SEC Form 4 · accession 0001357371-15-000215
Breitburn Energy Partners LP · BBEPQ
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Mark L Pease
Officer — President and COO
Period of report
Nov 13, 2015
Accepted (ET)
Nov 17, 2015 · 12:04 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001357371
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Convertible Phantom UnitsF2,F1,F3 | — | Nov 13, 2015 | A | 1,076 | A | Dec 28, 2015 | Dec 28, 2015 | Common Units | 1,076 | 58,675 | D |
| Convertible Phantom UnitsF2,F1,F3 | — | Nov 13, 2015 | A | 1,216 | A | Dec 28, 2016 | Dec 28, 2016 | Common Units | 1,216 | 66,290 | D |
Explanation of responses
- F1Each Convertible Phantom Unit ("CPU") is a phantom equity award which includes a performance distribution right ("PDR") that entitles the holder to distributions at the same rate payable to common unitholders based upon the number of CPUs.
- F2Represents additional CPUs received by the Reporting Person pursuant to the terms of previously granted PDRs. Each PDR entitles the Reporting Person to additional CPUs with a value equal to the amount of distributions paid on each common unit. On November 13, 2015, BBEP paid a cash distribution to holders of its common units in an amount equal to 4.166 cents per common unit. Pursuant to the terms of the PDRs, the Reporting Person received a number of additional CPUs in respect of each PDR with a value (based on the closing price of BBEP's common units on the distribution date ($2.23)) equal to the per unit amount of the distribution.
- F3Common Units representing limited partner interests ("common units").