4//SEC Filing
TECUMSEH PRODUCTS CO 4
Accession 0000899243-15-005187
CIK 0000096831operating
Filed
Sep 21, 8:00 PM ET
Accepted
Sep 22, 4:17 PM ET
Size
21.5 KB
Accession
0000899243-15-005187
Insider Transaction Report
Form 4
Seikel Terence C.
Director
Transactions
- Disposition to Issuer
Restricted Stock Units
2015-09-21$5.00/sh−10,736$53,680→ 0 total→ Common Shares (10,736 underlying) - Disposition to Issuer
Deferred Stock Units
2015-09-21$5.00/sh−1,528.468$7,642→ 0 total→ Common Shares (1,528.468 underlying) - Disposition to Issuer
Deferred Stock Units
2015-09-21$5.00/sh−1,390.206$6,951→ 0 total→ Common Shares (1,390.206 underlying) - Disposition to Issuer
Deferred Stock Units
2015-09-21$5.00/sh−5,846.814$29,234→ 0 total→ Comnmon Shares (5,846.814 underlying) - Disposition to Issuer
Deferred Stock Units
2015-09-21$5.00/sh−7,255.139$36,276→ 0 total→ Common Shares (7,255.139 underlying) - Disposition from Tender
Common Shares
2015-09-21$5.00/sh−21,718$108,590→ 0 total - Disposition to Issuer
Deferred Stock Units
2015-09-21$5.00/sh−3,337.505$16,688→ 0 total→ Common Shares (3,337.505 underlying) - Disposition to Issuer
Deferred Stock Units
2015-09-21$5.00/sh−15,364.917$76,825→ 0 total→ Common Shares (15,364.917 underlying)
Footnotes (2)
- [F1]Each 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.
- [F2]Deferred stock units are the economic equivalent one common share (one share of Class A common stock before the Company's 2014 recapitalization). Each deferred stock unit is fully vested when made, except that a director will forfeit his or her Account if the director's service on the Board is terminated, voluntarily or involuntarily, for any "Reason" as defined in the Company's Outside Directors' Deferred Stock Unit Plan (generally breach of policies, failure to perform duties, conviction of various crimes, embezzlement or materially injuring the Company). The deferred stock units were originally to be paid out of the Director's Account in cash within 30 days after the earlier of a Company change in Control (as defined in the plan) or the date he or she ceases to be a non-employee director for any reason. In connection with the Company's merger, deferred stock units were cancelled in exchange for payment of the merger consideration in cash.
Documents
Issuer
TECUMSEH PRODUCTS CO
CIK 0000096831
Entity typeoperating
IncorporatedMI
Related Parties
1- filerCIK 0000096831
Filing Metadata
- Form type
- 4
- Filed
- Sep 21, 8:00 PM ET
- Accepted
- Sep 22, 4:17 PM ET
- Size
- 21.5 KB