SEC Form 5 · accession 0001209191-15-023771
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, 2014
Accepted (ET)
Mar 6, 2015 · 7:30 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 | — | May 15, 2013 | A | 56 | A | — | — | Common Units | 56 | 7,430 | D |
| Phantom UnitsF3,F1 | — | Jul 1, 2013 | A | 1,053 | A | — | — | Common Units | 1,053 | 8,483 | D |
| Phantom UnitsF2,F1 | — | Aug 14, 2013 | A | 80 | A | — | — | Common Units | 80 | 8,563 | D |
| Phantom UnitsF3,F1 | — | Oct 1, 2013 | A | 994 | A | — | — | Common Units | 994 | 9,557 | D |
| Phantom UnitsF2,F1 | — | Nov 14, 2013 | A | 105 | A | — | — | Common Units | 105 | 9,662 | D |
| Phantom UnitsF3,F1 | — | Jan 8, 2014 | A | 982 | A | — | — | Common Units | 982 | 10,644 | D |
| Phantom UnitsF2,F1 | — | Feb 14, 2014 | A | 141 | A | — | — | Common Units | 141 | 10,785 | D |
| Phantom UnitsF3,F1 | — | Apr 1, 2014 | A | 1,056 | A | — | — | Common Units | 1,056 | 11,841 | D |
| Phantom UnitsF2,F1 | — | May 15, 2014 | A | 275 | A | — | — | Common Units | 275 | 12,116 | D |
| Phantom UnitsF3,F1 | — | Jul 1, 2014 | A | 1,273 | A | — | — | Common Units | 1,273 | 13,389 | D |
| Phantom UnitsF2,F1 | — | Aug 14, 2014 | A | 232 | A | — | — | Common Units | 232 | 13,621 | D |
| Phantom UnitsF3,F1 | — | Oct 14, 2014 | A | 1,107 | A | — | — | Common Units | 1,107 | 14,728 | D |
| Phantom UnitsF2,F1 | — | Nov 14, 2014 | A | 329 | A | — | — | Common Units | 329 | 15,057 | 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. These 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 within 30 days of such termination of service in accordance with the Issuer's Non-Employee Director Deferred Compensation Plan.
- F2The 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.
- F3The 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.
- F4The total number of phantom units includes 2,993 phantom units awarded to the Reporting Person as equity compensation that the Reporting Person deferred as previously reported on a Form 4 filed on April 3, 2013 and 4,381 phantom units awarded to the Reporting Person as equity compensation that the Reporting Person deferred as previously reported on a Form 4 filed on April 4, 2014.
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.