TESCO CORP 4
4 · TESCO CORP · Filed May 20, 2008
Insider Transaction Report
Form 4
TESCO CORPTESO
BOYLE JOHN ERNEST
Other
Transactions
- Exercise/Conversion
Restricted Stock Unit
2008-05-18−500→ 1,000 totalExercise: $0.00→ Common Stock (500 underlying) - Exercise/Conversion
Common Stock
2008-05-18+500→ 500 total
Footnotes (5)
- [F1]On May 18, 2007, the Reporting Person received a grant of Restricted Stock Units ("RSUs") under the Amended and Restated 2005 Tesco Corporation 2005 Incentive Plan (the "Plan"). 500 RSUs vested on May 18, 2008 and under the terms of the Plan, the Company redeemed such vested RSUs for an equal number of shares of the Company's common stock. The defined terms in this footnote are used in other footnotes throughout this Form 4.
- [F2]The Reporting Person received 500 shares of the Company's common stock upon the vesting and redemption of an equal number of RSUs. The Reporting Person received the shares at no cost. The market value of the shares of common stock was calculated in accordance with the Plan at US$ 31.24.
- [F3]The Company redeemed 500 RSUs that vested on May 18, 2008 from a grant received on May 18, 2007. Under the terms of the Plan, there was no conversion price.
- [F4]The RSUs vest equally over three years on the anniversary date of the grant date.
- [F5]The RSUs expire on May 18, 2010.