SEC Form 4 · accession 0000899243-15-005176
TECUMSEH PRODUCTS CO · TECU
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Mitchell I Quain
Director
Period of report
Sep 21, 2015
Accepted (ET)
Sep 22, 2015 · 4:08 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000096831
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Shares | Sep 21, 2015 | U | 32,730 | $5.00 | D | 0 | 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 | — | Sep 21, 2015 | D | 10,736 | D | — | — | Common Shares | 10,736 | 0 | D |
Explanation of responses
- F1Each restricted stock unit represented a contingent right to receive one of our common shares. The restricted stock units vest on April 27, 2016, immediately before the 2016 annual meeting of shareholders if held on that date and if the outside director is serving on that date. The restricted stock units were to be settled 75% in common shares and 25% in cash within 14 days after the vesting date. In connection with the Compnay's merger, restricted stock units were cancelled in exchange for payment of the merger consideration in cash.