SEC Form 4 · accession 0000902664-18-003682

STONEMOR PARTNERS LP · STON

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owners

AXAR CAPITAL MANAGEMENT L.P.

10% Owner

Axar GP, LLC

10% Owner

Andrew Axelrod

10% Owner

Period of report

Oct 8, 2018

Accepted (ET)

Oct 10, 2018 · 6:12 pm EDT

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0001286131

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I	Nature of ownership
Common Units^F1,F2	Oct 8, 2018	P	8,483	$5.193	A	6,922,939	I	See footnotes
Common Units^F1,F2	Oct 9, 2018	P	19,051	$5.153	A	6,941,990	I	See footnotes
Common Units^F1,F2	Oct 10, 2018	P	27,120	$5.19	A	6,969,110	I	See footnotes

Table II — derivative securities

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Equity Swaps (obligation to buy)^F3,F1,F2,F4	—	Oct 8, 2018	J	13,664	A	—	Jun 20, 2019	Common Units Representing Limited Partnership Interests	13,664	1,375,625	I

Explanation of responses

F1This Form 4 is filed by Axar Capital Management, LP (the "Investment Manager"), Axar GP LLC ("GP") and Mr. Andrew Axelrod, with respect to the Common Units Representing Limited Partnerhip Interests (the "Common Units") held by certain funds and/or managed accounts (collectively, the "Axar Vehicles"). The Investment Manager serves as the investment manager of the Axar Vehicles. GP is the general partner of Investment Manager. Mr. Andrew Axelrod serves as the sole member of the GP.
F2Pursuant to Rule 16a-1 under the Securities Exchange Act of 1934, as amended (the "Act"), each of the Reporting Persons may be deemed to be the beneficial owner of the securities reported herein to the extent of his or its pecuniary interest therein, but disclaims beneficial ownership in excess of such amount; and pursuant to Rule 16a-1(a)(4) under the Act, this filing shall not be deemed an admission that any of the Reporting Persons is, for purposes of Section 16 of the Act or otherwise, the beneficial owner of any securities reported herein in excess of such amount.
F3On dates ranging from October 8, 2018 to October 10, 2018, the Reporting Person increased its equity swap position by 13,664 swaps. The reference prices of the equity swaps range from $5.1528 to $5.1928. Upon settlement of the various swap agreements, either (i) the counterparty will pay to the Reporting Person in cash an amount determined in part by reference to any increase between the initial reference price and the market value of a notional number of Common Units on the applicable expiration date set set forth in Table II or (ii) the Reporting Person will pay to the counterparty in cash an amount determined in part by reference to any decrease between the initial reference price and the market value of the reference shares on the applicable expiration date listed in Table II.
F4These cash-settled equity swaps can be settled at any time before the expiration date.