SEC Form 4 · accession 0001104659-16-121948
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
May 16, 2016
Accepted (ET)
May 18, 2016 · 9:31 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 UnitsF2 | May 16, 2016 | A | 115,617 | $11.11 | A | 115,617 | I | By SP Holdings, LLC |
| Common UnitsF2 | May 16, 2016 | J | 115,617 | $0.00 | D | 0 | I | By SP Holdings, LLC |
| Common Units | holding | — | — | — | 90,859 | D | ||
| Common UnitsF3 | holding | — | — | — | 19,602 | I | By 1988 Trust #14 |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Represents an anticipated distribution to SP Holdings, LLC ("SP Holdings") of 115,617 Issuer common units on or before June 1, 2016 pursuant to the Amended and Restated Shared Services Agreement, by and between Issuer and SP Holdings, dated March 6, 2015, and an anticipated concurrent distribution by SP Holdings of all 115,617 common units to its sole member, SP Capital Holdings, LLC ("SP Capital"), for no consideration, and an anticipated concurrent distribution by SP Capital of (i) 106,946 common units to its members on a pro rata basis and for no consideration (including the 27,806 common units to be distributed to Patricio Sanchez), resulting in exempt distributions under Rule 16a-9 and/or Rule 16a-13 of 115,617 common units to SP Capital and 106,946 common units from SP Capital to the members of SP Capital, including Patricio Sanchez, and (ii) the remaining 8,671 units to one individual.
- F2These common units will be owned directly by SP Holdings. SP Holdings is owned and controlled by its sole member, SP Capital. SP Capital is managed by Patricio Sanchez and other members of the Sanchez family. Patricio Sanchez may be deemed to share voting and dispositive power over the securities controlled by SP Capital. 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.
- F3These common units are owned directly by 1998 Trust #14 ("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 common 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.