SEC Form 4 · accession 0001022321-17-000069
GENESIS ENERGY LP · GEL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Grant E Sims
Officer — Chief Executive Officer · Director
Period of report
Apr 11, 2017
Accepted (ET)
Apr 13, 2017 · 3:58 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001022321
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom UnitsF3,F1,F2 | — | Apr 11, 2017 | A | 18,326 | A | Apr 11, 2020 | Apr 11, 2020 | Common Units - Class A | 18,326 | 113,884 | D |
Explanation of responses
- F1The phantom units will be paid in cash based on the average closing price of the Common Units - Class A for the 20 trading days immediately prior to the vesting date.
- F2Award includes tandem distribution equivalent rights pursuant to which the quarterly distributions paid by the partnership on each Common Unit - Class A will be paid quarterly on the number of units corresponding to the number of units in the initial grant.
- F3Award will vest as follows: (a) if the quarterly distribution on the common units is less than $0.75 per unit for the fourth quarter of 2019 (which would be paid in the first quarter of 2020), all of the phantom units granted will be forfeited; (b) if the quarterly distribution on the common units for the fourth quarter of 2019 is $0.75 per unit, 50% of the phantom units granted will vest and the remainder will be forfeited; (c) if the distribution on the common units for the fourth quarter of 2019 is $0.80 per unit, 100% of the phantom units granted will vest; and (d) if the distribution on the common units for the fourth quarter of 2019 is $0.85 per unit or greater, 150% of the phantom units granted will vest. Should the quarterly distribution on the common units for the fourth quarter of 2019 be between the range of $0.75 per unit and $0.85 per unit, the phantom units will vest between 50% and 150% of the number granted on a pro rata basis.