SEC Form 4 · accession 0001340122-16-000188
Calumet Specialty Products Partners, L.P. · CLMT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Robert E Funk
Director
Period of report
Apr 21, 2016
Accepted (ET)
Apr 25, 2016 · 8:11 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001340122
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Units | Apr 21, 2016 | M | 4,003 | $0.00 | A | 46,126 | D | |
| Common Units | Apr 21, 2016 | M | 939 | $0.00 | A | 47,065 | D | |
| Common Units | Apr 21, 2016 | M | 221 | $0.00 | A | 47,286 | D | |
| Common Units | Apr 21, 2016 | M | 1,322 | $0.00 | A | 48,608 | D | |
| Common Units | Apr 21, 2016 | M | 550 | $0.00 | A | 49,158 | D | |
| Common Units | Apr 21, 2016 | M | 550 | $0.00 | A | 49,708 | D | |
| Common Units | Apr 21, 2016 | M | 550 | $0.00 | A | 50,258 | 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,F2 | — | Apr 21, 2016 | M | 4,003 | D | — | — | Common Units | 4,003 | 5,479 | D |
| Phantom UnitsF1,F3 | — | Apr 21, 2016 | M | 939 | D | — | — | Common Units | 939 | 0 | D |
| Phantom UnitsF1,F4 | — | Apr 21, 2016 | M | 221 | D | — | — | Common Units | 221 | 775 | D |
| Phantom UnitsF1,F5 | — | Apr 21, 2016 | M | 1,322 | D | — | — | Common Units | 1,322 | 3,966 | D |
| Phantom UnitsF1,F6 | — | Apr 21, 2016 | M | 550 | D | — | — | Common Units | 550 | 0 | D |
| Phantom UnitsF1,F7 | — | Apr 21, 2016 | M | 550 | D | — | — | Common Units | 550 | 550 | D |
| Phantom UnitsF1,F8 | — | Apr 21, 2016 | M | 550 | D | — | — | Common Units | 550 | 1,100 | D |
Explanation of responses
- F1Each Phantom Unit is the economic equivalent of a Calumet Specialty Products Partners, L.P. Common Unit.
- F2Each Phantom Unit becomes payable either in the form of a Common Unit or the cash value thereof upon the earlier of the date specified by the reporting person or the reporting person's termination date. Phantom Units are 100% vested.
- F3Each Phantom Unit becomes payable either in the form of a Common Unit or the cash value thereof upon the earlier of the date specified by the reporting person or the reporting person's termination of service. 25% of the Phantom Units vest on July 1 of each year beginning on July 1, 2012.
- F4Each Phantom Unit becomes payable either in the form of a Common Unit or the cash value thereof upon the earlier of the date specified by the reporting person or the reporting person's termination of service. 25% of the Phantom Units vest on July 1 of each year beginning on July 1, 2013.
- F525% of the Phantom Units vested immediately and the remaining vest ratably over three years on December 31 of each year beginning on December 31, 2016.
- F625% of the Phantom Units vest on December 31 of each year beginning on December 31, 2012.
- F725% of the Phantom Units vest on December 31 of each year beginning on December 31, 2013.
- F825% of the Phantom Units vest on December 31 of each year beginning on December 31, 2014.