SEC Form 4 · accession 0001225208-16-043076
TESCO CORP · TESO
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael W Sutherlin
Director
Period of report
Dec 12, 2016
Accepted (ET)
Dec 13, 2016 · 4:13 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 12, 2016 | M | 3,700 | $9.225 | A | 52,166 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitF2,F3 | — | Dec 12, 2016 | M | 3,700 | D | Dec 12, 2015 | Dec 12, 2017 | Common Stock | 3,700 | 3,700 | D |
Explanation of responses
- F1The Reporting Person received shares of common stock of the Company upon the vesting and redemption of an equal number of RSUs. The Reporting Person received the shares at no cost. The market value of the shares of common stock was calculated in accordance with the Amended and Restated 2005 Tesco Corporation Incentive Plan at US$ 9.225.
- F2Under 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.
- F3The Restricted Stock Units (RSUs) vest equally over three years beginning on the anniversary of the grant date.