SEC Form 4 · accession 0001127602-17-010617
MCDERMOTT INTERNATIONAL INC · MDR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jonathan Kennefick
Officer — SVP, Proj. Exec. & Delivery
Period of report
Mar 5, 2017
Accepted (ET)
Mar 7, 2017 · 4:45 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 | 1,041 | $0.00 | A | 60,519 | D | |
| Common Stock | Mar 5, 2017 | F | 284 | $6.76 | D | 60,235 | D | |
| Common Stock | Mar 5, 2017 | M | 1,904 | $0.00 | A | 62,139 | D | |
| Common Stock | Mar 5, 2017 | F | 520 | $6.76 | D | 61,619 | D | |
| Common Stock | Mar 5, 2017 | M | 14,836 | $0.00 | A | 76,455 | D | |
| Common Stock | Mar 5, 2017 | F | 4,057 | $6.76 | D | 72,398 | D | |
| Common StockF1 | holding | — | — | — | 971 | I | 401k Plan |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance SharesF2 | — | Mar 5, 2017 | M | 1,041 | D | Mar 5, 2017 | Mar 5, 2017 | Common Stock | 1,041 | 0 | D |
| Restricted Stock UnitsF3,F4 | — | Mar 5, 2017 | M | 1,904 | D | — | — | Common Stock | 1,904 | 0 | D |
| Restricted Stock UnitsF5,F6 | — | Mar 5, 2017 | M | 14,836 | D | — | — | Common Stock | 14,836 | 14,836 | D |
Explanation of responses
- F1Based upon units held in 401K Plan and the fair market value of Common Stock as of March 3, 2017.
- F2Each 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.
- F3Each restricted stock unit represents a contingent right to receive one share of MDR common stock.
- F4On March 5, 2013, the reporting person was granted 7,616 restricted stock units, vesting in four equal annual installments beginning on the first anniversary of the grant date.
- F5Each 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.
- F6On March 5, 2015, the reporting person was granted 44,508 restricted stock units, vesting in three equal annual installments beginning on the first anniversary of the grant date.