4//SEC Filing
OKRENT DANIEL 4
Accession 0001140361-12-023405
CIK 0000927355other
Filed
May 6, 8:00 PM ET
Accepted
May 7, 5:38 PM ET
Size
28.1 KB
Accession
0001140361-12-023405
Insider Transaction Report
Form 4
OKRENT DANIEL
Director
Transactions
- Exercise/Conversion
Common Stock
2012-05-03+2,813→ 51,852 total(indirect: Rebecca Okrent) - Exercise/Conversion
Common Stock
2012-05-03+938→ 52,790 total(indirect: Rebecca Okrent) - Tax Payment
Common Stock
2012-05-03−1,763→ 52,527 total(indirect: Rebecca Okrent) - Exercise/Conversion
Performance Share Unit
2012-05-03−1,800→ 14,436 total→ Common Stock (1,800 underlying) - Exercise/Conversion
Performance Share Unit
2012-05-03−2,813→ 11,623 total→ Common Stock (2,813 underlying) - Exercise/Conversion
Performance Share Unit
2012-05-03−938→ 10,685 total→ Common Stock (938 underlying) - Exercise/Conversion
Restricted Share Unit
2012-05-03−1,500→ 9,185 total→ Common Stock (1,500 underlying) - Exercise/Conversion
Common Stock
2012-05-03+1,800→ 49,039 total(indirect: Rebecca Okrent) - Exercise/Conversion
Common Stock
2012-05-03+1,500→ 54,290 total(indirect: Rebecca Okrent) - Award
Restricted Share Unit
2012-05-03+3,350→ 12,535 total→ Common Stock (3,350 underlying)
Footnotes (11)
- [F1]A Performance Share Unit, sometimes referred to as a Performance Stock Unit or PSU, represents the conditional right to receive one share of Common Stock. PSUs granted in April 2008 resulted in the earning, with respect to the fiscal year ended March 2009 and based on the extent to which certain performance criteria were satisfied during fiscal year 2009, of the right to receive 7,200 shares of Common Stock. Once earned, the PSUs vest and are paid through the issuance of shares of Common Stock in four approximately equal annual installments commencing on or about May 1, 2009, 2010, 2011 and 2012, subject to the reporting person's continued employment or association with the Issuer on the date such shares of Common Stock are to be issued.
- [F10]A Restricted Share Unit, sometimes referred to as a Restricted Stock Unit or RSU, represents the conditional right to receive one share of Common Stock. RSUs are subject to time vesting but not performance vesting. These RSUs will vest and the underlying shares of Common Stock will be issued in equal annual installments of 1,500 shares commencing on or about May 1, 2012, 2013, 2014 and 2015, generally subject to the reporting person's continued association with the Issuer on the date such shares of Common Stock are to be issued. The reporting person was associated with the Issuer on May 3, 2012, resulting in the vesting and issuance of 1,500 of the 6,000 shares of Common Stock covered by the RSU. The remaining 4,500 remain subject to issuance upon future vesting.
- [F11]A Restricted Share Unit, sometimes referred to as a Restricted Stock Unit or RSU, represents the conditional right to receive one share of Common Stock. RSUs are subject to time vesting but not performance vesting. These RSUs will vest and the underlying shares of Common Stock will be issued in equal annual installments of approximately 838 shares commencing on or about May 1, 2013, 2014, 2015 and 2016, generally subject to the reporting person's continued association with the Issuer on the date such shares of Common Stock are to be issued. Accordingly, as of May 3, 2012, 3,350 RSU's have been granted, but are not yet vested.
- [F2]A Performance Share Unit, sometimes referred to as a Performance Stock Unit or PSU, represents the conditional right to receive one share of Common Stock. PSUs granted in April 2009 resulted in the earning, with respect to the fiscal year ended March 2010 and based on the extent to which certain performance criteria were satisfied during fiscal year 2010, of the right to receive 11,250 shares of Common Stock. Once earned, the PSUs vest and are paid through the issuance of shares of Common Stock in four approximately equal annual installments commencing on or about May 1, 2010, 2011, 2012 and 2013, subject to the reporting person's continued employment or association with the Issuer on the date such shares of Common Stock are to be issued.
- [F3]A Performance Share Unit, sometimes referred to as a Performance Stock Unit or PSU, represents the conditional right to receive one share of Common Stock. PSUs granted in April 2010 resulted in the earning, with respect to the fiscal year ended March 2011 and based on the extent to which certain performance criteria were satisfied during fiscal year 2011, of the right to receive 3,750 shares of Common Stock. Once earned, the PSUs vest and are paid through the issuance of shares of Common Stock in four approximately equal annual installments commencing on or about May 1, 2011, 2012, 2013 and 2014, subject to the reporting person's continued employment or association with the Issuer on the date such shares of Common Stock are to be issued.
- [F4]A Restricted Share Unit, sometimes referred to as a Restricted Stock Unit or RSU, represents the conditional right to receive one share of Common Stock. RSUs granted in April 2011 resulted in the right to receive 6,000 shares of Common Stock. The RSUs vest and are paid through the issuance of shares of Common Stock in four approximately equal annual installments commencing on or about May 1, 2012, 2013, 2014 and 2015, subject to the reporting person's continued employment or association with the Issuer on the date such shares of Common Stock are to be issued.
- [F5]$21.08 -- closing market price on May 3, 2012.
- [F6]1 for 1
- [F7]In respect of the PSUs granted in April 2008 with respect to fiscal year 2009, on April 28, 2009, the reporting person earned the right to receive 7,200 shares of Common Stock. The reporting person was associated with the Issuer on April 28, 2009, resulting in the vesting and issuance of 1,800 of the 7,200 shares of Common Stock so earned. On April 27, 2010, the reporting person continued to be associated with the Issuer, resulting in the vesting and issuance of another 1,800 shares of Common Stock so earned. On April 26, 2011, the reporting person continued to be associated with the Issuer, resulting in the vesting and issuance of another 1,800 shares of Common Stock so earned. On May 3, 2012, the reporting person continued to be associated with the Issuer, resulting in the vesting and issuance of the remaining 1,800 shares of Common Stock so earned.
- [F8]In respect of the PSUs granted in April 2009 with respect to fiscal year 2010, on April 27, 2010, the reporting person earned the right to receive 11,250 shares of Common Stock. The reporting person was associated with the Issuer on April 27, 2010, resulting in the vesting and issuance of 2,813 of the 11,250 shares of Common Stock so earned. On April 26, 2011, the reporting person continued to be associated with the Issuer, resulting in the vesting and issuance of another 2,813 shares of Common Stock so earned. On May 3, 2012, the reporting person continued to be associated with the Issuer, resulting in the vesting and issuance of another 2,813 shares of Common Stock so earned. The remaining 2,811 shares have been earned, but are not yet vested.
- [F9]In respect of the PSUs granted in April 2010 with respect to fiscal year 2011, on April 26, 2011, the reporting person earned the right to receive 3,750 shares of Common Stock. The reporting person was associated with the Issuer on April 26, 2011, resulting in the vesting and issuance of 938 of the 3,750 shares of Common Stock so earned. On May 3, 2012, the reporting person continued to be associated with the Issuer, resulting in the vesting and issuance of another 938 shares of Common Stock so earned. The remaining 1,874 shares have been earned, but are not yet vested.
Documents
Issuer
TESSCO TECHNOLOGIES INC
CIK 0000927355
Entity typeother
Related Parties
1- filerCIK 0001275687
Filing Metadata
- Form type
- 4
- Filed
- May 6, 8:00 PM ET
- Accepted
- May 7, 5:38 PM ET
- Size
- 28.1 KB