SEC Form 4 · accession 0001225208-17-011350
TESCO CORP · TESO
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Thomas B Sloan Jr.
Officer — Vice President
Period of report
Jun 13, 2017
Accepted (ET)
Jun 15, 2017 · 11:46 am 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 | Jun 13, 2017 | M | 500 | $4.7125 | A | 10,077 | D | |
| Common StockF1 | Jun 14, 2017 | S | 170 | $4.70 | D | 9,907 | 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 | — | Jun 13, 2017 | M | 500 | D | — | Jun 13, 2017 | Common Stock | 500 | 0 | D |
Explanation of responses
- F1The Reporting Person sold shares to cover tax obligations resulting from a RSU vesting.
- 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 RSUs vest equally over three years on the anniversary of the grant date.