SEC Form 4 · accession 0001340122-17-000037
Calumet Specialty Products Partners, L.P. · CLMT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Timothy Go
Officer — Chief Executive Officer
Period of report
Feb 23, 2017
Accepted (ET)
Feb 27, 2017 · 6:51 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001340122
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 UnitsF1,F2 | — | Feb 23, 2017 | A | 375,000 | A | — | Dec 31, 2020 | Common Units | 375,000 | 375,000 | D |
Explanation of responses
- F1Each Phantom Unit is the economic equivalent of a Calumet Specialty Products Partners, L.P. Common Unit.
- F233.3% of the Phantom Units will vest at such time, if at all, that the average daily closing price of Calumet Specialty Products Partners, L.P. (the "Partnership") Common Units on the NASDAQ Stock Market LLC ("NASDAQ") during any 120 consecutive calendar day period averages $8 per Common Unit. An additional 66.7% of the Phantom Units will vest at such time, if at all, that the average daily closing price of the Partnership's Common Units on the NASDAQ during any 120 consecutive calendar day period averages $16 per Common Unit. Settlement will occur on the first to occur of the second anniversary of the reporting person's separation from service, or the issuer's change in control.