SEC Form 4 · accession 0001104659-17-032400
Sanchez Midstream Partners LP · SNMP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Patricio D. Sanchez
Officer — President & COO · Director
Period of report
May 10, 2017
Accepted (ET)
May 12, 2017 · 9:34 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 UnitsF3 | May 10, 2017 | A | 139,110 | $14.59 | A | 139,110 | I | By SP Holdings, LLC |
| Common UnitsF3 | May 10, 2017 | J | 139,110 | $0.00 | D | 0 | I | By SP Holdings, LLC |
| Common UnitsF1,F2 | holding | — | — | — | 304,530 | D |
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 139,110 Issuer common units pursuant to the Amended and Restated Shared Services Agreement, by and between Issuer and SP Holdings, dated March 6, 2015 (the "Shared Services Agreement"), and an anticipated concurrent distribution by SP Holdings of all 139,110 common units to its sole member, SP Capital Holdings, LLC ("SP Capital"), for no consideration.
- F2Concurrently with such aforementioned distributions, SP Capital will distribute (i) 128,677 common units to its members on a pro rata basis and for no consideration (including the 33,456 common units distributed to Patricio Sanchez) and (ii) the remaining 10,433 common units to one individual, cumulatively resulting in exempt distributions under Rule 16a-9 and/or Rule 16a-13 of 139,110 Issuer common units to SP Capital, 128,677 common units to the members of SP Capital (including Patricio Sanchez) and 10,433 common units to one individual.
- F3These 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.