SEC Form 4 · accession 0001209191-15-037906
TECUMSEH PRODUCTS CO · TECU
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Mitchell I Quain
Director
Period of report
Apr 29, 2015
Accepted (ET)
May 1, 2015 · 4:19 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 SharesF2 | Apr 29, 2015 | M | 10,307 | — | A | 35,307 | D | |
| Common Shares | Apr 29, 2015 | D | 2,577 | $3.32 | D | 32,730 | 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 | — | Apr 29, 2015 | A | 10,736 | A | — | — | Common Shares | 10,736 | 10,736 | D |
| Restricited Stock UnitsF2 | — | Apr 29, 2015 | M | 10,307 | D | Apr 29, 2015 | Apr 29, 2015 | Common Shares | 10,307 | 0 | D |
Explanation of responses
- F1Each restricted stock unit represents 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 are to be settled 75% in common shares and 25% in cash within 14 days after the vesting date.
- F2Each restricted stock unit represented a contingent right to receive one of our common shares. The restricted stock units vested on April 29, 2015, immediately before the 2015 annual meeting of shareholders, and are to be settled 75% in common shares and 25% in cash within 14 days after the vesting date.