SEC Form 4 · accession 0001225208-16-029551
TESCO CORP · TESO
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
John Dielwart
Director
Period of report
Mar 5, 2016
Accepted (ET)
Mar 9, 2016 · 5:33 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,F2,F3 | Mar 5, 2016 | M | 833 | $0.00 | A | 4,500 | 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 UnitF2,F4,F5 | — | Mar 5, 2016 | M | 833 | D | — | Mar 5, 2017 | Common Stock | 833 | 834 | D |
Explanation of responses
- F1On March 5, 2014, the Reporting Person received a grant of Restricted Stock Units ("RSUs") under the Amended and Restated 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 the Company's common stock. The defined terms in this footnote are used in other footnotes throughout this Form 4.
- F2The vest date occurred on Saturday, March 5, 2016; therefore, the deemed vest date was Monday, March 7, 2016.
- F3The 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 $7.37.
- F4The 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.
- F5The RSUs vest equally over three years on the anniversary of the grant date.