TECUMSEH PRODUCTS CO 4
4 · TECUMSEH PRODUCTS CO · Filed Jul 1, 2014
Insider Transaction Report
Form 4
Seikel Terence C.
Director
Transactions
- Award
Restricted Stock Units
2014-06-27+15,625→ 15,625 total→ Common Shares (15,625 underlying)
Footnotes (1)
- [F1]On June 27, 2014 outside directors of the Company received an award of a number of restricted stock units (each representing a contingent right to receive one of our common shares) equal to $75,000 divided by the closing sale price of our common shares on June 27, 2014 of $4.80 under our 2014 Omnibus Incentive Plan. The restricted stock units vest on April 29, 2015, immediately before the 2015 annual meeting of shareholders if held on that date and if the outside director is serving on that date. The restricted stock units are to be settled 75% in common shares and 25% in cash within 14 days after the vesting date.