TESCO CORP 4
4 · TESCO CORP · Filed Dec 8, 2015
Insider Transaction Report
Form 4
TESCO CORPTESO
KOTT GARY L
Director
Transactions
- Award
Restricted Stock Unit
2015-12-04+12,500→ 12,500 totalFrom: 2016-12-04Exp: 2018-12-04→ Common Stock (12,500 underlying)
Footnotes (4)
- [F1]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.
- [F2]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.
- [F3]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.
- [F4]The RSUs vest equally over three years beginning December 4, 2016.