SEC Form 4 · accession 0001231922-18-000003
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
Nov 12, 2018
Accepted (ET)
Nov 13, 2018 · 4:55 pm EST
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 | Nov 12, 2018 | S | 15,000 | $4.7391 | D | 447,696 | 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
- F1This sale of common units directly owned by Reporting Person reported on this Form 4 was effected pursuant to a Rule 10b5-1 trading plan established by Reporting Person and was used to satisfy Reporting Person's federal income tax obligations with respect to various distributions of common units pursuant to the Amended and Restated Shared Services Agreement, dated March 6, 2015, by and between Issuer and SP Holdings, LLC.
- F2This transaction was executed in multiple trades at prices ranging from $4.33 to $4.96. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the Securities and Exchange Commission staff, the issuer or a security holder of the issuer full information regarding the number of common units and prices at which the transaction was effected.
- F3These securities are owned directly by Sanchez Oil Gas Corporation ("SOG"). SOG is managed by Reporting Person and other members of the Sanchez family. Reporting Person shares voting and dispositive power over the securities controlled by SOG. Reporting Person 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 Reporting Person of the reported securities for purposes of Section 16 or any other purpose.