SEC Form 4 · accession 0001225208-16-023256
TESCO CORP · TESO
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Mihial Dean Ferris
Officer — SVP, Gen Counsel & Corp Sec
Period of report
Dec 31, 2015
Accepted (ET)
Jan 4, 2016 · 5:56 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 Stock | Dec 31, 2015 | M | 8,550 | $0.00 | A | 22,616 | D | |
| Common Stock | Dec 31, 2015 | M | 4,418 | $0.00 | A | 27,034 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance Stock Units - OIF3,F2 | — | Dec 31, 2015 | M | 4,418 | D | Dec 31, 2015 | Dec 31, 2015 | Common Stock | 6,627 | 0 | D |
| Performance Stock Units - TSRF4,F2 | — | Dec 31, 2015 | M | 8,550 | D | Dec 31, 2015 | Dec 31, 2015 | Common Stock | 12,825 | 0 | D |
Explanation of responses
- F1All awards were granted pursuant to the terms of the Amended and Restated Tesco Corporation 2005 Incentive Plan, which is exempt under Rule 16b-3(d).
- F2The Reporting Person received shares of the Company's common stock upon the vesting and redemption of an equal number of PSU awards. 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 $7.29.
- F3To determine the number of PSUs available at vesting, the original shares granted were multiplied by a multiplier earned, from 0-1.5 (0-150%). PSU-OI awards were redeemed with a 0.775 multiplier.
- F4To determine the number of PSUs available at vesting, the original shares granted were multiplied by a multiplier earned, from 0-1.5 (0-150%). PSU-TSR awards were redeemed with a 1.5 multiplier.