4//SEC Filing
TECUMSEH PRODUCTS CO 4
Accession 0001209191-14-046389
CIK 0000096831operating
Filed
Jul 7, 8:00 PM ET
Accepted
Jul 8, 3:17 PM ET
Size
13.4 KB
Accession
0001209191-14-046389
Insider Transaction Report
Form 4
Connor James J.
VP, Treasurer and CFO
Transactions
- Disposition to Issuer
Phantom Shares
2014-07-04−2,772→ 0 totalFrom: 2015-12-31Exp: 2015-12-31→ Common Shares (2,772 underlying) - Disposition to Issuer
Stock Appreciation Rights
2014-07-04−14,709→ 0 totalExercise: $12.86Exp: 2017-01-04→ Common Shares (14,709 underlying) - Disposition to Issuer
Phantom Shares
2014-07-04−2,771→ 0 totalFrom: 2014-12-31Exp: 2014-12-31→ Common Shares (2,771 underlying) - Disposition to Issuer
Phantom Shares
2014-07-04−42,284→ 0 totalFrom: 2014-12-31Exp: 2014-12-31→ Common Shares (42,284 underlying)
Footnotes (4)
- [F1]Each phantom share was the economic equivalent of one Tecumseh Products Company Common Share. The phantom shares were settleable solely for cash.
- [F2]Pursuant to the recapitalization approved by our shareholders at the 2014 annual meeting of shareholders and effective May 2, 2014 and pursuant to the antidilution provisions of the Tecumseh Products Company Long-Term Incentive Cash Award Plan, each share of our Class A Common Stock was reclassified and converted into one common share.
- [F3]On June 27, 2014, the reporting person's employment terminated and pursuant to a General Release of All Claims and Standstill Agreement, dated June 27, 2014, but subject to rescission until July 4, 2014, he will receive $835,000 over the next 20 months (accelerated upon a Change in Control) and continuation of his medical, dental and visioin insurance until the earlier of the date he becomes a full-time employee of a third party and 18 months after the date of the General Release of All Claims, in exchange for, among other things, a release from all claims, rights and liabilities arisiung out of his employment relationship with Tecumseh Products Company, including his previously vested stock appreciation rights and his previously unvested phantom shares. Mr. Connor also agreed to various standstill arrangements for next 20 months.
- [F4]The stock appreciation rights vested in three equal annual installments beginning on January 4, 2011.
Documents
Issuer
TECUMSEH PRODUCTS CO
CIK 0000096831
Entity typeoperating
IncorporatedMI
Related Parties
1- filerCIK 0000096831
Filing Metadata
- Form type
- 4
- Filed
- Jul 7, 8:00 PM ET
- Accepted
- Jul 8, 3:17 PM ET
- Size
- 13.4 KB