SEC Form 4 · accession 0001104659-16-139165
Sanchez Midstream Partners LP · SNMP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Antonio R Sanchez III
Director
Period of report
Aug 10, 2016
Accepted (ET)
Aug 12, 2016 · 8:59 am 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 | Aug 10, 2016 | A | 150,398 | $10.82 | A | 150,398 | I | By SP Holdings, LLC |
| Common UnitsF2 | Aug 10, 2016 | J | 150,398 | $0.00 | D | 0 | I | By SP Holdings, LLC |
| Common UnitsF1 | holding | — | — | — | 148,044 | D | ||
| Common UnitsF3 | holding | — | — | — | 35,320 | I | By Sanchez Oil & Gas Corporation |
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 150,398 Issuer common units on or before September 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 150,398 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) 139,118 common units to its members on a pro rata basis and for no consideration (including the 36,171 common units to be distributed to Antonio R. Sanchez, III), resulting in exempt distributions under Rule 16a-9 and/or Rule 16a-13 of 150,398 common units to SP Capital and 139,118 common units from SP Capital to the members of SP Capital, including Antonio R. Sanchez, III, and (ii) the remaining 11,280 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 Antonio R. Sanchez, III and other members of the Sanchez family. Antonio R. Sanchez, III may be deemed to share voting and dispositive power over the securities controlled by SP Capital. Antonio R. Sanchez, III 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 Antonio R. Sanchez, III of the reported securities for purposes of Section 16 or any other purpose.
- F3These securities are owned directly by Sanchez Oil & Gas Corporation ("SOG"). SOG is managed by Antonio R. Sanchez, III and other members of the Sanchez family. Antonio R. Sanchez, III shares voting and dispositive power over the securities controlled by SOG. Antonio R. Sanchez, III 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 of all of the reported securities for purposes of Section 16 or any other purpose.