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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Restricted Stock Unit (RSU) | (1) | 08/08/2017 | A(3) | 7,000 | (2) | (2) | Common Stock | 7,000 | $ 0 | 7,000 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Spitulnik Aric 11126 MCCORMICK ROAD HUNT VALLEY, MD 21031 |
CFO and Senior Vice President |
Aric Spitulnik | 08/10/2017 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | Each Restricted Stock Unit (or RSU) represents a conditional right to receive one share of TESSCO Technologies Incorporated common stock. |
(2) | Subject to the more detailed terms of the applicable Restricted Stock Unit Agreement, the number of shares of common stock "earned" from time to time is determined by multiplying the number of RSUs covered by the award by a fraction, the numerator of which is the amount of cumulative dividends (regular, ordinary and special) declared and paid (or under certain circumstances deemed declared and paid), if any, on the Common Stock over an earnings period of up to four years, and the denominator of which is $3.20. Any shares "earned" (or deemed earned) are then paid upon the fourth anniversary of the award date or upon certain earlier events, provided that the reporting person then remains employed by the Corporation. In no event may more shares of common stock be issued than the number of RSUs awarded. Upon termination of employment for Cause, or voluntarily by the Reporting Person (other than in the case of Disability), all "earned" shares are forfeited. |
(3) | By filing this Form 4, the Reporting Person does not admit that the RSUs referenced here are derivative securities or that filing of this Form 4 was required at this time. |