SEC Form 5 · accession 0001179110-16-019142
Southcross Energy Partners, L.P. · SXE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Bruce A Williamson
Director
Period of report
Dec 31, 2015
Accepted (ET)
Feb 12, 2016 · 6:22 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001547638
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 UnitsF2,F4,F1 | — | Jan 22, 2015 | A | 1,803 | A | — | — | Common Units | 1,803 | 16,860 | D |
| Phantom UnitsF3,F1 | — | Feb 13, 2015 | A | 533 | A | — | — | Common Units | 533 | 17,393 | D |
| Phantom UnitsF5,F1 | — | Apr 1, 2015 | A | 5,365 | A | — | — | Common Units | 5,365 | 22,758 | D |
| Phantom UnitsF2,F1 | — | Apr 24, 2015 | A | 1,226 | A | — | — | Common Units | 1,226 | 23,984 | D |
| Phantom UnitsF3,F1 | — | May 14, 2015 | A | 663 | A | — | — | Common Units | 663 | 24,647 | D |
| Phantom UnitsF3,F1 | — | Aug 14, 2015 | A | 1,363 | A | — | — | Common Units | 1,363 | 26,010 | D |
| Phantom UnitsF2,F1 | — | Oct 28, 2015 | A | 3,534 | A | — | — | Common Units | 3,534 | 29,544 | D |
| Phantom UnitsF3,F1 | — | Nov 13, 2015 | A | 2,452 | A | — | — | Common Units | 2,452 | 31,994 | D |
Explanation of responses
- F1The phantom units were issued to the Reporting Person pursuant to the Issuer's Non-Employee Director Compensation Arrangement and Non-Employee Director Deferred Compensation Plan. Under such arrangement, the Reporting Person was eligible to receive cash compensation, equity compensation, and distribution equivalent rights that the Reporting Person deferred. Each phantom unit is the economic equivalent of one common unit. For phantom units credited to the Reporting Person for cash compensation and distribution equivalent rights, the phantom units become payable in cash equal to the fair market value of the phantom units on the Reporting Person's date of termination of service. For phantom units credited to the Reporting Person for equity compensation, the phantom units become payable in common units equal to the number of phantom units. The cash and common units shall be paid to the Reporting Person within 30 days following his termination of service.
- F2The number of phantom units credited to the Reporting Person for cash compensation equals the amount of cash compensation deferred divided by the fair market value of a common unit on the date immediately prior to payment of the cash compensation. The reported phantom units are reported to the nearest whole number for fractional units distributed.
- F3The number of phantom units credited to the Reporting Person for distribution equivalent rights equals the number of whole and fractional common units that could have been purchased with such award at fair market value on the date of distribution. The reported phantom units are reported to the nearest whole number for fractional units distributed.
- F4The total number of phantom units includes the 15,057 phantom units as reported on a Form 5 filed by the Reporting Person on March 6, 2015.
- F5The number of phantom units credited to the Reporting Person for equity compensation equals $75,000 divided by the average of the closing daily sales price of the Issuer's common units for the ten trading days immediately prior to the grant. The reported phantom units are reported to the nearest whole number for fractional units distributed.
Remarks
The Reporting Person is a director of Southcross Energy Partners GP, LLC, the general partner of the Issuer (the "General Partner"). The Issuer is managed by the directors and executive officers of the General Partner.