SEC Form 4 · accession 0001349093-15-000010
MCDERMOTT INTERNATIONAL INC · MDR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Scott V Cummins
Officer — SVP Commerical
Period of report
Mar 5, 2015
Accepted (ET)
Mar 9, 2015 · 4:57 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 | Mar 5, 2015 | M | 2,885 | $0.00 | A | 73,814 | D | |
| Common Stock | Mar 5, 2015 | F | 1,009 | $3.37 | D | 72,805 | D | |
| Common Stock | Mar 5, 2015 | M | 47,619 | $0.00 | A | 120,424 | D | |
| Common Stock | Mar 5, 2015 | F | 16,666 | $3.37 | D | 103,758 | D | |
| Common Stock | Mar 5, 2015 | M | 5,952 | $0.00 | A | 109,710 | D | |
| Common Stock | Mar 5, 2015 | F | 2,083 | $3.37 | D | 107,627 | 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 UnitsF1,F2 | — | Mar 5, 2015 | M | 2,885 | D | — | — | Common Stock | 2,885 | 0 | D |
| Restricted Stock UnitsF1,F3 | — | Mar 5, 2015 | M | 47,619 | D | — | — | Common Stock | 47,619 | 0 | D |
| Restricted Stock UnitsF1,F4 | — | Mar 5, 2015 | M | 5,952 | D | — | — | Common Stock | 5,952 | 11,904 | D |
| Restricted Stock UnitsF5,F6 | — | Mar 5, 2015 | A | 118,692 | A | — | — | Common Stock | 118,692 | 118,692 | D |
Explanation of responses
- F1Each restricted stock unit represents a contingent right to receive one share of MDR common stock.
- F2On March 5, 2012, the reporting person was granted 8,655 restricted stock units, vesting in three equal annual insallments beginning on the first anniversary of the grant date.
- F3On March 5, 2013, the reporting person was granted 47,619 restricted stock units, vesting 100% on the second anniversary of the grant date.
- F4On March 5, 2013, the reporting person was granted 23,808 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 118,692 restricted stock units, vesting in three equal annual installments beginning on the first anniversary of the grant date.