Lowley Keith M 4
4 · TESCO CORP · Filed Jan 19, 2010
Insider Transaction Report
Form 4
TESCO CORPTESO
Lowley Keith M
Vice President - Manufacturing
Transactions
- Award
Common Stock
2010-01-15$14.29/sh+112$1,600→ 6,037 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 January 15, 2010, the Company provided instructions to the Transfer Agent regarding the issuance of shares to the Plan Administrator. The share purchase price was calculated in accordance with the Plan, and funds withheld from the Reporting Person's December 2009 salary payments plus a benefit amount contributed by the Company as set forth in the Plan, funded the purchase of the shares. The whole shares are held in the Reporting Person's name in the Plan and the Reporting Person has dispositive and voting control over the shares. Any remaining amount from the contribution or benefit that was not sufficient to purchase a whole share remains on account with the Plan Administrator and will be added to the following month's amount.
- [F2]The share price was calculated in accordance with the Plan terms at US $14.29. Based on the noon rate of exchange of the Bank of Canada on the date of calculation, the converted price is C$ 14.69498.
- [F3]Includes shares held in Reporting Person's name in the Plan or purchased directly from the Company or purchased on the open market more than one year ago.