SEC Form 4 · accession 0001127602-17-010893
MCDERMOTT INTERNATIONAL INC · MDR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Stuart Spence
Officer — EVP and CFO
Period of report
Mar 6, 2017
Accepted (ET)
Mar 8, 2017 · 5:37 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 6, 2017 | M | 81,081 | $0.00 | A | 310,067 | D | |
| Common Stock | Mar 6, 2017 | D | 40,540 | $6.86 | D | 269,527 | D | |
| Common Stock | Mar 6, 2017 | F | 17,007 | $6.86 | D | 252,520 | D |
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 6, 2017 | M | 81,081 | D | Mar 6, 2017 | Mar 6, 2017 | Common Stock | 81,081 | 0 | D |
Explanation of responses
- F1This disposition to the issuer reflects the settlement of one-half of the performance shares in cash, as determined in the sole discretion of the Compensation Committee.
- F2Each performance share vested on March 6, 2017, and was 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. The Compensation Committee, in its sole discretion, determined to settle half of the performance shares in shares and half in cash.