4//SEC Filing
TESCO CORP 4
Accession 0001225208-17-000285
CIK 0001022705operating
Filed
Jan 3, 7:00 PM ET
Accepted
Jan 4, 2:56 PM ET
Size
15.6 KB
Accession
0001225208-17-000285
Insider Transaction Report
Form 4
TESCO CORPTESO
Boone Christopher L
SVP, CFO
Transactions
- Award
Common Stock
2016-12-31+6,500→ 23,044 total - Sale
Common Stock
2017-01-03$8.25/sh−2,144$17,688→ 23,704 total - Exercise/Conversion
Common Stock
2017-01-01$8.25/sh+2,534$20,906→ 27,233 total - Sale
Common Stock
2017-01-03$8.25/sh−548$4,521→ 26,685 total - Award
Common Stock
2016-12-31+1,655→ 24,699 total - Sale
Common Stock
2017-01-03$8.25/sh−837$6,905→ 25,848 total - Exercise/Conversion
Restricted Stock Unit
2017-01-01−2,534→ 0 totalExp: 2017-01-01→ Common Stock (2,534 underlying)
Footnotes (7)
- [F1]These shares were issued pursuant to the vesting of shares under a performance-based restricted stock unit award granted under the Amended and Restated 2005 Tesco Corporation Incentive Plan. The performance criteria achieved was based upon the Company's total shareholder return growth versus a defined group of 14 peer companies over a one-year period.To determine the number of PSUs available at vesting, the original numbers of shares granted were multiplied by a multiplier earned, from 0-1.5 (0-150 percent) PSU - TSR (Total Shareholder Return) was redeemed with a 1.3 multiplier.
- [F2]These shares were issued pursuant to the vesting of shares under a performance-based restricted stock unit award granted under the Amended and Restated 2005 Tesco Corporation Incentive Plan. The performance criteria achieved was based upon the Company's operating income percentage over one-year period.To determine the number of PSUs available at vesting, the original number of shares granted were multiplied by a multiplier earned, from 0-1.5 (0 - 150 percent). PSU - OI (Operating Income) was redeemed with a 0.331 multiplier.
- [F3]The Reporting Person received shares of common stock of the Company upon the vesting and redemption of an equal number of RSUs. The Reporting Person received the shares at no cost. The market value of the shares of common stock was calculated in accordance with the Amended and Restated 2005 Tesco Corporation Incentive Plan at US$ 8.2500.
- [F4]The Reporting Person sold shares to cover tax obligations resulting from a PSU vesting.
- [F5]The Reporting Person sold shares to cover tax obligations resulting from a RSU vesting.
- [F6]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.
- [F7]The RSUs vest equally over three years on the anniversary of the grant date.
Documents
Issuer
TESCO CORP
CIK 0001022705
Entity typeoperating
Related Parties
1- filerCIK 0001022705
Filing Metadata
- Form type
- 4
- Filed
- Jan 3, 7:00 PM ET
- Accepted
- Jan 4, 2:56 PM ET
- Size
- 15.6 KB