SEC Form 4 · accession 0001225208-16-035085

TESCO CORP · TESO

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

Reporting owner

Officer — Vice President

Period of report

Jun 13, 2016

Accepted (ET)

Jun 15, 2016 · 4:57 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	Jun 13, 2016	M	500	$0.00	A	2,833	D

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Restricted Stock Unit^F3,F4	—	Jun 13, 2016	M	500	D	—	Jun 13, 2017	Common Stock	500	500	D

F1On June 13, 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 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$6.80.
F3The Company redeemed RSUs from a grant received by the Reporting Person on June 13, 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.