Filing Details
- Accession Number:
- 0001140361-12-023395
- Form Type:
- 4
- Zero Holdings:
- No
- Publication Time:
- 2012-05-07 17:32:56
- Reporting Period:
- 2012-05-03
- Filing Date:
- 2012-05-07
- Accepted Time:
- 2012-05-07 17:32:56
- SEC Url:
- Form 4 Filing
Issuer
| Cik | Name | Symbol | Sector (SIC) | IRS No |
|---|---|---|---|---|
| 927355 | Tessco Technologies Inc | TESS | Wholesale-Electronic Parts & Equipment, Nec (5065) | 520729657 |
Insiders
| Cik | Name | Reported Address | Insider Title | Director | Officer | Large Shareholder | Other |
|---|---|---|---|---|---|---|---|
| 941885 | Jr B Robert Barnhill | 11126 Mccormick Road Hunt Valley MD 21031 | Ceo, President | Yes | Yes | Yes | No |
Reported Non-Derivative Transactions
| Sec. Name | Acquisiton - Disposition | Date | Amount | Price | Remaning Holdings | Equity Swap Involved | Form Type | Code | Nature of Ownership | Explanation |
|---|---|---|---|---|---|---|---|---|---|---|
| Common Stock | Acquisiton | 2012-05-03 | 9,000 | $0.00 | 1,908,658 | No | 4 | M | Direct | |
| Common Stock | Acquisiton | 2012-05-03 | 9,375 | $0.00 | 1,918,033 | No | 4 | M | Direct | |
| Common Stock | Acquisiton | 2012-05-03 | 3,188 | $0.00 | 1,921,221 | No | 4 | M | Direct | |
| Common Stock | Acquisiton | 2012-05-03 | 6,500 | $0.00 | 1,927,721 | No | 4 | M | Direct | |
| Common Stock | Disposition | 2012-05-03 | 8,380 | $0.00 | 1,919,341 | No | 4 | F | Direct | |
| Common Stock | Disposition | 2012-05-07 | 5,000 | $19.27 | 1,914,341 | No | 4 | S | Indirect | Trust |
| Common Stock | Disposition | 2012-05-07 | 5,000 | $19.27 | 1,909,341 | No | 4 | S | Indirect | Trust |
| Equity Swap Involved | Form Type | Code | Nature of Ownership | Explanation |
|---|---|---|---|---|
| No | 4 | M | Direct | |
| No | 4 | M | Direct | |
| No | 4 | M | Direct | |
| No | 4 | M | Direct | |
| No | 4 | F | Direct | |
| No | 4 | S | Indirect | Trust |
| No | 4 | S | Indirect | Trust |
Reported Derivative Transactions
| Sec. Name | Sec. Type | Acquisiton - Disposition | Date | Amount | Price | Amount - 2 | Price - 2 |
|---|---|---|---|---|---|---|---|
| Common Stock | Performance Share Unit | Disposition | 2012-05-03 | 9,000 | $0.00 | 9,000 | $0.00 |
| Common Stock | Performance Share Unit | Disposition | 2012-05-03 | 9,375 | $0.00 | 9,375 | $0.00 |
| Common Stock | Performance Share Unit | Disposition | 2012-05-03 | 3,188 | $0.00 | 3,188 | $0.00 |
| Common Stock | Performance Share Unit | Acquisiton | 2012-05-03 | 26,000 | $0.00 | 26,000 | $0.00 |
| Common Stock | Performance Share Unit | Disposition | 2012-05-03 | 6,500 | $0.00 | 6,500 | $0.00 |
| Remaning Holdings | Exercise Date | Expiration Date | Equity Swap Involved | Transaction Form Type | Transaction Code | Nature of Ownership |
|---|---|---|---|---|---|---|
| 28,312 | No | 4 | M | Direct | ||
| 18,937 | No | 4 | M | Direct | ||
| 15,749 | No | 4 | M | Direct | ||
| 41,749 | No | 4 | A | Direct | ||
| 35,249 | No | 4 | M | Direct |
Footnotes
- A Performance Share Unit, sometimes referred to as a Performance Stock Unit or PSU, represents the conditional right to receive one share of Common Stock. PSUs granted in April 2008 resulted in the earning, with respect to the fiscal year ended March 2009 and based on the extent to which certain performance criteria were satisfied during fiscal year 2009, of the right to receive 36,000 shares of Common Stock. Once earned, the PSUs vest and are paid through the issuance of shares of Common Stock in four approximately equal annual installments commencing on or about May 1, 2009, 2010, 2011 and 2012, subject to the reporting person's continued employment or association with the Issuer on the date such shares of Common Stock are to be issued.
- A Performance Share Unit, sometimes referred to as a Performance Stock Unit or PSU, represents the conditional right to receive one share of Common Stock. PSUs granted in April 2009 resulted in the earning, with respect to the fiscal year ended March 2010 and based on the extent to which certain performance criteria were satisfied during fiscal year 2010, of the right to receive 37,500 shares of Common Stock. Once earned, the PSUs vest and are paid through the issuance of shares of Common Stock in four approximately equal annual installments commencing on or about May 1, 2010, 2011, 2012 and 2013, subject to the reporting person's continued employment or association with the Issuer on the date such shares of Common Stock are to be issued.
- A Performance Share Unit, sometimes referred to as a Performance Stock Unit or PSU, represents the conditional right to receive one share of Common Stock. PSUs granted in April 2010 resulted in the earning, with respect to the fiscal year ended March 2011 and based on the extent to which certain performance criteria were satisfied during fiscal year 2011, of the right to receive 12,750 shares of Common Stock. Once earned, the PSUs vest and are paid through the issuance of shares of Common Stock in four approximately equal annual installments commencing on or about May 1, 2011, 2012, 2013 and 2014, subject to the reporting person's continued employment or association with the Issuer on the date such shares of Common Stock are to be issued.
- A Performance Share Unit, sometimes referred to as a Performance Stock Unit or PSU, represents the conditional right to receive one share of Common Stock. PSUs granted in April 2011 resulted in the earning, with respect to the fiscal year ended March 2012 and based on the extent to which certain performance criteria were satisfied during fiscal year 2012, of the right to receive 26,000 shares of Common Stock. Once earned, the PSUs vest and are paid through the issuance of shares of Common Stock in four approximately equal annual installments commencing on or about May 1, 2012, 2013, 2014 and 2015, subject to the reporting person's continued employment or association with the Issuer on the date such shares of Common Stock are to be issued.
- $21.08 - closing market price on May 3, 2012.
- 1 for 1
- In respect of the PSUs granted in April 2008 with respect to fiscal year 2009, on April 28, 2009, the reporting person earned the right to receive 36,000 shares of Common Stock. The reporting person was associated with the Issuer on April 28, 2009, resulting in the vesting and issuance of 9,000 of the 36,000 shares of Common Stock so earned. On April 27, 2010, the reporting person continued to be associated with the Issuer, resulting in the vesting and issuance of another 9,000 shares of Common Stock so earned. On April 26, 2011, the reporting person continued to be associated with the Issuer, resulting in the vesting and issuance of another 9,000 shares of Common Stock so earned. On May 3, 2012, the reporting person continued to be associated with the Issuer, resulting in the vesting and issuance of the remaining 9,000 shares of Common Stock so earned.
- In respect of the PSUs granted in April 2009 with respect to fiscal year 2010, on April 27, 2010, the reporting person earned the right to receive 37,500 shares of Common Stock. The reporting person was associated with the Issuer on April 27, 2010, resulting in the vesting and issuance of 9,375 of the 37,500 shares of Common Stock so earned. On April 26, 2011, the reporting person continued to be associated with the Issuer, resulting in the vesting and issuance of another 9,375 shares of Common Stock so earned. On May 3, 2012, the reporting person continued to be associated with the Issuer, resulting in the vesting and issuance of another 9,375 shares of Common Stock so earned. The remaining 9,375 shares have been earned, but are not yet vested.
- In respect of the PSUs granted in April 2010 with respect to fiscal year 2011, on April 26, 2011, the reporting person earned the right to receive 12,750 shares of Common Stock. The reporting person was associated with the Issuer on April 26, 2011, resulting in the vesting and issuance of 3,188 of the 12,750 shares of Common Stock so earned. On May 3, 2012, the reporting person continued to be associated with the Issuer, resulting in the vesting and issuance of another 3,188 shares of Common Stock so earned. The remaining 6,374 shares have been earned, but are not yet vested.
- In respect of the PSUs granted in April 2011 with respect to fiscal year 2012, on May 3, 2012, the reporting person earned the right to receive 26,000 shares of Common Stock. The reporting person was associated with the Issuer on May 3, 2012, resulting in the vesting and issuance of 6,500 of the 26,000 shares of Common Stock so earned. The remaining 19,500 shares have been earned, but are not yet vested.
- All shares are owned directly, except for the following shares, which are owned indirectly: 2,660 shares which are owned through 401(k) plan, 337,500 that are owned by the reporting person's spouse and children and 22,500 shares held by a charitable trust. Following the sales on May 7, 2012, the number of shares owned by the reporting person's spouse and children has been reduced to 327,500.
- Reflects sale of shares held by a trust or similar entity of which the reporting person is a trustee (or acts in a similar capacity). Reporting person disclaims ownership in such shares.
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