SEC Form 4 · accession 0001404409-16-000116

TECO ENERGY INC · TE

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

Reporting owner

John B Ramil

Officer — President and CEO · Director

Period of report

Jul 1, 2016

Accepted (ET)

Jul 5, 2016 · 4:16 pm EDT

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0000350563

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	D/I	Nature of ownership
Common Stock^F1	Jul 1, 2016	D	463,983	$27.55	D	D
Common Stock^F1	Jul 1, 2016	D	11,676	$27.55	D	I	By Savings Plan
Common Stock^F2,F1	Jul 1, 2016	D	4,791	$27.55	D	I	By Son

Table II — derivative securities

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Restricted Stock Units^F3	—	Jul 1, 2016	D	100,696	D	—	—	Common Stock	100,696	0	D

Explanation of responses

F1Reflects the disposition of shares and restricted shares pursuant to the Agreement and Plan of Merger by and among TECO Energy, Inc., Emera Inc. and Emera US Inc. (the "Merger Agreement"). Pursuant to the Merger Agreement, as of the effective date of the merger (July 1, 2016), the outstanding shares of TECO common stock were cancelled and converted automatically into the right to receive (without interest, and less any applicable withholdings) $27.55 in cash per share (the "Per-Share Merger Consideration"). Pursuant to the Merger Agreement, with respect to performance-based awards, any performance goals and bonus multipliers were deemed achieved at the maximum level.
F2The reporting person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
F3Pursuant to the Merger Agreement, as of the closing date, the Restricted Stock Units were cancelled and converted into the right to receive (i) a pro-rated lump-sum cash payment (paid as promptly as practicable following the closing date, less any applicable witholdings) and (ii) a cash service award subject to the same terms and conditions (including service-based vesting, but not performance-based vesting) applicable to the corresponding Restricted Stock Unit immediately prior to the closing date. Pursuant to the Merger Agreement, with respect to performance-based awards, any performance goals and bonus multipliers were deemed achieved at the maximum level.