SEC Form 4 · accession 0001140361-15-014329
JP Energy Partners LP · JPEP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Patrick Joseph Welch
Officer — SEE REMARKS · Director
Period of report
Apr 1, 2015
Accepted (ET)
Apr 3, 2015 · 2:59 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001523404
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PHANTOM UNITS (WITH DERs)F1,F2,F3 | — | Apr 1, 2015 | A | 20,000 | A | — | — | COMMON UNITS | 20,000 | 20,000 | D |
| SUBORDINATED UNITS (LIMITED PARTNER INTERESTS)F4 | — | holding | — | — | — | — | — | COMMON UNITS | 14,300 | 14,300 | D |
Explanation of responses
- F1Each phantom unit is the economic equivalent of one common unit and is accompanied by a distribution equivalent right, entitling the holder to an amount equal to any cash distributions paid on each of the Partnership's common units.
- F2The phantom units vest in three equal annual installments commencing on each of the first, second and third anniversaries of the grant date.
- F3The phantom units do not expire. The phantom units are settled upon vesting in common units (on a one-for-one basis) or in cash, at the discretion of the Issuer.
- F4Each subordinated unit will convert into one common unit at the end of the subordination period, as described in Registration Statement.
Remarks
The Reporting Person is the Executive Vice President, Chief Financial Officer and a director of JP Energy GP II LLC, the general partner of the Issuer (the "General Partner"). The Issuer is managed by the directors and executive officers of the General Partner.