Tessari Robert M 4

4 · TESCO CORP · Filed Mar 4, 2009

Form 4

Period: 2009-02-28

Director

Transactions

Exercise/Conversion
Common Stock
2009-02-28+633→ 4,920 total
Exercise/Conversion
Restricted Stock Unit
2009-02-28−633→ 1,267 total
Exercise: $0.00Exp: 2011-02-28→ Common Stock (633 underlying)

Holdings

Footnotes (6)

[F1]The RSUs vested on the anniversary date which, in this case, was a Saturday. The deemed effective date is Monday, March 2, 2009.
[F2]On February 28, 2008, the Reporting Person received a grant of Restricted Stock Units ("RSUs") under the Amended and Restated 2005 Tesco Corporation 2005 Incentive Plan (the "Plan"). 633 RSUs vested on the anniversary date which, in this case, was a Saturday. The deemed effective date is Monday, March 2, 2009. 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.
[F3]The Reporting Person received 633 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$ 7.59.
[F4]Robert M. Tessari is the sole director and sole shareholder of Sonas Management Ltd.
[F5]The Company redeemed 633 from a grant received by the Reporting Person on February 28, 2008. Under the terms of the Plan, there was no conversion price.
[F6]The RSUs vest equally over three years on the anniversary date of the grant date.

Documents

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