SEC Form 4 · accession 0001209191-16-093171
Northern Tier Energy LP · NTI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Paul L Foster
Director
Period of report
Jan 20, 2016
Accepted (ET)
Jan 22, 2016 · 5:08 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001533454
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common UnitF1 | Jan 20, 2016 | M | 4,846 | $0.00 | A | 8,975 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom UnitF2,F3 | — | Jan 20, 2016 | M | 4,846 | D | — | — | Common Units | 4,846 | 0 | D |
| Phantom UnitF2,F4 | — | Jan 20, 2016 | A | 4,202 | A | — | — | Common Units | 4,202 | 4,202 | D |
Explanation of responses
- F1These common units were issued pursuant to a phantom unit award granted to the reporting person on January 21, 2015 (the "2015 Phantom Unit Award"), settled at the election of the Compensation Committee of the Board of Directors (the "Board") of Northern Tier Energy GP LLC ("NTI GP"), the general partner of NTI, in NTI common units.
- F2Each 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, or such Committee as may be appointed by the Board, the cash value thereof. The phantom units were awarded as compensation for services as a director of NTI GP.
- F3The 2015 Phantom Unit Award vested on January 20, 2016, and, at the election of the Compensation Committee of the Board, was settled in NTI common units.
- F4The phantom units are scheduled to vest on January 18, 2017. 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 no later than the 70th calendar day following the vesting of the phantom units.