X0306 4 2015-12-04 0001022705 TESCO CORP TESO 0001464287 ASSING FERNANDO RAFAEL 11330 CLAY ROAD SUITE 350 HOUSTON TX 77041 1 1 President & CEO Common Stock 2015-12-06 2015-12-07 4 M 0 5543.0000 0.0000 A 70872.0000 D Option to Purchase 8.5200 2015-12-04 4 A 0 108200.0000 0.0000 A 2016-12-04 2022-12-04 Common Stock 108200.0000 108200.0000 D Restricted Stock Unit 2015-12-04 4 A 0 74700.0000 0.0000 A 2016-12-04 2018-12-04 Common Stock 74700.0000 74700.0000 D Restricted Stock Unit 2015-12-06 2015-12-07 4 M 0 5543.0000 0.0000 D 2016-12-06 Common Stock 5543.0000 5544.0000 D The vest date occurred on Sunday, December 6, 2015; therefore, the deemed vest date was Monday, December 7, 2015. On December 6, 2013, the Reporting Person received a grant of RSUs under the Amended and Restated 2005 Tesco Corporation Incentive Plan. The RSUs vested on the anniversary date of the grant. Under the terms of the Plan, the Company redeemed the vested RSUs for an equal number of shares of common stock of the Company. 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 Plan at US$8.35. All awards were granted (i) on December 4, 2015 to the Reporting Person as a portion of his compensation for serving as an officer or director of the Company; and (ii) pursuant to the terms of the Amended and Restated Tesco Corporation 2005 Incentive Plan, which is exempt under Rule 16b-3(d). The vesting of all awards is contigent upon the Reporting Person's continued employment by or service as a Director to the Company. This number represents the stock options (Options) granted to the Reporting Person as a portion of his compensation for serving as an officer of the Company. These Options are subject to a three-year vesting period. The Options and RSUs vest equally over three years beginning December 4, 2016. Each Restricted Stock Unit (RSU) may be redeemed, at the Company's discretion, for one share of the Company's common stock or its cash equivalent. This number represents the RSUs granted. These RSUs are subject to a three year vesting period. RSUs are calculated on a one-for-one share basis. Each RSU may be redeemed, at the Company's discretion, for one share of the Company's common stock or its cash equivalent. The Company redeemed RSUs from a grant received by the Reporting Person on December 6, 2013. Under the terms of the Plan, there is no conversion price. The RSUs vest equally over three years on the anniversary date of the grant date. Chris Boone, Attorney-in-fact 2015-12-08