SEC Form 4 · accession 0001209191-18-032795
Energy Transfer LP · ET
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Marshall S McCrea III
Officer — Group COO & CCO · Director
Period of report
May 21, 2018
Accepted (ET)
May 23, 2018 · 9:35 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001276187
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common UnitsF1,F2 | Apr 19, 2017 | J | 1,175,848 | $0.00 | D | 1,177,570 | D | |
| Common UnitsF3,F2 | May 21, 2018 | C | 267,156 | — | A | 1,444,726 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Series A Convertible Preferred UnitsF3 | $6.56 | May 21, 2018 | C | 1,112,728 | D | — | — | Common Units | 267,156 | 0 | D |
Explanation of responses
- F1Transfer of units to former spouse as a division of marital assets.
- F2The amount of Securities Beneficially Owned has been units adjusted to include units acquired through a distribution reinvest plan.
- F3On May 21, 2018 (the "Conversion Date"), the Series A Convertible Preferred Units (the "Convertible Units") representing limited partner interests in Energy Transfer Equity, L.P. (the "Partnership") automatically converted into a number of common units representing limited partner interests in the Partnership ("common units") determined by dividing (a) the Conversion Value (as defined below) on the Conversion Date by (b) $6.56. On the date the Convertible Units were issued, the Conversion Value (as defined below) of each Convertible Unit was zero, and the Conversion Value increased each fiscal quarter since the issuance and prior to the Conversion Date in an amount equal to $0.285 less the cash distribution actually paid with respect to each Convertible Unit for such quarter. As of the Conversion Date, the conversion value of each Convertible Unit is $1.575 (the "Conversion Value").