4//SEC Filing
REIN DOUGLAS A 4
Accession 0001179110-19-005937
CIK 0000927355other
Filed
May 12, 8:00 PM ET
Accepted
May 13, 4:51 PM ET
Size
18.4 KB
Accession
0001179110-19-005937
Insider Transaction Report
Form 4
REIN DOUGLAS A
Sr. VP
Transactions
- Exercise/Conversion
Common Stock
2019-05-10+938→ 68,159 total - Exercise/Conversion
Common Stock
2019-05-10+781→ 68,940 total - Exercise/Conversion
Performance Share Unit
2019-05-10−938→ 1,874 total→ Common Stock (938 underlying) - Award
Performance Share Unit
2019-05-10+3,125→ 4,999 total→ Common Stock (3,125 underlying) - Award
Employee Stock Option
2019-05-10+17,000→ 17,000 totalExercise: $18.03Exp: 2025-05-10→ Common Stock (17,000 underlying) - Tax Payment
Common Stock
2019-05-10−560→ 68,380 total - Exercise/Conversion
Performance Share Unit
2019-05-10−781→ 4,218 total→ Common Stock (781 underlying)
Footnotes (8)
- [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 May 2017 resulted in the earning, with respect to the fiscal year ended March 2018 and based on the extent to which certain performance criteria were satisfied during fiscal year 2018, 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, 2018, 2019, 2020 and 2021, 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.
- [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 May 2018 resulted in the earning, with respect to the fiscal year ended March 2019 and based on the extent to which certain performance criteria were satisfied during fiscal year 2019, of the right to receive 3,125 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, 2019, 2020, 2021 and 2022, 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]$18.03 closing market price on May 10, 2019.
- [F4]1 for 1.
- [F5]In respect of the PSUs granted in May 2017 with respect to fiscal year 2018, on May 10, 2018, the reporting person earned the right to receive 3,750 shares of Common Stock. The reporting person was associated with the Issuer on May 10, 2018, resulting in the vesting and issuance of 938 of the 3,750 shares of Common Stock so earned. On May 10, 2019, 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.
- [F6]In respect of the PSUs granted in May 2018 with respect to fiscal year 2019, on May 10, 2019, the reporting person earned the right to receive 3,125 shares of Common Stock. The reporting person was associated with the Issuer on May 10, 2019, resulting in the vesting and issuance of 781 of the 3,125 shares of Common Stock so earned. The remaining 2,344 shares have been earned, but are not yet vested.
- [F7]All shares are owned directly, except for 2,726 shares which are owned indirectly, through 401(k) plan. Includes 10,801 shares acquired pursuant to the TESSCO Team Member Stock Purchase Plan.
- [F8]The options will vest 25% after 1 year and then the remainder vests 1/36 each month for 3 years.
Documents
Issuer
TESSCO TECHNOLOGIES INC
CIK 0000927355
Entity typeother
Related Parties
1- filerCIK 0001229721
Filing Metadata
- Form type
- 4
- Filed
- May 12, 8:00 PM ET
- Accepted
- May 13, 4:51 PM ET
- Size
- 18.4 KB