OKRENT DANIEL 4

Accession 0001140361-13-021398

CIK 0000927355other

View on SEC.gov Company Profile

Filed

May 15, 8:00 PM ET

Accepted

May 16, 4:57 PM ET

Size

45.3 KB

Accession

0001140361-13-021398

Insider Transaction Report

Form 4

Period: 2012-12-13

TESSCO TECHNOLOGIES INCTESS

OKRENT DANIEL

Director

Transactions

Gift
Common Stock
2012-12-13$22.28/sh−500$11,140→ 52,027 total(indirect: Rebecca Okrent)
Gift
Common Stock
2012-12-26$21.60/sh−1,365$29,484→ 45,667 total(indirect: Rebecca Okrent)
Gift
Common Stock
2012-12-26$21.60/sh−455$9,828→ 45,212 total(indirect: Rebecca Okrent)
Exercise/Conversion
Common Stock
2013-05-14+2,811→ 47,893 total(indirect: Rebecca Okrent)
Exercise/Conversion
Common Stock
2013-05-14+838→ 51,169 total(indirect: Rebecca Okrent)
Exercise/Conversion
Performance Share Unit
2013-05-14−2,811→ 9,724 total
→ Common Stock (2,811 underlying)
Gift
Common Stock
2012-12-14$22.08/sh−4,495$99,250→ 47,032 total(indirect: Rebecca Okrent)
Gift
Common Stock
2013-02-01$22.13/sh−130$2,877→ 45,082 total(indirect: Rebecca Okrent)
Exercise/Conversion
Common Stock
2013-05-14+1,500→ 50,331 total(indirect: Rebecca Okrent)
Exercise/Conversion
Performance Share Unit
2013-05-14−938→ 8,786 total
→ Common Stock (938 underlying)
Exercise/Conversion
Restricted Share Unit
2013-05-14−838→ 6,448 total
→ Common Stock (838 underlying)
Gift
Common Stock
2012-12-13$22.28/sh−500$11,140→ 51,527 total(indirect: Rebecca Okrent)
Exercise/Conversion
Common Stock
2013-05-14+938→ 48,831 total(indirect: Rebecca Okrent)
Tax Payment
Common Stock
2013-05-14−1,522→ 49,647 total(indirect: Rebecca Okrent)
Exercise/Conversion
Restricted Share Unit
2013-05-14−1,500→ 7,286 total
→ Common Stock (1,500 underlying)

Footnotes (10)

[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 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.
[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 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. The reporting person was associated with the Issuer on May 14, 2013, resulting in the vesting and issuance of 838 of the 3,350 shares of Common Stock covered by the RSU. The remaining 2,512 remain subject to issuance upon future vesting.
[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 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.
[F3]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.
[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 2012 resulted in the right to receive 3,350 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, 2013, 2014, 2015 and 2016, 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]$21.36 -- closing market price on May 14, 2013
[F6]1 for 1
[F7]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. On May 14, 2013, the reporting person continued to be associated with the Issuer, resulting in the vesting and issuance of the remaining 2,811 shares of Common Stock so earned.
[F8]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. On May 14, 2013, 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 936 shares have been earned, but are not yet vested.
[F9]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. On May 14, 2013, the reporting person continued to be associated with the Issuer, resulting in the vesting and issuance of another 1,500 shares of Common Stock covered by the RSU. The remaining 3,000 remain subject to issuance upon future vesting.

Documents

2 files

Issuer

TESSCO TECHNOLOGIES INC

CIK 0000927355

→

Entity typeother

Related Parties

filerCIK 0001275687

Filing Metadata

Form type: 4
Filed: May 15, 8:00 PM ET
Accepted: May 16, 4:57 PM ET
Size: 45.3 KB

View on SEC.gov