TESORO CORP /NEW/ 4
4 · TESORO CORP /NEW/ · Filed Feb 12, 2015
Insider Transaction Report
Form 4
Glenewinkel Arlen O
VP and Controller
Transactions
- Exercise/Conversion
Common Stock
2015-02-10+11,800→ 47,693 total - Tax Payment
Common Stock
2015-02-10$88.10/sh−4,951$436,183→ 42,742 total - Exercise/Conversion
Market Stock Unit Award
2015-02-10−5,900→ 6,371 total→ Common Stock (11,800 underlying) - Award
Market Stock Unit Award
2015-02-10+1,977→ 8,348 total→ Common Stock (1,977 underlying)
Footnotes (9)
- [F1]Payment of common shares that vested and settled pursuant to Market Stock Unit Award originally granted by the Compensation Committee of the Company's Board of Directors on May 11, 2011 pursuant to the Company's 2011 Long Term Incentive Plan. The potential payout for the MSU Award at vesting ranged from 50% to 200%, with payout certified by the Compensation Committee at 200%.
- [F2]The Company's Long Term Incentive Plan permits grantees to pay the federal income tax liability with shares thereby reducing the awards listed above.
- [F3]Each market stock unit award represents a contingent right to receive shares of TSO common stock at target payout levels.
- [F4]The market stock unit award vested on February 1, 2015, but settled in stock upon certification by the Compensation Committee on February 10, 2015.
- [F5]Balance includes 13,275 shares in the Company's Thrift Plan, 28,506 direct ownership shares and 96l indirect shares.
- [F6]The market stock unit award will vest on February 10, 2018 and will be settled in stock between 50% and 200% of target payout levels.
- [F7]Balance includes multiple grants with various vesting dates.
- [F8]On Table II, Col. 9 of the Form 4 filed on 05/28/14 incorrectly reflected the number of Derivative Securities Beneficially Owned Market Stock Unit Awards as 14,421 instead of 12,271. Such amount has been corrected on this calculation of this total.
- [F9]Award granted by the Compensation Committee of the Board of Directors.