Kelly Brian Timothy 4
4 · TESCO CORP · Filed Dec 19, 2017
Insider Transaction Report
Form 4
TESCO CORPTESO
Kelly Brian Timothy
VP, General Counsel, Corp. Sec
Transactions
- Disposition to Issuer
Common Stock
2017-12-15−8,364→ 0 total - Disposition to Issuer
Restricted Stock Unit
2017-12-15$3.79/sh−14,334$54,326→ 0 total→ Common Stock (14,334 underlying)
Footnotes (2)
- [F1]Disposed of pursuant to the Arrangement Agreement dated August 13, 2017 (the "Arrangement Agreement") by and among the Issuer, Nabors Industries Ltd. ("Nabors"), and Nabors Maple Acquisition Ltd. in exchange for 5,688 shares of Nabors common stock having a market value of $5.48 per share as of December 15, 2017, the closing date of the merger (the "Closing Date").
- [F2]Pursuant to the Arrangement Agreement, on the Closing Date, each restricted stock unit held by the Reporting Person subject to vesting conditions became fully vested (with performance-based restricted stock units vesting at target), was canceled, and was converted into the right to receive $3.79 in cash for each restricted stock unit, less any required withholding taxes.