SEC Form 4 · accession 0001225208-16-043141

TESCO CORP · TESO

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

A later amendment supersedes this filing — read the amendment. The figures below are kept as originally reported (version chain, not an overwrite).

Reporting owner

Officer — President & CEO · Director

Period of report

Dec 12, 2016

Accepted (ET)

Dec 14, 2016 · 11:05 am 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
Common Stock^F1	Dec 12, 2016	M	11,533	$9.225	A	107,301	D
Common Stock^F2,F3	Dec 13, 2016	S	3,321	$8.80	D	103,980	D
Common Stock^F4,F5	Dec 13, 2016	S	8,212	$8.8002	D	95,768	D

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Restricted Stock Unit^F6,F7	—	Dec 12, 2016	M	11,533	D	—	Dec 12, 2017	Common Stock	11,533	11,534	D

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.
F2The Reporting Person sold shares to cover tax obligations resulting from a RSU vesting.
F3The shares were sold in two blocks with prices of US$ 8.80 and US$ 8.7186.
F4The shares were sold pursuant to a 10b5-1 plan dated September 12, 2016.
F5The shares were sold in six blocks with prices of US$ 8.7500, US$ 8.8000, US$ 8.8250, US$ 8.8500, US$ 8.8750, US$ 8.9000.
F6Under 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.
F7The Restricted Stock Units (RSUs) vest equally over three years beginning on the anniversary of the grant date.