SEC Form 4 · accession 0001357371-16-000252
Breitburn Energy Partners LP · BBEPQ
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Randall Hart Breitenbach
Director
Period of report
Jan 1, 2016
Accepted (ET)
Jan 4, 2016 · 5:02 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 | Jan 1, 2016 | M | 2,868 | $0.00 | A | 484,356 | D | |
| Common UnitsF1 | Jan 1, 2016 | M | 8,892 | $0.00 | A | 493,248 | D | |
| Common UnitsF1,F2 | holding | — | — | — | 690,751 | I | The Strand Energy Company |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Phantom UnitsF3,F4,F1 | — | Jan 1, 2016 | M | 2,868 | D | — | — | Common Units | 2,868 | 2,868 | D |
| Restricted Phantom UnitsF3,F5,F1 | — | Jan 1, 2016 | M | 8,892 | D | — | — | Common Units | 8,892 | 17,785 | D |
Explanation of responses
- F1Common Units representing limited partner interests ("common units").
- F2The reported common units are owned directly by The Strand Energy Company of which Mr. Breitenbach is the 26% owner. The Reporting Person disclaims beneficial ownership of the reported securities, except to the extent of his pecuniary interest
- F3Each 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.
- F4The RPUs that vested on January 1, 2016, were settled for an equal number of common units. On January 1, 2017, the remaining RPUs will be settled for an equal number of common units.
- F5The RPUs that vested on January 1, 2016, were settled for an equal number of common units. On each of January 1, 2017, and January 1, 2018, one-half of the remaining RPUs will be settled for an equal number of common units.