SEC Form 4 · accession 0001567619-19-000116
TC PIPELINES LP · TCP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jack Stark
Director
Period of report
Dec 31, 2018
Accepted (ET)
Jan 2, 2019 · 5:31 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001075607
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Deferred Share UnitsF3,F1,F2 | — | Dec 31, 2018 | A | 545 | A | — | — | Common units representing limited partner interest | 545 | 24,573 | D |
Explanation of responses
- F1Upon termination of service as a director, Deferred Share Units ("DSUs") recorded in the reporting person's account will be settled, at the reporting person's election, in common units representing a limited partner interest in TC PipeLines, LP ("Common Units") at no additional cost on a 1 for 1 basis or in cash of equivalent value, less any applicable withholdings.
- F2The DSUs are immediately fully vested and are redeemable only following Mr. Stark's termination of Board service.
- F3Represents the automatic grant of DSUs made to Mr. Stark on a quarterly basis as part of his annual board compensation. The number of DSUs is calculated based on the Fair Market Value of the Common Units on the last trading day of the quarterly payment period.