SEC Form 4 · accession 0001225208-16-042874
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
Dec 6, 2016
Accepted (ET)
Dec 8, 2016 · 2:05 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 | Dec 6, 2016 | M | 5,544 | $8.475 | A | 126,212 | D | |
| Common StockF2,F3 | Dec 6, 2016 | S | 6,492 | $8.16 | D | 119,720 | D | |
| Common StockF4,F5 | Dec 7, 2016 | S | 1,502 | $8.60 | D | 118,218 | D | |
| Common StockF6,F7 | Dec 7, 2016 | S | 18,408 | $8.5025 | D | 99,810 | D | |
| Common StockF6,F8 | Dec 8, 2016 | S | 4,042 | $8.5117 | D | 95,768 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitF9,F10 | — | Dec 6, 2016 | M | 5,544 | D | — | Dec 6, 2016 | Common Stock | 5,544 | 0 | D |
Explanation of responses
- F1The Reporting Person received shares of common stock of the Company upon the vesting and redemption of an equal number of RSUs. The Reporting Person received the shares at no cost. The market value of the shares of common stock was calculated in accordance with the Amended and Restated 2005 Tesco Corporation Incentive Plan at US$ 8.475.
- F10The RSUs vest equally over three years on the anniversary of the grant date.
- F2The Reporting Person sold shares to cover tax obligations resulting from a RSU vesting on December 5, 2016.
- F3The shares were sold at the price of US$ 8.16 per share.
- F4The Reporting Person sold shares to cover tax obligations resulting from a RSU vesting on December 6, 2016.
- F5The shares were sold at the price of US$ 8.60 per share.
- F6The shares were sold pursuant to a 10b5-1 plan dated September 12, 2016.
- F7The shares were sold in six blocks with prices of US$ 8.4000, US$ 8.4500, US$ 8.5000, US$ 8.5500, US$ 8.6000, US$ 8.6500.
- F8The shares were sold in four blocks with prices of US$ 8.4500, US$ 8.5000, US$ 8.5500, US$ 8.6000.
- F9Under the terms of the Amended and Restated 2005 Tesco Corporation Incentive Plan, there is no conversion price. Each RSU represents a contingent right to receive one share of TESO common stock.