TESORO CORP /NEW/ 4
4 · TESORO CORP /NEW/ · Filed Feb 12, 2016
Insider Transaction Report
Form 4
Parrish Charles S
SVP, Gen Counsel & Sec
Transactions
- Exercise/Conversion
Common Stock
2016-02-10+14,000→ 130,299 total - Tax Payment
Common Stock
2016-02-10$74.01/sh−5,488$406,167→ 124,811 total - Exercise/Conversion
Market Stock Unit Award
2016-02-10−7,000→ 15,022 total→ Common Stock (14,000 underlying)
Footnotes (5)
- [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 February 4, 2013 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 one share of TSO common stock at target payout levels.
- [F4]The market stock unit award vested on February 4, 2016, but settled in stock upon certification by the Compensation Committee on February 10, 2016.
- [F5]Award granted by the Compensation Committee of the Board of Directors.