SEC Form 4 · accession 0001638306-18-000003
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
Nov 30, 2018
Accepted (ET)
Dec 4, 2018 · 5:16 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 UnitsF3 | Nov 30, 2018 | A | 334,010 | $7.26 | A | 334,010 | I | By SP Holdings, LLC |
| Common UnitsF3 | Nov 30, 2018 | J | 334,010 | $0.00 | D | 0 | I | By SP Holdings, LLC |
| Common Units | Dec 3, 2018 | F | 4,421 | $2.97 | D | 711,050 | D | |
| Common UnitsF1,F2 | holding | — | — | — | 715,471 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Represents a distribution to SP Holdings, LLC ("SP Holdings") of 334,010 Issuer common units pursuant to the Amended and Restated Shared Services Agreement, dated March 6, 2015, by and between Issuer and SP Holdings (the "Shared Services Agreement"), and a concurrent distribution by SP Holdings of all 334,010 Issuer common units to its sole member, SP Capital Holdings, LLC ("SP Capital"), for no consideration.
- F2Concurrently with such aforementioned distributions, SP Capital distributed (i) 308,960 common units to its members on a pro rata basis and for no consideration (including the 80,330 common units distributed to Reporting Person) and (ii) the remaining 25,050 common units to one individual, cumulatively resulting in exempt distributions under Rule 16a-9 and/or Rule 16a-13 of 334,010 Issuer common units to SP Capital, 308,960 common units to the members of SP Capital (including Reporting Person) and 25,050 common units to one individual.
- F3These Issuer common units were owned directly by SP Holdings. SP Holdings is owned and controlled by its sole member, SP Capital. SP Capital is managed by Reporting Person and other members of the Sanchez family. Reporting Person may be deemed to share voting and dispositive power over the securities controlled by SP Capital. 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.