TESCO CORP 4
4 · TESCO CORP · Filed Nov 3, 2016
Insider Transaction Report
Form 4
TESCO CORPTESO
KOTT GARY L
Director
Transactions
- Award
Restricted Stock Unit
2016-11-01+5,300→ 5,300 totalFrom: 2017-11-01Exp: 2019-11-01→ Common Stock (5,300 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 November 1, 2016 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 contingent upon the Reporting Person's continued employment by or service as a Director to the Company.
- [F3]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.
- [F4]The RSUs vest equally over three years on the anniversary of the grant date.