O'BLENES JONATHAN BRIAN 4

4 · TESCO CORP · Filed Nov 13, 2012

Insider Transaction Report

Form 4

Period: 2012-11-08

TESCO CORPTESO

O'BLENES JONATHAN BRIAN

VP, Mfg & Surf Prod Eng

Transactions

Award
Option to Purchase
2012-11-08+7,400→ 7,400 total
Exercise: $10.03Exp: 2019-11-08→ Common Stock (7,400 underlying)
Award
Performance Stock Units - OI
2012-11-08+2,500→ 2,500 total
From: 2015-12-31Exp: 2015-12-31→ Common Stock (3,750 underlying)
Award
Restricted Stock Unit
2012-11-08+8,700→ 8,700 total
Exp: 2015-11-08→ Common Stock (8,700 underlying)
Award
Performance Stock Units - TSR
2012-11-08+2,500→ 2,500 total
From: 2015-12-31Exp: 2015-12-31→ Common Stock (3,750 underlying)

Footnotes (10)

[F1]All awards were granted pursuant to the terms of the Amended and Restated Tesco Corporation 2005 Incentive Plan, which is exempt under Rule 16b-3(d). The vesting of all awards is contingent upon the reporting person's continued employment by the Company.
[F10]The RSUs vest in three equal annual installments beginning November 8, 2013.
[F2]This number represents the stock options (Options) granted to the reporting person as a portion of his compensation for serving as an officer or director of the Company. These Options are subject to a three-year vesting period.
[F3]The Options vest in three equal annual installments beginning November 8, 2013.
[F4]Each Performance Stock Unit (PSU) may be redeemed, at the Company's discretion, for shares of the Company's common stock or its cash equivalent.
[F5]This number represents the performance stock units (PSUs) granted. The PSU performance goals are based on the Company's operating income percentage as compared to the Company's budget. Each award has a one-year performance period followed by an additional two-year time-based vesting period.
[F6]The first performance period is the year ending December 31, 2013. To the extent earned, PSUs will be settled 100 percent in shares. The potential settlement date is December 31, 2015. The reporting person may receive a number of shares of Company common stock from 0 percent to 150 percent of the PSUs granted, depending on the performance level achieved.
[F7]This number represents the PSUs granted. The PSU performance goals are based on the Company's one-year total shareholder return as compared to the Company's identified peers. Each award has a one-year performance period followed by an additional two-year time-based vesting period.
[F8]Each Restricted Stock Unit (RSU) may be redeemed, at the Company's discretion, for one share of the Company's common stock or its cash equivalent.
[F9]This number represents the restricted stock units (RSUs) granted. These RSUs are subject to a three-year vesting period. RSUs are calculated on a one-for-one share basis. Each RSU may be redeemed, at the Company's discretion, for one share of the Company's common stock or its cash equivalent.

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