Seikel Terence C. 4
4 · TECUMSEH PRODUCTS CO · Filed Apr 25, 2013
Insider Transaction Report
Form 4
TECUMSEH PRODUCTS COTECUA
Seikel Terence C.
Director
Transactions
- Award
Deferred stock units
2013-04-24+7,255.139→ 7,255.139 total→ Class A Common Stock (7,255.139 underlying)
Footnotes (1)
- [F1]Deferred stock units automatically awarded to Outside Directors of the Company effective on the date of the Annual Meeting of Shareholders each year (April 24, 2013 this year). Deferred stock units are the economic equivalent of one share of Class A common stock. Each award under the plan is fully vested when made, except that a director will forfeit his or her Account if the director's service on the Board is terminated, voluntarily or involuntarily, for any "Reason" as defined in the Company's Outside Directors' Deferred Stock Unit Plan (generally breach of policies, failure to perform duties, conviction of various crimes, embezzlement or materially injuring the Company). The deferred stock units will be paid out of the Director's Account in cash, within 30 days after the earlier of a Company Change in Control (as defined in the plan) or the date he or she ceases to be a non-employee director for any reason.