SEC Form 4 · accession 0001140361-17-004680
JP Energy Partners LP · JPEP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Norman J Szydlowski
Director · Other
Period of report
Feb 5, 2017
Accepted (ET)
Feb 7, 2017 · 8:16 am 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) | Feb 5, 2017 | M | 667 | $10.00 | A | 2,833 | 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 | — | Feb 5, 2017 | M | 667 | D | — | — | COMMON UNITS | 667 | 10,259 | 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, 667 units vest on February 5, 2018. 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.