0001209191-14-046389.txt : 20140708
0001209191-14-046389.hdr.sgml : 20140708
20140708151712
ACCESSION NUMBER: 0001209191-14-046389
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20140704
FILED AS OF DATE: 20140708
DATE AS OF CHANGE: 20140708
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: TECUMSEH PRODUCTS CO
CENTRAL INDEX KEY: 0000096831
STANDARD INDUSTRIAL CLASSIFICATION: AIR COND & WARM AIR HEATING EQUIP & COMM & INDL REFRIG EQUIP [3585]
IRS NUMBER: 381093240
STATE OF INCORPORATION: MI
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 5683 HINES DRIVE
CITY: ANN ARBOR
STATE: MI
ZIP: 48108
BUSINESS PHONE: 7345859500
MAIL ADDRESS:
STREET 1: 5683 HINES DRIVE
CITY: ANN ARBOR
STATE: MI
ZIP: 48108
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Connor James J.
CENTRAL INDEX KEY: 0001480791
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-36417
FILM NUMBER: 14965319
MAIL ADDRESS:
STREET 1: 462 CUMBERLAND TRAIL
CITY: MILFORD
STATE: MI
ZIP: 48381
4
1
doc4.xml
FORM 4 SUBMISSION
X0306
4
2014-07-04
1
0000096831
TECUMSEH PRODUCTS CO
TECU
0001480791
Connor James J.
462 CUMBERLAND TRAIL
MILFORD
MI
48381
1
1
0
0
Former Pres., CEO, Sec.
Phantom Shares
2014-07-04
4
D
0
42284
D
2014-12-31
2014-12-31
Common Shares
42284
0
D
Phantom Shares
2014-07-04
4
D
0
2771
D
2014-12-31
2014-12-31
Common Shares
2771
0
D
Phantom Shares
2014-07-04
4
D
0
2772
D
2015-12-31
2015-12-31
Common Shares
2772
0
D
Stock Appreciation Rights
12.86
2014-07-04
4
D
0
14709
D
2017-01-04
Common Shares
14709
0
D
Each phantom share was the economic equivalent of one Tecumseh Products Company Common Share. The phantom shares were settleable solely for cash.
Pursuant to the recapitalization approved by our shareholders at the 2014 annual meeting of shareholders and effective May 2, 2014 and pursuant to the antidilution provisions of the Tecumseh Products Company Long-Term Incentive Cash Award Plan, each share of our Class A Common Stock was reclassified and converted into one common share.
On June 27, 2014, the reporting person's employment terminated and pursuant to a General Release of All Claims and Standstill Agreement, dated June 27, 2014, but subject to rescission until July 4, 2014, he will receive $835,000 over the next 20 months (accelerated upon a Change in Control) and continuation of his medical, dental and visioin insurance until the earlier of the date he becomes a full-time employee of a third party and 18 months after the date of the General Release of All Claims, in exchange for, among other things, a release from all claims, rights and liabilities arisiung out of his employment relationship with Tecumseh Products Company, including his previously vested stock appreciation rights and his previously unvested phantom shares. Mr. Connor also agreed to various standstill arrangements for next 20 months.
The stock appreciation rights vested in three equal annual installments beginning on January 4, 2011.
James J. Connor
2014-07-08