TECUMSEH PRODUCTS CO 4
4 · TECUMSEH PRODUCTS CO · Filed Sep 22, 2015
Insider Transaction Report
Form 4
KARP HAROLD M
DirectorPresident and CEO
Transactions
- Disposition to Issuer
Employee Stock Option (right to buy)
2015-09-21$1.68/sh−106,292$178,571→ 0 totalExercise: $3.32Exp: 2025-04-29→ Common Shares (106,292 underlying) - Disposition to Issuer
Deferred Stock Units
2015-09-21$5.00/sh−1,742.069$8,710→ 0 total→ Common Shares (1,742.069 underlying) - Disposition from Tender
Common Shares
2015-09-21$5.00/sh−16,718$83,590→ 0 total - Disposition to Issuer
Employee Stock Option (right to buy)
2015-09-21$1.94/sh−106,292$206,206→ 0 totalExercise: $3.06Exp: 2024-12-05→ Common Shares (106,292 underlying)
Footnotes (3)
- [F1]The option vested in three equal annual installments beginning on April 29, 2016.
- [F2]The option vested in three equal annual installments beginning on December 5, 2015.
- [F3]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.