SEC Form 4 · accession 0001225208-15-021954

TESCO CORP · TESO

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

Reporting owner

Officer — Vice President

Period of report

Dec 4, 2015

Accepted (ET)

Dec 8, 2015 · 5:16 pm EST

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0001022705

Table I — non-derivative securities

No Table I lines on this filing.

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Option to Purchase^F2,F3	$8.52	Dec 4, 2015	A	16,200	A	Dec 4, 2016	Dec 4, 2022	Common Stock	16,200	16,200	D
Restricted Stock Unit^F5,F4,F3	—	Dec 4, 2015	A	22,000	A	Dec 4, 2016	Dec 4, 2018	Common Stock	22,000	22,000	D

F1All awards were granted (i) on December 4, 2015 to the Reporting Person as a portion of his compensation for serving as an officer or director of the Company; and (ii) pursuant to the terms of the Amended and Restated Tesco Corporation 2005 Incentive Plan, which is exempt under Rule 16b-3(d). The vesting of all awards is contigent upon the Reporting Person's continued employment by or service as a Director to the Company.
F2This number represents the stock options (Options) granted to the Reporting Person as a portion of his compensation for serving as an officer of the Company. These Options are subject to a three-year vesting period.
F3The Options and RSUs vest equally over three years beginning December 4, 2016.
F4Each Restricted Stock Unit (RSU) may be redeemed, at the Company's discretion, for one share of the Company's common stock or its cash equivalent.
F5This number represents the RSUs granted. These RSUs are subject to a three year vesting period. RSUs are calculated on a one-for-one share basis. Each RSU may be redeemed, at the Company's discretion, for one share of the Company's common stock or its cash equivalent.