Kennefick Jonathan 4
4 · MCDERMOTT INTERNATIONAL INC · Filed Feb 20, 2018
Insider Transaction Report
Form 4
Kennefick Jonathan
SVP Proj. Execution & Delivery
Transactions
- Award
Performance Units
2018-02-16+44,386→ 44,386 totalFrom: 2018-03-05Exp: 2018-03-05→ Common Stock (44,386 underlying)
Footnotes (1)
- [F1]Each performance unit initially represented a contingent right to receive the value of one share of MDR common stock, with such performance units to be paid in the sole discretion of the Compensation Committee: (i) in shares of MDR common stock, (ii) cash equal to the fair market value of the shares of MDR common stock otherwise deliverable, or (iii) any combination thereof. The performance units were granted on March 5, 2015. On February 16, 2018, the Compensation Committee approved the Earned Award under the Grant Agreement, or 99.72% of the initial performance units granted, and also determined, in its sole discretion, to settle the performance units in cash equal to the fair market value of the shares of MDR common stock otherwise deliverable on the vesting date. Accordingly, on March 5, 2018, the vesting date, the reporting person will receive the vested performance units in cash equal to the fair market value of the shares of MDR common stock otherwise deliverable on the vesting date.