SEC Form 4 · accession 0001140361-15-031773
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
Aug 13, 2015
Accepted (ET)
Aug 13, 2015 · 6:41 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001523404
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| COMMON UNITS (LIMITED PARTNER INTERESTS)F1 | Aug 13, 2015 | P | 5,000 | $8.83 | A | 11,772 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SUBORDINATED UNITS (LIMITED PARTNER INTERESTS)F2 | — | holding | — | — | — | — | — | COMMON UNITS | 13,354 | 13,354 | D |
| PHANTOM UNITS (with DERs)F3,F4,F5 | — | holding | — | — | — | — | — | COMMON UNITS | 20,000 | 20,000 | D |
Explanation of responses
- F1The price reported in Column 4 is a weighted average price. These units were purchased in multiple transactions at prices ranging from $8.74 to $8.90, inclusive. The reporting person undertakes to provide to JP Energy Partners LP, any security holder of JP Energy Partners LP, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of units purchased at each separate price within the ranges set forth in footnote (1) to this Form 4.
- F2Each subordinated unit will convert into one common unit at the end of the subordination period, as described in Registration Statement.
- F3Each 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 distribution paid on each of the Partnership's common units.
- F4The phantom units vest in three equal annual installments commencing on each of the first, second and third anniversaries of the grant date.
- F5The 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.
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.