SEC Form 4 · accession 0001127602-17-026646
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
Aug 25, 2017
Accepted (ET)
Aug 29, 2017 · 4:22 pm EDT
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 | Aug 25, 2017 | M | 58,559 | $0.00 | A | 311,079 | D | |
| Common StockF1 | Aug 25, 2017 | D | 58,559 | $5.90 | D | 252,520 | D | |
| Common Stock | Aug 25, 2017 | M | 27,027 | $0.00 | A | 279,547 | D | |
| Common StockF1 | Aug 25, 2017 | D | 27,027 | $5.90 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF2,F3 | — | Aug 25, 2017 | M | 58,559 | D | — | — | Common Stock | 58,559 | 0 | D |
| Restricted Stock UnitsF2,F4 | — | Aug 25, 2017 | M | 27,027 | D | — | — | Common Stock | 27,027 | 0 | D |
Explanation of responses
- F1This disposition to the issuer reflects the settlement of 100% of the restricted stock units in cash, as determined in the sole discretion of the Compensation Committee.
- F2Each 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.
- F3On August 25, 2014, the reporting person was granted 175,675 restricted stock units, vesting in three equal annual installments beginning on the first anniversary of the grant date.
- F4On August 25, 2014, the reporting person was granted 81,081 restricted stock units, vesting in three equal annual installments beginning on the first anniversary of the grant date.