SEC Form 4 · accession 0001209191-17-001559
Energy Transfer Operating, L.P. · ETP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Basil Leon Bray
Director
Period of report
Dec 31, 2016
Accepted (ET)
Jan 4, 2017 · 7:55 pm EST
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 Units | Dec 31, 2016 | M | 1,600 | $0.00 | A | 8,728 | 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 | — | Dec 31, 2016 | M | 1,600 | D | — | — | Common Units | 1,600 | 10,624 | D |
| Restricted UnitsF3,F1,F4 | — | Jan 3, 2017 | A | 2,410 | A | — | — | Common Units | 2,410 | 13,034 | D |
Explanation of responses
- F1Each Restricted Unit represents a contingent right to receive one Common Unit of SXL.
- F2Not applicable.
- F3This Form 4 is being filed to report a grant of Restricted Units pursuant to the Sunoco Partners LLC ("Company") Amended and Restated Long-Term Incentive Plan ("LTIP") in a transaction exempt under Rule 16b-3. These restricted units vests ratably in increments of sixty percent after three years and the additional forty percent after five years. Incremental settlement is contingent upon the individual continuing as a Director of the Company through the end of each vesting cycle.
- F4The Restricted Units will vest 60% on December 31, 2019 and 40% on December 31, 2021 contingent upon the individual continuing as a Director of the Company through the end of each vesting cycle.