grant received by the Reporting Person on November 7, 2013. Under the terms of the Plan, there is no conversion price.
- F7The RSUs vest equally over three years on the anniversary of the grant date.
- F8The Company redeemed RSUs from a grant received by the Reporting Person on November 8, 2012. Under the terms of the Plan, there is no conversion price.