SEC Form 4 · accession 0001225208-17-010035
TESCO CORP · TESO
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Fred J Dyment
Director
Period of report
May 16, 2017
Accepted (ET)
May 18, 2017 · 3:17 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 | May 16, 2017 | M | 8,334 | $5.05 | A | 31,133 | D | |
| Common Stock | May 16, 2017 | M | 5,300 | $5.05 | A | 36,433 | D | |
| Common Stock | May 16, 2017 | M | 2,834 | $5.05 | A | 39,267 | 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 UnitF1,F2 | — | May 16, 2017 | M | 5,300 | D | Nov 1, 2017 | Nov 1, 2019 | Common Stock | 5,300 | 0 | D |
| Restricted Stock UnitF1,F3 | — | May 16, 2017 | M | 8,334 | D | Dec 4, 2016 | Dec 4, 2018 | Common Stock | 8,334 | 0 | D |
| Restricted Stock UnitF1,F4 | — | May 16, 2017 | M | 2,834 | D | Dec 12, 2015 | Dec 12, 2017 | Common Stock | 2,834 | 0 | D |
Explanation of responses
- F1Under 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.
- F2The restricted stock units were granted on November 1, 2016 with vesting to occur in three equal annual installments beginning November 1, 2017. Vesting of the remaining shares of this grant were accelerated by approval of the Board of Directors upon Mr. Dyment's May 16, 2017 retirement.
- F3The restricted stock units were granted on December 14, 2015 with vesting to occur in three equal annual installments beginning December 14, 2016. Vesting of the remaining shares of this grant were accelerated by approval of the Board of Directors upon Mr. Dyment's May 16, 2017 retirement.
- F4The restricted stock units were granted on December 12, 2014 with vesting to occur in three equal annual installments beginning December 12, 2015. Vesting of the remaining shares of this grant were accelerated by approval of the Board of Directors upon Mr. Dyment's May 16, 2017 retirement.