SEC Form 4 · accession 0001340122-17-000167
Calumet Specialty Products Partners, L.P. · CLMT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
David West Griffin
Officer — EVP and CFO
Period of report
Aug 3, 2017
Accepted (ET)
Aug 7, 2017 · 4:57 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 | Aug 3, 2017 | P | 100 | $5.15 | A | 54,452 | D | |
| Common Units | Aug 4, 2017 | P | 453 | $5.35 | A | 54,905 | 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 | — | Aug 3, 2017 | A | 250,000 | A | — | Dec 31, 2020 | Common Units | 250,000 | 250,000 | D |
Explanation of responses
- F1Each Phantom Unit is the economic equivalent of a Calumet Specialty Products Partners, L.P. Common Unit.
- F240% of the Phantom Units will vest on January 1, 2018. An additional, 20% 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 $7 per Common Unit. An additional 20% 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 $10 per Common Unit. An additional 20% 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 $18 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.