SEC Form 4 · accession 0001104659-15-054472
Sanchez Midstream Partners LP · SNMP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Patricio D. Sanchez
Officer — Chief Operating Officer · Director
Period of report
Jul 27, 2015
Accepted (ET)
Jul 29, 2015 · 6:58 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001362705
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common UnitsF1,F2,F3 | Jul 27, 2015 | J | 196,023 | — | A | 196,023 | I | By 1988 Trust #14 |
| Common UnitsF4 | Jul 28, 2015 | A | 44,910 | — | A | 56,525 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1On July 27, 2015, San Juan Oil & Gas No. 2, Ltd. ("San Juan") made a pro rata distribution (the "San Juan Distribution") for no consideration of the 529,792 common units representing limited partner interests ("Units") of Sanchez Production Partners LP beneficially owned by it to its partners, including 1988 Trust No. 14 ("Trust 14") (79,469 Units). On July 27, 2015, Sanexco, Ltd. ("Sanexco") made a pro rata distribution (the "Sanexco Distribution") for no consideration of the 529,792 Units beneficially owned by it to its partners, including Trust 14 (116,554 Units).
- F2These Units are owned directly by Trust 14. Patricio Sanchez is a co-trustee, along with A. R. Sanchez, Jr., and beneficiary of Trust 14. Patricio Sanchez may be deemed to share voting and dispositive power over the Units held by Trust 14. Patricio Sanchez disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership by Patricio Sanchez of the reported securities for purposes of Section 16 or any other purpose.
- F3To the extent the the San Juan Distribution and the Sanexco Distribution were pro rata to San Juan's and Sanexco's partners, respectively, Rule 16a-9(a) under the Act is applicable and thus would exempt the acquisitions of the Units by Trust 14 from Section 16 of the Act.
- F4Represents a grant of Units from the Issuer.