SEC Form 4 · accession 0001140361-15-043920
JP Energy Partners LP · JPEP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Shiming Chen
Officer — SEE REMARKS
Period of report
Dec 5, 2015
Accepted (ET)
Dec 8, 2015 · 4:13 pm EST
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) | Dec 5, 2015 | F | 120 | $6.50 | D | 1,529 | 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,F1 | — | Dec 5, 2015 | F | 489 | D | — | — | COMMON UNITS | 489 | 6,240 | D |
| PHANTOM UNITS (with DERs)F3,F4,F5 | — | holding | — | — | — | — | — | COMMON UNITS | 34,636 | 34,636 | D |
Explanation of responses
- F1Each subordinated unit will convert into one common unit at the end of the subordination period, as described in Registration Statement.
- F2Each subordinated unit is the economic equivalent of one common unit.
- 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 distributions paid on each of the Partnership's common units.
- F4The phantom units vest in three equal annual installments on April 1, 2016, April 1, 2017 and April 1, 2018, respectively.
- 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 Senior Vice President and Chief Accounting Officer 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.