SEC Form 4 · accession 0001225208-15-003968
DCP Midstream, LP · DCP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael S Richards
Officer — VP, GC & Secretary
Period of report
Feb 11, 2015
Accepted (ET)
Feb 13, 2015 · 2:13 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001338065
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common UnitsF1 | Feb 11, 2015 | M | 900 | $37.04 | A | 21,597 | D | |
| Common Units | Feb 11, 2015 | F | 203 | $37.04 | D | 21,394 | D | |
| Common Units | Feb 11, 2015 | D | 450 | $37.04 | D | 20,944 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom Common UnitsF1,F2 | — | Feb 11, 2015 | M | 900 | D | — | — | Common Units | 900 | 1,900 | D |
Explanation of responses
- F1Each phantom unit was the economic equivalent of one DPM common unit. Upon the vesting of 900 phantom units granted to the reporting person on February 15, 2012, 50% of the common units were deferred pursuant to the reporting person's prior deferral election under a deferred compensation plan. The deferred common units are settled in cash in the deferred compensation plan. The reporting person settled the remaining phantom units for an equal number of common units and satisfied the withholding tax liability by withholding common units.
- F2Under the Company's Long Term Incentive Plan, the phantom units reported on this Form 4 vested on 12/31/2014 and settled as of 02/11/2015.