SEC Form 4 · accession 0001225208-17-000284

TESCO CORP · TESO

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

Reporting owner

Officer — President & CEO · Director

Period of report

Dec 31, 2016

Accepted (ET)

Jan 4, 2017 · 2:56 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
Common Stock^F1	Dec 31, 2016	A	8,710	$0.00	A	123,494	D
Common Stock^F2	Dec 31, 2016	A	2,217	$0.00	A	125,711	D
Common Stock^F3	Jan 3, 2017	S	1,060	$8.25	D	124,651	D
Common Stock^F3	Jan 3, 2017	S	4,154	$8.25	D	120,497	D

No Table II lines on this filing.

F1These shares were issued pursuant to the vesting of shares under a performance-based restricted stock unit award granted under the Amended and Restated 2005 Tesco Corporation Incentive Plan. The performance criteria achieved was based upon the Company's total shareholder return growth versus a defined group of 14 peer companies over a one-year period.To determine the number of PSUs available at vesting, the original numbers of shares granted were multiplied by a multiplier earned, from 0-1.5 (0-150 percent) PSU - TSR (Total Shareholder Return) was redeemed with a 1.3 multiplier.
F2These shares were issued pursuant to the vesting of shares under a performance-based restricted stock unit award granted under the Amended and Restated 2005 Tesco Corporation Incentive Plan. The performance criteria achieved was based upon the Company's operating income percentage over one-year period.To determine the number of PSUs available at vesting, the original number of shares granted were multiplied by a multiplier earned, from 0-1.5 (0 - 150 percent). PSU - OI (Operating Income) was redeemed with a 0.331 multiplier.
F3The Reporting Person sold shares to cover tax obligations resulting from a PSU vesting.