SEC Form 4 · accession 0001179110-17-013051
Southcross Energy Partners, L.P. · SXE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Kelly J Jameson
Officer — See Remarks
Period of report
Oct 1, 2017
Accepted (ET)
Oct 3, 2017 · 7:13 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001547638
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Units (Limited Partnership Interests)F1 | Oct 1, 2017 | M | 10,833 | — | A | 18,703 | D | |
| Common Units (Limited Partnership Interests) | Oct 1, 2017 | F | 2,963 | $2.35 | D | 15,740 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom UnitsF1,F2,F3 | — | Oct 1, 2017 | M | 10,833 | D | Oct 1, 2017 | Oct 1, 2017 | Common Units | 10,833 | 10,834 | D |
Explanation of responses
- F1On October 1, 2017, one-third of the 32,500 phantom units awarded to the Reporting Person on October 1, 2015 vested. All of such vested phantom units were settled in common units (on a one-for-one basis) that were issued to the Reporting Person on such date.
- F2One-third of the 32,500 phantom units vest on each of the first, second, and third anniversaries of the grant date (October 1, 2015), subject to his continued service as provided in the underlying award agreement. The Reporting Person received distribution equivalent rights for each phantom unit, providing for payment on the vesting date of a lump sum of cash equal to the accrued distributions from and after the grant date of the reported phantom units.
- F3Upon vesting, the phantom units are settled in common units (on a one-for-one basis).
Remarks
The Reporting Person is the Senior Vice President, General Counsel and Secretary 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.