SEC Form 4 · accession 0001209191-15-009527
Northern Tier Energy LP · NTI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Karen Berriman Davis
Officer — Executive Vice President
Period of report
Feb 2, 2015
Accepted (ET)
Feb 4, 2015 · 5:43 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001533454
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom UnitF1,F2 | — | Feb 2, 2015 | A | 15,476 | A | — | — | Common Units | 15,476 | 15,476 | D |
Explanation of responses
- F1Each phantom unit represents a contingent right to receive one common unit representing a limited partner interest in NTI or, at the election of the Board of Directors (the "Board") of Northern Tier Energy GP LLC, the general partner of NTI, or such committee as may be appointed by the Board, the cash value thereof. The phantom units were awarded as compensation for service as an officer.
- F2These phantom units vest ratably on the third Wednesday in January of each of the three years following the date of grant. The vested common units underlying the phantom units, or the cash value thereof, will be delivered to the reporting person on or promptly following the vesting date applicable thereto, but not later than the 70th calendar day following the vesting of the phantom units.