SEC Form 4 · accession 0001181431-15-006941
Energy Transfer Operating, L.P. · ETP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Martin Salinas
Officer — Chief Financial Officer · Director
Period of report
May 13, 2015
Accepted (ET)
May 14, 2015 · 4:43 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001161154
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common UnitsF3 | May 13, 2015 | A | 32,600 | $0.00 | A | 46,769 | D | |
| Common Units | May 13, 2015 | F | 13,679 | $43.859 | D | 33,090 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted UnitsF1,F2,F3 | — | May 12, 2015 | M | 32,600 | D | — | — | Common Units | 32,600 | 0 | D |
Explanation of responses
- F1Each Restricted Unit represents a contingent right to receive one Common Unit of SXL.
- F2Not applicable.
- F3In connection with Mr. Salinas' termination of employment, Mr. Salinas and Energy Transfer Partners, L.P. entered into a Separation and Non-Solicit Agreement and Full Release of Claims (the "Separation Agreement"), which became effective on May 9, 2015. The Separation Agreement provided for, among other things, acceleration of the vesting of all unvested restricted common units awarded to Mr. Salinas pursuant to the terms of the Sunoco Partners LLC Long-Term Incentive Plan, as amended (the "SXL Unit Plan"). As of May 9, 2015, Mr. Salinas had outstanding awards under the SXL Unit Plan of 32,600 restricted common units that were otherwise not scheduled to vest until after Mr. Salinas' termination of employment.