TESCO CORP 4
4 · TESCO CORP · Filed Dec 29, 2008
Insider Transaction Report
Form 4
TESCO CORPTESO
Lowley Keith M
Vice President - Manufacturing
Transactions
- Award
Common Stock
2008-12-24$6.79/sh+392.179$2,663→ 2,654.723 total
Footnotes (3)
- [F1]The shares were acquired by the Reporting Person pursuant to the Company's Amended and Restated Employee Stock Savings Plan (the Plan). On December 24, 2008, the Company issued shares to the Plan Administrator. The share purchase price was calculated in accordance with the Plan and funds withheld from the Reporting Person's November salary payments plus a benefit amount contributed by the Company as set forth in the Plan funded the purchase of the shares. The shares are held in the Reporting Person's name in the Plan and the Reporting Person has dispositive and voting control over the shares.
- [F2]The share price was calculated in accordance with the Plan terms at C$ 8.45. Based on the noon rate of exchange of the Bank of Canada on the date of calculation, the converted price is US $6.79.
- [F3]Shares of the Company's Common Stock held in Reporting Person's name in the Plan, 1,823.178892 of which were purchased directly from the Company in accordance with the Plan.