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Filing Details

Accession Number:: 0001225208-17-000285
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2017-01-04 14:56:33
Reporting Period:: 2016-12-31

Filing Date:: 2017-01-04
Accepted Time:: 2017-01-04 14:56:33
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1022705	Tesco Corp	TESO	Oil & Gas Field Machinery & Equipment (3533)	980053204

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1434749	L Christopher Boone	11330 Clay Road Suite 350 Houston TX 77041	Svp, Cfo	No	Yes	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership
Common Stock	Acquisiton	2016-12-31	6,500	$0.00	23,044	No	4	A	Direct
Common Stock	Acquisiton	2016-12-31	1,655	$0.00	24,699	No	4	A	Direct
Common Stock	Acquisiton	2017-01-01	2,534	$8.25	27,233	No	4	M	Direct
Common Stock	Disposition	2017-01-03	548	$8.25	26,685	No	4	S	Direct
Common Stock	Disposition	2017-01-03	837	$8.25	25,848	No	4	S	Direct
Common Stock	Disposition	2017-01-03	2,144	$8.25	23,704	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	A	Direct
No	4	A	Direct
No	4	M	Direct
No	4	S	Direct
No	4	S	Direct
No	4	S	Direct

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Restricted Stock Unit	Disposition	2017-01-01	2,534	$0.00	2,534	$0.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
0		2017-01-01	No	4	M	Direct

Footnotes

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.
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.
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.
The Reporting Person sold shares to cover tax obligations resulting from a PSU vesting.
The Reporting Person sold shares to cover tax obligations resulting from a RSU vesting.
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.
The RSUs vest equally over three years on the anniversary of the grant date.