Kennefick Jonathan 4
4 · MCDERMOTT INTERNATIONAL INC · Filed May 14, 2018
Insider Transaction Report
Form 4
Kennefick Jonathan
SVP Proj. Execution & Delivery
Transactions
- Award
Restricted Stock Units
2018-05-10+19,783→ 19,783 total→ Common Stock (19,783 underlying) - Award
Restricted Stock Units
2018-05-10+4,529→ 4,529 total→ Common Stock (4,529 underlying)
Footnotes (3)
- [F1]The restricted stock units were originally granted to the reporting person as performance units on February 26, 2016. On March 1, 2018, the Compensation Committee approved an amendment to the February 26, 2016 form of Performance Unit Award Agreement to provide that 100% of the initial performance units granted would be converted into time-vested restricted stock units vesting on the third anniversary of the original grant date, effective upon the closing of the Company's combination with Chicago Bridge & Iron Company, N.V., which occured May 10, 2018. Each restricted stock unit represents a contingent right to receive the value of one share of MDR common stock, with such restricted stock units to be paid, in the sole discretion of the Compensation Committee: (i) in shares of MDR stock (ii) cash equal to the fair market value of the shares of MDR common stock otherwise deliverable, or (iii) any combination thereof.
- [F2]The restricted stock units will vest 100% on the third anniversary of the original grant date.
- [F3]The restricted stock units were originally granted to the reporting person as performance units on February 28, 2017. On March 1, 2018, the Compensation Committee approved an amendment to the February 28, 2017 form of Performance Unit Award Agreement to provide that 100% of the initial performance units granted would be converted into time-vested restricted stock units vesting on the third anniversary of the original grant date, effective upon the closing of the Company's combination with Chicago Bridge & Iron Company, N.V., which occurred May 10, 2018. Each restricted stock unit represents a contingent right to receive the value of one share of MDR common stock, with such restricted stock units to be paid, in the sole discretion of the Compensation Committee: (i) in shares of MDR stock (ii) cash equal to the fair market value of the shares of MDR common stock otherwise deliverable, or (iii) any combination thereof.