SEC Form 4 · accession 0001357371-15-000243
Breitburn Energy Partners LP · BBEPQ
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Lawrence C Smith
Officer — VP, Controller & Chf Actg Ofcr
Period of report
Dec 28, 2015
Accepted (ET)
Dec 30, 2015 · 7:25 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001357371
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common UnitsF1 | Dec 28, 2015 | M | 4,881 | $0.00 | A | 77,905 | D | |
| Common UnitsF1 | Dec 28, 2015 | M | 4,869 | $0.00 | A | 82,774 | D | |
| Common UnitsF1 | Dec 28, 2015 | M | 15,325 | $0.00 | A | 98,099 | D | |
| Common UnitsF1 | Dec 28, 2015 | F | 9,422 | $0.7116 | D | 88,677 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Phantom UnitsF2,F3,F1 | — | Dec 28, 2015 | M | 4,881 | D | — | — | Common Units | 4,881 | 0 | D |
| Restricted Phantom UnitsF2,F4,F1 | — | Dec 28, 2015 | M | 4,869 | D | — | — | Common Units | 4,869 | 4,870 | D |
| Restricted Phantom UnitsF2,F5,F1 | — | Dec 28, 2015 | M | 15,325 | D | — | — | Common Units | 15,325 | 30,651 | D |
Explanation of responses
- F1Common Units representing limited partner interests ("common units").
- F2Each Restricted Phantom Unit ("RPU") is the economic equivalent of one common unit which includes a distribution equivalent right that entitles the holder to cash distributions at the same rate payable to common unitholders.
- F3The RPUs that vested on December 28, 2015, were settled for an equal number of common units.
- F4The RPUs that vested on December 28, 2015, were settled for an equal number of common units. On December 28, 2016, the remaining RPUs will be settled for an equal number of common units.
- F5The RPUs that vested on December 28, 2015, were settled for an equal number of common units. On each of December 28, 2016, and December 28, 2017, one-half of the remaining RPUs will be settled for an equal number of common units.