1 Apr 2005director interest notice● Neutral
TODCO Vice President David Crowley exercised stock options for 11,111 shares and disposed of 22,222 shares.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
24 Mar 2005securities registration● Neutral
TODCO registered a securities offering with the SEC using its shelf eligibility.
21 Mar 2005director interest notice● Neutral
TODCO Vice President and Controller Dale W Wilhelm exercised stock options for 16,666 shares and disposed of 33,332 shares.
21 Mar 2005director interest notice● Neutral
TODCO Sr. Vice President and CFO Keefe Scott O exercised stock options for 57,500 shares and disposed of 115,000 shares.
17 Mar 2005director interest notice● Neutral
TODCO Sr. Vice President and CFO Keefe Scott O exercised stock options for 100,000 shares and disposed of 200,000 shares.
14 Feb 2005substantial holder notice● Neutral
Capital Research and Management Company reported a TODCO shareholding of 2,130,000 shares (3.50% of votes) in a periodic institutional filing.
14 Feb 2005director interest notice● Neutral
TODCO Vice President Lloyd Pellegrin had 199 shares withheld for taxes on vesting stock.
14 Feb 2005director interest notice● Neutral
TODCO Treasurer Darren Vorst had 261 shares withheld for taxes on vesting stock.
11 Feb 2005material agreement● Neutral
On February 7, 2005 the compensation committee granted options and deferred performance units to officers (CEO Jan Rask: 65,000 options and 52,000 units), adopted a 2005 cash bonus plan, paid 2004 bonuses (Rask $395,000), and raised executive salaries from March 1, 2005 (Rask to $565,000). The board also raised director pay, and on February 8, 2005 Thomas N. Amonett was appointed Chairman of the Board in a board and committee reorganization.
9 Feb 2005director interest notice● Neutral
Darren Vorst became a TODCO Treasurer and company insider (initial ownership filing).
23 Dec 2004director interest notice● Neutral
TODCO 10%+ owner Transocean INC sold 14,950,000 shares at $17.28.
22 Dec 2004capital raising announcement● NeutralMajor
Transocean sold 13,000,000 TODCO Class A shares at $18.00 each through Morgan Stanley, Citigroup and Goldman Sachs, and the underwriters exercised in full their option for 1,950,000 more shares. TODCO received no proceeds. Transocean converted its Class B shares into Class A, so no Class B remain; it will hold 13,310,000 Class A shares (about 22%) and its voting power falls from about 81.5% to about 22%, though it keeps rights to designate directors in proportion to its ownership and to consent to certain charter and bylaw amendments. This follows the earlier registrations and offerings and ends Transocean's majority control.
17 Dec 2004securities registration● Neutral
TODCO filed the final prospectus for a registered offering.
15 Dec 2004securities registration● Neutral
TODCO amended a filing by which it registered a securities offering with the SEC.
13 Dec 2004securities registration● Neutral
TODCO amended a filing by which it registered a securities offering with the SEC.
10 Dec 2004substantial holder notice● Neutral
Capital Research and Management Company reported a TODCO shareholding of 1,600,000 shares (5.00% of votes) in a periodic institutional filing.
24 Nov 2004material agreement● Neutral
On October 20, 2004 TODCO awarded director J. Michael Talbert 5,000 restricted Class A shares under its long-term incentive plan adopted in February 2004. The shares vest after ten years if he remains a director, with earlier vesting in some cases such as death, disability or non-re-election. The filing also attaches the form of director award letters.
22 Nov 2004material agreement● Neutral
On November 19, 2004 TODCO and Transocean again amended their registration rights agreement so Transocean bears certain costs of a further secondary offering starting November 22, 2004. TODCO filed a registration statement for the sale of up to 14,950,000 TODCO shares owned by Transocean (including up to 1,950,000 for over-allotments), continuing Transocean's sell-down of its stake.
22 Nov 2004securities registration● Neutral
TODCO registered a securities offering with the SEC.
22 Oct 2004director interest notice● Neutral
TODCO director J Michael Talbert received 5,000 shares as part of the equity award.
21 Oct 2004director interest notice● Neutral
TODCO director J Michael Talbert received 5,000 shares as part of the equity award.
22 Sept 2004director interest notice● Neutral
TODCO 10%+ owner Transocean INC sold 17,940,000 shares.
22 Sept 2004director interest notice● Neutral
TODCO 10%+ owner Transocean Holdings INC sold 2,712,465 shares at $15.08.
17 Sept 2004securities registration● Neutral
TODCO filed the final prospectus for a registered offering.
16 Sept 2004securities registration● Neutral
TODCO registered additional securities for an offering already underway.
15 Sept 2004securities registration● Neutral
TODCO amended a filing by which it registered a securities offering with the SEC.
10 Sept 2004material agreement● Neutral
TODCO and its majority owner Transocean Inc. amended their registration rights agreement on September 7, 2004 so that Transocean bears certain costs of a secondary public offering of TODCO shares that Transocean and affiliates were selling in September 2004. This continues the earlier registration filings; TODCO is not described as receiving anything from the sale.
9 Sept 2004securities registration● Neutral
TODCO amended a filing by which it registered a securities offering with the SEC.
3 Aug 2004securities registration● Neutral
TODCO registered a securities offering with the SEC.
12 May 2004director interest notice● Neutral
TODCO director Thomas M Hamilton received 5,000 shares and a 5,000-share option grant as part of the equity award.