X0202 4 2008-05-18 0001022705 TESCO CORP TESO 0001364792 Tessari Robert M 3993 W. SAM HOUSTON PARKWAY N. SUITE 100 HOUSTON TX 77043 1 Common Stock 2008-05-18 4 M 0 733 0 A 4287 D Common Stock 268515 I By Sonas Management Ltd. Restricted Stock Unit 0 2008-05-18 4 M 0 733 0 D Common Stock 733 1467 D On May 18, 2007, the Reporting Person received a grant of Restricted Stock Units ("RSUs") under the Amended and Restated 2005 Tesco Corporation 2005 Incentive Plan (the "Plan"). 733 RSUs vested on May 18, 2008 and under the terms of the Plan, the Company redeemed such 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 733 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. Based on the noon rate of exchange of the Bank of Canada on the date of redemption, the market value is US$ 31.24. The actual market value is C$ 31.24. The Reporting Person has pledged a total of 254,400 shares of Issuer's common stock as collateral for a loan that matures on May 9, 2013 and as reported on two Form 4s with transaction dates of May 9 and May 12, 2008. The loan is in the name of Sonas Management Ltd. ("Sonas") and the shares are indirectly held by Reporting Person in the name of Sonas. Robert M. Tessari is the sole director and sole shareholder of Sonas Management Ltd. The Company redeemed 733 RSUs that vested on May 18, 2008 from a grant received on May 18, 2007. Under the terms of the Plan, there was no conversion price. The RSUs vest equally over three years on the anniversary date of the grant date. The RSUs expire on May 18, 2010. James A. Lank, Attorney-in-Fact 2008-05-20