SEC Form 4 · accession 0001336047-17-000090
Boardwalk Pipeline Partners, LP · BWP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael E McMahon
Officer — Sr. VP, Gen. Counsel & Sec
Period of report
Dec 15, 2017
Accepted (ET)
Dec 15, 2017 · 4:10 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001336047
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| BWP (Common Units)F1 | Dec 15, 2017 | M | 12,386 | — | A | 12,386 | D | |
| BWP (Common Units) | Dec 15, 2017 | D | 12,386 | $15.44 | D | 0 | D | |
| BWP (Common Units)F1 | Dec 15, 2017 | M | 12,886 | — | A | 12,886 | D | |
| BWP (Common Units) | Dec 15, 2017 | D | 12,886 | $15.44 | D | 0 | D | |
| BWP (Common Units)F2 | Dec 15, 2017 | M | 561 | — | A | 561 | D | |
| BWP (Common Units) | Dec 15, 2017 | F | 561 | $15.04 | D | 0 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom UnitsF1 | — | Dec 15, 2017 | M | 12,386 | D | Dec 15, 2017 | Dec 15, 2017 | BWP (Common Units) | 12,386 | 0 | D |
| Phantom UnitsF1 | — | Dec 15, 2017 | M | 12,886 | D | Dec 15, 2017 | Dec 15, 2017 | BWP (Common Units) | 12,886 | 0 | D |
| Phantom UnitsF2 | — | Dec 15, 2017 | M | 561 | D | Dec 15, 2017 | Dec 15, 2017 | BWP (Common Units) | 561 | 17,356 | D |
Explanation of responses
- F1Each share of phantom units is the equivalent of one share of BWP common units. The reporting person settled his shares of phantom units for cash pursuant to the payment provisions in the reporting person's grant agreement.
- F2Each share of phantom units is the equivalent of one share of BWP common units. This payment represents settlement of amounts accelerated and withheld to satisfy applicable tax withholding obligations related to the December 1, 2017, vesting event for which the reporting person elected to defer payment until December 2018 pursuant to the payment options and provisions in the reporting person's grant agreement.