4//SEC Filing
Cawley Joseph 4
Accession 0001179110-20-005728
CIK 0000927355other
Filed
May 10, 8:00 PM ET
Accepted
May 11, 5:55 PM ET
Size
11.3 KB
Accession
0001179110-20-005728
Insider Transaction Report
Form 4
Cawley Joseph
Senior Vice President
Transactions
- Exercise/Conversion
Common Stock
2019-05-10+625→ 5,694 total - Exercise/Conversion
Common Stock
2019-05-10+1,875→ 7,060 total - Tax Payment
Common Stock
2019-05-10−509→ 5,185 total - Award
Employee Stock Option
2019-05-10+17,000→ 17,000 totalExercise: $18.03Exp: 2025-05-10→ Common Stock (17,000 underlying)
Footnotes (5)
- [F1]Reflects Common Stock covered by Performance Stock Units, sometimes referred to as PSUs, as and to the extent which the applicable performance requirements have been met (referred to as PSUs "earned"), and which now represent the conditional right to receive one share of Common Stock per PSU on the basis of continued time vesting. PSUs granted May 10, 2018, with a fiscal 2019 performance year, for 2,500 shares of Common Stock were earned on May 10, 2019 whereupon the shares of Common Stock underlying one fourth of the earned PSU were issued on the same date, and the remaining 1,875 shares will be issued in three equal annual installments of 625 shares on or about each of the succeeding three anniversaries of such date, subject to the Reporting Person's continued association with the Issuer on the applicable date. Reporting Person has elected to report the shares of Common Stock as an award in Table I instead of reporting the award of the PSUs in Table II.
- [F2]All shares are owned directly, except for 368 shares which are owned indirectly, through the TESSCO Technologies 401(k) plan and 1,224 shares owned indirectly through the TESSCO Team Member Stock Purchase Plan, and in the case of the 5,694 and 5,185 shares indicated as beneficially owned, 1,850 shares which are the subject of fiscal 2018 performance year PSUs earned but not yet vested (previously reported in Table I), and in the case of the 7,060 shares indicated as beneficially owned, 3,750 shares which are the subject of fiscal 2018 and 2019 performance year PSUs earned but not yet vested.
- [F3]The options will vest 25% after 1 year and then the remainder vests 1/36 each month for 3 years.
- [F4]$18.03 closing market price on May 10, 2019.
- [F5]Reflects shares earned and vested (issued) in respect of PSUs with a fiscal 2019 performance year. See Footnote (1) for explanation.
Documents
Issuer
TESSCO TECHNOLOGIES INC
CIK 0000927355
Entity typeother
Related Parties
1- filerCIK 0001811375
Filing Metadata
- Form type
- 4
- Filed
- May 10, 8:00 PM ET
- Accepted
- May 11, 5:55 PM ET
- Size
- 11.3 KB