SEC Form 4 · accession 0001127602-17-010615
MCDERMOTT INTERNATIONAL INC · MDR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Hugh Cuthbertson
Officer — Vice President, Asia
Period of report
Mar 5, 2017
Accepted (ET)
Mar 7, 2017 · 4:40 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000708819
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Mar 5, 2017 | M | 813 | $0.00 | A | 77,176 | D | |
| Common Stock | Mar 5, 2017 | F | 284 | $6.76 | D | 76,892 | D | |
| Common Stock | Mar 5, 2017 | M | 1,785 | $0.00 | A | 78,677 | D | |
| Common Stock | Mar 5, 2017 | F | 624 | $6.76 | D | 78,053 | D | |
| Common Stock | Mar 5, 2017 | M | 19,782 | $0.00 | A | 97,835 | D | |
| Common Stock | Mar 5, 2017 | F | 6,923 | $6.76 | D | 90,912 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance SharesF1 | — | Mar 5, 2017 | M | 813 | D | Mar 5, 2017 | Mar 5, 2017 | Common Stock | 813 | 0 | D |
| Restricted Stock UnitsF2,F3 | — | Mar 5, 2017 | M | 1,785 | D | — | — | Common Stock | 1,785 | 0 | D |
| Restricted Stock UnitsF4,F5 | — | Mar 5, 2017 | M | 19,782 | D | — | — | Common Stock | 19,782 | 19,782 | D |
Explanation of responses
- F1Each performance share initially represented a contingent right to receive one share of MDR common stock. On March 5, 2017, the vesting date, the reporting person received one share of MDR common stock for each vested performance share.
- F2Each restricted stock unit represents a contingent right to receive one share of MDR common stock.
- F3On March 5, 2013, the reporting person was granted 7,140 restricted stock units, vesting in four equal annual installments beginning on the first anniversary of the grant date.
- F4Each restricted stock unit represents a contingent right to receive the value of one share of MDR common stock, with such restricted stock units to be paid, in the sole discretion of the Compensation Committee: (i) in shares of MDR common stock, (ii) cash equal to the fair market value of the shares of MDR common stock otherwise deliverable, or (iii) any combination thereof.
- F5On March 5, 2015, the reporting person was granted 59,346 restricted stock units, vesting in three equal annual installments beginning on the first anniversary of the grant date.