SEC Form 4 · accession 0001104659-18-014869
TransMontaigne Partners LLC · TLP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
James F. Dugan
Officer — EVP / Chief Operating Officer
Period of report
Mar 1, 2018
Accepted (ET)
Mar 5, 2018 · 5:02 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001319229
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom UnitsF2,F1,F3,F4 | — | Mar 1, 2018 | A | 7,096 | A | — | — | Common Units Representing Limited Partner Interests | 7,096 | 17,723 | D |
Explanation of responses
- F1Each phantom unit represents the right to receive one common unit representing a limited partner interest in TransMontaigne Partners L.P. (a "common unit") or the cash value thereof.
- F2Represents the 2018 annual award granted under the 2016 Long Term Incentive Plan (the "Plan") by the Compensation Committee of the Board of Directors of TLP Management Services LLC on March 1, 2018 that has been deemed to be invested in "phantom units," as if invested in an investment fund that tracks the financial performance of the common units.
- F3Phantom units awarded under the Plan vest 50% as of the first day of the month that falls closest to the second anniversary of the grant date, with the remaining 50% vesting as of the first day of the month that falls closest to the third anniversary of the grant date. The phantom units are subject to earlier vesting upon a change in control or upon achieving certain age or length of service thresholds as defined in the Plan. The Reporting Person has satisfied the age and length of service thresholds of the Plan.
- F4Awards are payable as to 50% of a participant's annual award in the month containing the second anniversary of the grant date, and the remaining 50% in the month containing the third anniversary of the grant date, subject to earlier payment upon the participant's retirement after achieving the age or service thresholds, death or disability, involuntary termination without cause or termination following a change in control, each as specified in the plan. Phantom units may be paid out, in the sole discretion of the Plan Administrator, in cash or in common units, or a combination thereof.