SEC Form 4 · accession 0001140361-16-065755
JP Energy Partners LP · JPEP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Josh Sherman
Director · Other
Period of report
May 12, 2016
Accepted (ET)
May 16, 2016 · 4:39 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) | holding | — | — | — | 5,666 | 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)F1,F2,F3 | — | May 12, 2016 | A | 9,592 | A | — | — | COMMON UNITS | 9,592 | 10,926 | 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. Of the phantom units granted on February 5, 2015, 2 installments totaling 1,334 units vest equally on February 5, 2017 and February 5, 2018, respectively. All remaining phantom units vest commencing on April 1, 2017, 2018 and 2019, respectively.
- 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.
Remarks
The Reporting Person is 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.