TESCO CORP 4
4 · TESCO CORP · Filed Dec 8, 2015
Insider Transaction Report
Form 4
TESCO CORPTESO
Sloan Thomas B JR
Vice President
Transactions
- Award
Restricted Stock Unit
2015-12-04+22,000→ 22,000 totalFrom: 2016-12-04Exp: 2018-12-04→ Common Stock (22,000 underlying) - Award
Option to Purchase
2015-12-04+16,200→ 16,200 totalExercise: $8.52From: 2016-12-04Exp: 2022-12-04→ Common Stock (16,200 underlying)
Footnotes (5)
- [F1]All awards were granted (i) on December 4, 2015 to the Reporting Person as a portion of his compensation for serving as an officer or director of the Company; and (ii) 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 contigent upon the Reporting Person's continued employment by or service as a Director to the Company.
- [F2]This number represents the stock options (Options) granted to the Reporting Person as a portion of his compensation for serving as an officer of the Company. These Options are subject to a three-year vesting period.
- [F3]The Options and RSUs vest equally over three years beginning December 4, 2016.
- [F4]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.
- [F5]This number represents the 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.