TESCO CORP 4
4 · TESCO CORP · Filed Nov 9, 2016
Insider Transaction Report
Form 4
TESCO CORPTESO
Niedermaier Michael
Vice President, TCII
Transactions
- Exercise/Conversion
Common Stock
2016-11-07$6.80/sh+700$4,760→ 6,815 total - Exercise/Conversion
Restricted Stock Unit
2016-11-07−700→ 0 totalFrom: 2016-11-07Exp: 2016-11-07→ Common Stock (700 underlying)
Footnotes (3)
- [F1]The Reporting Person received shares of common stock of the Company upon the vesting and redemption of an equal number of RSUs. The Reporting Person received the shares at no cost. The market value of the shares of common stock was calculated in accordance with the Amended and Restated 2005 Tesco Corporation Incentive Plan at US$ 6.80.
- [F2]Under the terms of the Amended and Restated 2005 Tesco Corporation Incentive Plan, there is no conversion price. Each RSU represents a contingent right to receive one share of TESO common stock.
- [F3]The Restricted Stock Units (RSUs) vest equally over three years beginning on the anniversary of the grant date.