TESCO CORP 4
4 · TESCO CORP · Filed Dec 15, 2015
Insider Transaction Report
Form 4
TESCO CORPTESO
Sloan Thomas B JR
Vice President
Transactions
- Exercise/Conversion
Restricted Stock Unit
2015-12-12−1,833→ 3,667 totalExp: 2017-12-12→ Common Stock (1,833 underlying) - Exercise/Conversion
Common Stock
2015-12-12+1,833→ 2,333 total
Footnotes (5)
- [F1]The vest date occurred on Saturday, December 12, 2015; therefore, the deemed vest date was Monday, December 14.
- [F2]On December 12, 2014, the Reporting Person received a grant of Restricted Stock Units (RSUs) under the Amended and Restated 2005 Tesco Corporation Incentive Plan. The RSUs vested on the anniversary date of the grant. Under the terms of the Plan, the Company redeemed the vested RSUs for an equal number of shares of common stock of the Company.
- [F3]The Reporting Person received shares of common stock of the Company upon the vesting and redemption of an equal number of RSUs. The Reporting Person received the shares at no cost. The market value of the shares of common stock was calculated in accordance with the Plan at US $7.27.
- [F4]The Company redeemed RSUs from a grant received by the Reporting Person on December 12, 2014. Under the terms of the Plan, there is no conversion price.
- [F5]The RSUs vest equally over three years on the anniversary of the grant date.