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Filing Details

Accession Number:: 0001225208-10-014884
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2010-06-08 13:00:00
Reporting Period:: 2010-06-06

Filing Date:: 2010-06-08
Accepted Time:: 2010-06-08 19:24:17
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
1364531	M Julio Quintana	3993 W. Sam Houston Parkway N. Suite 100 Houston TX 77043	President And Ceo	Yes	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	Explanation
Common Stock	Acquisiton	2010-06-06	6,666	$0.00	81,019	No	4	M	Direct
Common Stock	Disposition	2010-06-08	2,642	$10.06	78,377	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	M	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	2010-06-06	6,666	$0.00	6,666	$0.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
6,668		2011-06-06	No	4	M	Direct

Footnotes

The actual vest date was Sunday, June 6, 2010, a day in which the US Markets were closed. Under the terms of the Plan (defined below), the deemed execution date was Monday, June 7, 2010.
On June 6, 2008, the Reporting Person received a grant of Restricted Stock Units ("RSUs") under the Amended and Restated 2005 Tesco Corporation Incentive Plan (the "Plan"). The RSUs vested on the anniversary date of a grant. Under the terms of the Plan, the Company redeemed the vested RSUs for an equal number of shares of the Company's common stock. The defined terms in this footnote are used in other footnotes throughout this Form 4.
The Reporting Person received shares of the Company's common stock 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 Plan at US$ 10.86.
The Reporting Person elected to sell enough shares to cover the payroll taxes due on the receipt of shares at the vesting and settlement of RSUs.
The shares sold in nine (9) blocks for prices ranging from $10.023 to $10.1655 per share. The weighted average price of the shares sold was $10.0615 per share. Specific details of the block sales can be provided upon request.
The Company redeemed RSUs from a grant received by the Reporting Person on June 6, 2008. Under the terms of the Plan, there was no conversion price.
The RSUs vest equally over three years on the anniversary of the grant date.