SEC Form 4 · accession 0001357371-16-000297
Breitburn Energy Partners LP · BBEPQ
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Willis Jackson Washburn
Officer — Senior Vice President
Period of report
Jan 28, 2016
Accepted (ET)
Feb 1, 2016 · 4:58 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Phantom UnitsF1,F2,F3 | — | Jan 28, 2016 | A | 282,889 | A | — | — | Common Units | 282,889 | 282,889 | D |
| Phantom UnitsF4,F5,F3 | — | Jan 28, 2016 | A | 153,637 | A | — | — | Common Units | 153,637 | 153,637 | D |
Explanation of responses
- F1Each Restricted Phantom Unit ("RPU") is the economic equivalent of a common unit, which includes a distribution equivalent right that entitles the holder to cash distributions at the same rate payable to common unitholders.
- F2On each of June 28, 2018, and December 28, 2018, one-half of the RPUs will be settled for an equal number of common units.
- F3Common Units representing limited partner interests ("common units").
- F4Each Phantom Unit is the economic equivalent of a common unit, which includes a distribution equivalent right that entitles the holder to cash distributions at the same rate payable to common unitholders.
- F5On each of June 28, 2017 and December 28, 2017, one-half of the Phantom Units will be settled in cash in an amount equal to the fair market value of the common unit on the applicable vesting date, but in no event settled for less than $0.50 per Phantom Unit.