SEC Form 4 · accession 0001209191-15-037914
TECUMSEH PRODUCTS CO · TECU
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Harold M Karp
Officer — President and CEO · Director
Period of report
Apr 29, 2015
Accepted (ET)
May 1, 2015 · 4:22 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 | 15,625 | — | A | 20,625 | D | |
| Common Shares | Apr 29, 2015 | D | 3,907 | $3.32 | D | 16,718 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option (right to buy)F1 | $3.32 | Apr 29, 2015 | A | 106,292 | A | — | Apr 29, 2025 | Common Shares | 106,292 | 106,292 | D |
| Restricited Stock UnitsF2 | — | Apr 29, 2015 | M | 15,625 | D | Apr 29, 2015 | Apr 29, 2015 | Common Shares | 15,625 | 0 | D |
Explanation of responses
- F1The option vests in three equal annual installments beginning on April 29, 2016.
- 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.