TESCO CORP 4
4 · TESCO CORP · Filed Jan 29, 2014
Insider Transaction Report
Form 4
TESCO CORPTESO
Foster Jeffrey L
Sr. V.P., Operations
Transactions
- Award
Common Stock
2014-01-22$17.55/sh+112$1,965→ 56,081 total - Award
Common Stock
2014-01-22$18.23/sh+108$1,968→ 56,189 total - Award
Common Stock
2014-01-22$18.66/sh+104$1,940→ 56,293 total
Footnotes (4)
- [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 22, 2014, the Company provided instructions to the Transfer Agent regarding the issuance of shares to the Plan Administrator, with such shares covering monthly contributions for the period October 2013 through December 2013. Although the shares were not issued until January 2014, the payroll deductions and company benefit were applied during the correct payroll month. The delay in share purchase was caused by an administrative error that required audit and correction by the Company and its Third-party administrator. The share purchase price was calculated in accordance with the Plan for each month, and funds withheld from the Reporting Person's 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
- [F2]The share price was calculated in accordance with the Plan terms at US $17.545. Based on the noon rate of exchange of the Bank of Canada on the date of calculation, the converted price is C$ 18.19592000.
- [F3]The share price was calculated in accordance with the Plan terms at US $18.225. Based on the noon rate of exchange of the Bank of Canada on the date of calculation, the converted price is C$ 19.30939.
- [F4]The share price was calculated in accordance with the Plan terms at US $18.655. Based on the noon rate of exchange of the Bank of Canada on the date of calculation, the converted price is C$ 19.58215.