SEC Form 4 · accession 0001676601-18-000013

LEGACY RESERVES LP · LGCY

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Baines Creek Capital, LLC

10% Owner

Period of report

Feb 7, 2018

Accepted (ET)

Feb 9, 2018 · 5:35 pm EST

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0001358831

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I
Common^F1,F2,F3,F4	Feb 7, 2018	P	130,000	$2.30	A	9,701,146	D
Common^F1,F2,F5,F6	Feb 8, 2018	P	75,000	$2.22	A	9,776,146	D
Common^F1,F2,F7,F8	Feb 9, 2018	P	135,080	$2.13	A	9,911,226	D

Table II — derivative securities

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Option Contract (right to buy)^F1,F2,F9,F10	$5.00	Feb 7, 2018	P	300	A	Feb 7, 2018	Sep 21, 2018	Common	30,000	500	D
Option Contract (right to buy)^{F1,F2,F11,F12}	$5.00	Feb 9, 2018	P	654	A	Feb 9, 2018	Sep 21, 2018	Common	65,400	1,154	D

Explanation of responses

F1This Form 4 is being jointly filed by Baines Creek Partners, L.P., a Delaware limited partnership (BCP), Baines Creek Special Purpose Partners, L.P., a Delaware limited partnership (BCSPP), Kevin Tracy, a United States citizen (KT), Jeremy Carter a United States citizen (JC), James Schumacher, a United States citizen (JS), and Brian Williams a United States citizen (BW). The foregoing persons are hereinafter sometimes collectively referred to as the Reporting Persons.
F10500 Option Contracts (right to buy) is the aggregate number of contracts owned by the Reporting Persons and is owned as follows: BCP = 500 contracts directly owned by it; BCSPP = 0 contracts directly owned by it; KT = 0 contracts directly owned by him; JC =0 contracts directly owned by him; JS = 0 contracts directly owned by him; and BW = 0 contracts directly owned by him.
F11The aggregate number of Option Contracts (right to buy) purchased on February 09, 2018 was 654 contracts and such contracts were purchased by the Reporting Persons in the following amounts: BCP = 654 contracts; BCSPP = 0 contracts; KT = 0 contracts; JC = 0 contracts; JS = 0 contracts; and BW = 0 contracts.
F121,154 Option Contracts (right to buy) is the aggregate number of contracts owned by the Reporting Persons and is owned as follows: BCP = 1,154 contracts directly owned by it; BCSPP = 0 contracts directly owned by it; KT = 0 contracts directly owned by him; JC =0 contracts directly owned by him; JS = 0 contracts directly owned by him; and BW = 0 contracts directly owned by him.
F2Baines Creek GP the general partner of BCP and BCSPP has the power to direct the affairs of BCP and BCSPP, including the voting and disposition of shares. As the discretionary investment manager of these Funds and certain other accounts, Baines Creek Capital has power to direct the voting and disposition of shares held by these Funds and such accounts. Messrs. Tracy, Carter, Schumacher and Williams are affiliated persons of Baines Creek Capital and in this capacity direct the operations of BCP and BCSPP and the voting and disposition of shares held by these Funds and separate client accounts managed by Baines Creek Capital. Baines Creek Capital and Messrs. Tracy, Carter, Schumacher and Williams may also be deemed to beneficially own indirect pecuniary interest as the result of performance-based fees and profit allocations. Each of Baines Creek Capital and Messrs. Tracy, Carter, Schumacher and Williams disclaims such beneficial ownership except to the extent ultimately realized.
F3The aggregate number of shares of common stock purchased on February 07, 2018 was 130,000 shares and such shares were purchased by the Reporting Persons in the following amounts: BCP = 83,931 shares; BCSPP = 46,069 shares; KT = 0 shares; JC = 0 shares; JS = 0 shares, and BW = 0 shares.
F49,701,146 shares of common stock is the aggregate number of shares of common stock owned by the Reporting Persons and is owned as follows: BCP = 5,615,634 shares directly owned by it; BCSPP = 3,612,545 shares directly owned by it; KT = 4,035 shares directly owned by him; JC = 115,311 shares directly owned by him; JS = 3,481 shares directly owned by him, and BW = 350,140 shares directly owned by him.
F5The aggregate number of shares of common stock purchased on February 08, 2018 was 75,000 shares and such shares were purchased by the Reporting Persons in the following amounts: BCP = 12,979 shares; BCSPP = 62,021 shares; KT = 0 shares; JC = 0 shares; JS = 0 shares, and BW = 0 shares.
F69,776,146 shares of common stock is the aggregate number of shares of common stock owned by the Reporting Persons and is owned as follows: BCP = 5,628,613 shares directly owned by it; BCSPP = 3,674,566 shares directly owned by it; KT = 4,035 shares directly owned by him; JC = 115,311 shares directly owned by him; JS = 3,481 shares directly owned by him, and BW = 350,140 shares directly owned by him.
F7The aggregate number of shares of common stock purchased on February 09, 2018 was 135,080 shares and such shares were purchased by the Reporting Persons in the following amounts: BCP = 64,759 shares; BCSPP = 70,321 shares; KT = 0 shares; JC = 0 shares; JS = 0 shares, and BW = 0 shares.
F89,911,226 shares of common stock is the aggregate number of shares of common stock owned by the Reporting Persons and is owned as follows: BCP = 5,693,372 shares directly owned by it; BCSPP = 3,744,887 shares directly owned by it; KT = 4,035 shares directly owned by him; JC = 115,311 shares directly owned by him; JS = 3,481 shares directly owned by him, and BW = 350,140 shares directly owned by him.
F9The aggregate number of Option Contracts (right to buy) purchased on February 07, 2018 was 300 contracts and such contracts were purchased by the Reporting Persons in the following amounts: BCP = 300 contracts; BCSPP = 0 contracts; KT = 0 contracts; JC = 0 contracts; JS = 0 contracts; and BW = 0 contracts.