SEC Form 4 · accession 0001340122-16-000236
Calumet Specialty Products Partners, L.P. · CLMT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Richard Patrick Murray II
Officer — EVP and CFO
Period of report
May 20, 2016
Accepted (ET)
May 25, 2016 · 6:00 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 | May 20, 2016 | M | 55,010 | $0.00 | A | 106,244 | D | |
| Common UnitsF1 | May 20, 2016 | F | 17,409 | $0.00 | D | 88,835 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted UnitsF2,F3 | — | May 20, 2016 | A | 55,010 | A | — | — | Common Units | 55,010 | 55,010 | D |
| Restricted UnitsF2,F3 | — | May 20, 2016 | M | 55,010 | D | — | — | Common Units | 55,010 | 0 | D |
| Phantom UnitsF4,F5 | — | May 20, 2016 | A | 13,201 | A | — | — | Common Units | 13,201 | 23,060 | D |
| Phantom UnitsF4,F6 | — | May 20, 2016 | A | 4,400 | A | — | — | Common Units | 4,400 | 4,400 | D |
Explanation of responses
- F1The reporting person elected to surrender 17,409 common units to satisfy tax withholding liabilities upon delivery of common units in accordance with Rule 16b-3.
- F2Each Restricted Unit is the economic equivalent of a Calumet Specialty Products Partners, L.P. Common Unit.
- F3The reporting person elected to settle a portion of his 2015 annual cash incentive bonus in restricted units. Restricted units are 100% vested.
- F4Each Phantom Unit is the economic equivalent of a Calumet Specialty Products Partners, L.P. Common Unit.
- F5Each 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 pursuant to the Deferred Compensation Plan. Phantom Units are 100% vested.
- F6Each 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 pursuant to the Deferred Compensation Plan. 25% of the Phantom Units vest on July 1 of each year beginning on July 1, 2017.