SEC Form 4 · accession 0001340122-17-000054
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
Mar 1, 2017
Accepted (ET)
Mar 3, 2017 · 5:21 pm EST
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 | Mar 1, 2017 | M | 3,600 | $0.00 | A | 92,435 | D | |
| Common Units | Mar 1, 2017 | M | 1,800 | $0.00 | A | 94,235 | D | |
| Common Units | Mar 1, 2017 | M | 3,344 | $0.00 | A | 97,579 | D | |
| Common Units | Mar 1, 2017 | M | 1,112 | $0.00 | A | 98,691 | D | |
| Common UnitsF1 | Mar 1, 2017 | F | 3,621 | $0.00 | D | 95,070 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom UnitsF2,F3 | — | Mar 1, 2017 | M | 3,600 | D | — | — | Common Units | 3,600 | 7,200 | D |
| Phantom UnitsF2,F4 | — | Mar 1, 2017 | M | 1,800 | D | — | — | Common Units | 1,800 | 1,800 | D |
| Phantom UnitsF2,F5 | — | Mar 1, 2017 | M | 3,344 | D | — | — | Common Units | 3,344 | 6,515 | D |
| Phantom UnitsF2,F6 | — | Mar 1, 2017 | M | 1,112 | D | — | — | Common Units | 1,112 | 0 | D |
Explanation of responses
- F1The reporting person elected to surrender 3,621 common units to satisfy tax withholding liabilities upon delivery of common units in accordance with Rule 16b-3.
- F2Each Phantom Unit is the economic equivalent of a Calumet Specialty Products Partners, L.P. Common Unit.
- F325% 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.
- F425% of the Phantom Units vested immediately and the remaining vest ratably over three years on December 31 of each year beginning on December 31, 2015.
- 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. Phantom Units are 100% vested. The reporting person settled the vested phantom units for common units.
- 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 of service. 25% of the Phantom Units vest on July 1 of each year beginning on July 1, 2013.