4//SEC Filing
YOUNG DAVID M 4
Accession 0001140361-12-023418
CIK 0000927355other
Filed
May 6, 8:00 PM ET
Accepted
May 7, 5:45 PM ET
Size
26.9 KB
Accession
0001140361-12-023418
Insider Transaction Report
Form 4
YOUNG DAVID M
SVP, CFO and Secretary
Transactions
- Exercise/Conversion
Common Stock
2012-05-03+7,500→ 87,963 total - Exercise/Conversion
Common Stock
2012-05-03+7,500→ 95,463 total - Exercise/Conversion
Common Stock
2012-05-03+2,531→ 97,994 total - Exercise/Conversion
Common Stock
2012-05-03+6,000→ 103,994 total - Tax Payment
Common Stock
2012-05-03−8,037→ 95,957 total - Exercise/Conversion
Performance Share Unit
2012-05-03−7,500→ 22,594 total→ Common Stock (7,500 underlying) - Exercise/Conversion
Performance Share Unit
2012-05-03−7,500→ 15,094 total→ Common Stock (7,500 underlying) - Exercise/Conversion
Performance Share Unit
2012-05-03−2,531→ 12,563 total→ Common Stock (2,531 underlying) - Award
Performance Share Unit
2012-05-03+24,000→ 36,563 total→ Common Stock (24,000 underlying) - Exercise/Conversion
Performance Share Unit
2012-05-03−6,000→ 30,563 total→ Common Stock (6,000 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 30,000 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]In respect of the PSUs granted in April 2011 with respect to fiscal year 2012, on May 3, 2012, the reporting person earned the right to receive 24,000 shares of Common Stock. The reporting person was associated with the Issuer on May 3, 2012, resulting in the vesting and issuance of 6,000 of the 24,000 shares of Common Stock so earned. The remaining 18,000 shares have been earned, but are not yet vested.
- [F11]All shares are owned directly, except for 1,575 shares which are owned indirectly, through 401(k) plan.
- [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 30,000 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 10,125 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 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 2011 resulted in the earning, with respect to the fiscal year ended March 2012 and based on the extent to which certain performance criteria were satisfied during fiscal year 2012, of the right to receive 24,000 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, 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 March 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 30,000 shares of Common Stock. The reporting person was associated with the Issuer on April 28, 2009, resulting in the vesting and issuance of 7,500 of the 30,000 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 7,500 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 7,500 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 7,500 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 30,000 shares of Common Stock. The reporting person was associated with the Issuer on April 27, 2010, resulting in the vesting and issuance of 7,500 of the 30,000 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 7,500 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 7,500 shares of Common Stock so earned. The remaining 7,500 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 10,125 shares of Common Stock. The reporting person was associated with the Issuer on April 26, 2011, resulting in the vesting and issuance of 2,531 of the 10,125 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 2,531 shares of Common Stock so earned. The remaining 5,063 shares have been earned, but are not yet vested.
Documents
Issuer
TESSCO TECHNOLOGIES INC
CIK 0000927355
Entity typeother
Related Parties
1- filerCIK 0001284232
Filing Metadata
- Form type
- 4
- Filed
- May 6, 8:00 PM ET
- Accepted
- May 7, 5:45 PM ET
- Size
- 26.9 KB