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