SEC Form 4 · accession 0001140361-16-060264
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, 2016
Accepted (ET)
Apr 5, 2016 · 4:38 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) | Apr 1, 2016 | M | 6,667 | $5.33 | A | 18,439 | D | |
| COMMON UNITS (LIMITED PARTNER INTERESTS) | Apr 1, 2016 | F | 1,824 | $5.33 | D | 16,615 | D |
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)F3,F4,F5 | — | Apr 1, 2016 | M | 6,667 | D | — | — | COMMON UNITS | 6,667 | 13,333 | D |
| PHANTOM UNITS (WITH DERs)F3,F4,F5 | — | Apr 1, 2016 | A | 47,000 | A | — | — | COMMON UNITS | 47,000 | 60,333 | D |
| SUBORDINATED UNITS (LIMITED PARTNER INTERESTS)F2 | — | holding | — | — | — | — | — | COMMON UNITS | 13,354 | 13,354 | D |
Explanation of responses
- F1The Reporting Person's disposal of the securities represents units withheld for satisfaction of a tax withholding obligation arising as a result of the partial vesting of phantom units granted previously.
- 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.